Boyd gaming corporation closes offering of 4.750% senior notes due 2027

Boyd gaming corporation (the 'company') announced that it has closed the previously announced offering of $1.0 billion aggregate principal amount of 4.750% senior notes due 2027 (the 'notes'). the notes bear interest at a rate of 4.750% per annum, payable semi-annually on june 1 and december 1 of each year, commencing june 1, 2020. the notes will mature on december 1, 2027 and are fully and unconditionally guaranteed by certain of the company's current and future domestic restricted subsidiaries. as previously announced, the company is using the proceeds from the offering to finance the redemption of all of its outstanding 6.875% senior notes due 2023 and to repay certain amounts outstanding under its revolving credit facility. the company is using borrowings under its revolving credit facility to pay the redemption premium, accrued and unpaid interest, fees, expenses and commissions (including the initial purchasers' discount) related to this offering and the redemption.
BYD Ratings Summary
BYD Quant Ranking