Company refinances debt

Thursday, July 7, 2005 | 11:08 a.m.

Boyd Gaming Corp. has refinanced its debt by retiring $200 million in bonds with a 9.25 percent interest rate; replacing the bonds with lower-interest-rate bank debt.

The change will increase revolving loan commitments to $1.35 billion and reduce certain fees and interest rates.

Boyd Gaming Chief Executive Bill Boyd attributed the arrangements to the company's "excellent financial performance."

"I am pleased that our company is now borrowing under one of the most favorable credit arrangements in the gaming industry today," Boyd said in a statement.

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