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twitterAztar refinancing debt
Tuesday, April 27, 1999 | 10:38 a.m.
The company said net proceeds from the planned sale would be used to redeem the remaining $125 million of its 11 percent senior subordinated notes due 2002 and to repay outstanding revolving bank loans.
If the sale proceeds, Aztar will join a host of gaming companies that have cut interest expenses by refinancing debt issued during periods of higher interest rates.
The notes to be offered will not be registered under the Securities Act of 1933 and may not be sold without registration or exemption from the act's registration requirements.
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