CIBC World Markets is prepping a $650 million refinancing for Isle of Capri Casinos. The credit comprises a $400 million revolver and a $250 million "B" loan. The deal is being done "so that we can move forward with developments in Iowa, Florida and at our existing properties," explained Rex Yeisley, cfo. He declined to comment on price talk. A bank meeting is being held Jan. 5 at Pompano Park racetrack in Pompano Beach, Fla. The new credit refinances a $500 million CIBC-led facility that comprises a $250 million revolver and a $250 million "B" loan. A CIBC spokeswoman did not return calls.
Casino Refi Rolls Into Market