Syndication is set to launch tomorrow for a $185 million facility for Yonkers Raceway. The loan is being used to finance the conversion of the race track to incorporate video gaming machines. Merrill Lynch is leading the deal. Price talk is in the low 300s, but the firm is waiting for the final ratings before determining the exact spread. Robert Garry, Yonkers Raceway's corporate controller, confirmed the size of the facility and the launch date, but declined further comment. Merrill bankers declined comment.
Raceway Deal Trots To Market