Station Casinos Confirms Notes Sold
18 Mar 2004
LOS ANGELES – As reported by Reuters: "Station Casinos Inc.(NYSE:STN) confirmed on Wednesday that it had sold $450 million of senior notes due 2012 and will use most of the proceeds to pay off other debt due 2008 and paying a higher interest rate.
Las Vegas-based Station, which previously had announced the planned sale, said it would buy $383.1 million of $400 million in aggregate principal of the 2008 notes, which carry an 8-3/8 percent interest rate, compared with the 6 percent rate of the new debt.