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Pinnacle Entertainment unit to offer up to $300M senior notes

Pinnacle EntertainmentInc.'s PNK Entertainment Inc. unit is planning a private offering ofup to $300 million aggregate principal amount of its senior unsecured notes.

The subsidiary plans to use the proceeds, along with proceedsfrom expected new senior secured credit facilities, to fund Pinnacle's obligationto facilitate its mergerwith a Gaming and Leisure PropertiesInc. subsidiary, PNK Entertainment's related spinoff to Pinnacle stockholders and transaction closingcosts.

Gaming and Leisure earlier said its operating partnership a $1.375 billion seniornotes offering to help fund its purchase of the bulk of Pinnacle's real estate assets.