Boyd refinances debt

Friday, July 5, 2002 | 11:11 a.m.

Boyd Gaming Corp. last week completed and funded its new $500 million credit facility with banks and institutional investors.

The facility consists of $400 million five-year revolving credit facility and a $100 million, six-year term facility that replaces a 1999 credit facility maturing next June.

CIBC World Markets was the lead agent in the transaction, followed by Bank of America, Credit Lyonnais, Deutsche Bank and Wells Fargo.

Las Vegas-based Boyd is developing a $1 billion hotel-casino and entertainment center in Atlantic City. The Borgata megaresort is a joint venture with MGM MIRAGE.

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