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Red Rock Resorts unit boosts term B loans to $1.62B


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Red Rock Resorts unit boosts term B loans to $1.62B

Red Rock Resorts Inc.'s Station Casinos LLC unit amended an existing credit facility to boost its term B loans by $125.0 million to roughly $1.62 billion.

The applicable margins for LIBOR and alternate base rate loans were also lowered to 2.5% from 3.0% and 1.5% from 2.0%, respectively, among other changes.

Station Casinos will use the proceeds of the incremental term B borrowings to repay the outstanding borrowings under its revolving credit facility and to pay transaction-related fees and expenses.

The changes were stipulated in an amended credit agreement and a joinder agreement entered into Jan. 30 among Red Rock, Station Casinos, Station Holdco LLC, the guarantor subsidiaries of Station, and Deutsche Bank AG Cayman Islands Branch as administrative agent.