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Phone: 212.701.3614
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mmurray@cahill.com

Legal News

Cahill Represents Financing Sources in Acquisition Financing for Gateway Casinos

Date: 02/22/17

Cahill represented Morgan Stanley, SunTrust Robinson Humphrey, BMO Capital Markets, Macquarie Capital, CIBC Capital Markets, and National Bank of Canada Financial Markets as joint book-running managers and ING as co-manager in connection with a Rule 144A offering of $225,000,000 aggregate principal amount of 8.250% Second Priority Senior Secured Notes due 2024 by Gateway Casinos & Entertainment Limited, one of the largest gaming and entertainment operators in Canada. Proceeds from the offering were used to refinance existing indebtedness and to finance the acquisition of certain gaming properties in Ontario from the Ontario Lottery and Gaming Corporation.

Cahill also represented Morgan Stanley Senior Funding as lead arranger, and SunTrust Robinson Humphrey, Bank of Montreal, Macquarie Capital, Canadian Imperial Bank of Commerce, ING Capital LLC and National Bank of Canada Financial as arrangers in a $405,000,000 Term B loan, a CAN$125,000,000 revolving credit facility, and a CAN$80,000,000 Term B loan for Gateway Casinos & Entertainment Limited.  Proceeds were also used in connection with the acquisition, as well as for general corporate purposes and to refinance existing credit.