Company postpones debt offering

Tuesday, Feb. 11, 2003 | 11:19 a.m.

Mandalay Resort Group of Las Vegas postponed a planned $300 million sale of 10-year notes because it wasn't willing to offer the yield demanded by investors, Chief Financial Officer Glenn Schaeffer said.

Mandalay had planned to sell the notes this week, said people familiar with the sale.

Schaeffer said the sale, which "looked tempting" a few weeks ago, became unappealing after investors demanded higher yields. The company may sell bonds again in the future, he said, without elaborating.

"What the market looked like a week or two weeks ago isn't the same today," Schaeffer said.

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