Company to sell bonds to finance Strip attraction

Thursday, Oct. 10, 2002 | 11:19 a.m.

Voyager Entertainment International Inc. intends to issue $100 million in bonds to build a 560-foot "Voyager" observation wheel, similar to a Ferris wheel, on the Las Vegas Strip.

The Las Vegas-based company will use its products or assets as collateral on the bonds, according to a filing Tuesday with the Securities and Exchange Commission.

In September Voyager reached an agreement with Residential Resources Inc. to act as the exclusive agent in the bond sale. Residential will receive 2 percent of the total bonds issued, and was paid a due diligence fee of $30,000. Voyager will pay another $70,000 to Residential Resources upon completion of the deal.

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