8-K
filed March 14, 2024, 7:59 PM ET
ticker RRR
CIK 0001653653
debt
confidence high
sentiment neutral
materiality 0.55
Red Rock Resorts, Inc. (RRR): debt financing — Station Casinos LLC issues $500M 6.625% senior notes and $1.57B term loan to refinance existing debt
Red Rock Resorts, Inc.
- Station Casinos LLC (Red Rock Resorts subsidiary) issued $500M aggregate principal of 6.625% Senior Notes due 2032.
- Entered $1.57B new Term B loan facility and $1.1B new revolving credit facility under amended credit agreement.
- Proceeds used to refinance all existing loans under 2016 credit agreement and pay fees/costs.
- Notes are senior unsecured, callable from March 2027 at 103.313% declining to par in 2029.
- New revolving facility matures March 2029; term loan matures March 2031; secured net leverage covenant at 5.00x.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.99
Red Rock Resorts, Inc. incurred senior notes of $500 million aggregate principal amount with Deutsche Bank Trust Company Americas at 6.625% maturing March 15, 2032.
- Instrument
- senior notes
- Principal
- $500 million aggregate principal amount
- Counterparty
- Deutsche Bank Trust Company Americas
- Rate
- 6.625%
- Maturity
- March 15, 2032
- Event
- incurrence
Exact text from the filing
On March 14, 2024, Red Rock Resorts, Inc.’s consolidated subsidiary, Station Casinos LLC (the “Company”), issued $500 million aggregate principal amount of 6.625% Senior Notes due 2032 (the “Notes”) pursuant to an indenture, dated as of March 14, 2024 (the “Indenture”), among the Company, the guarantors party thereto (the “Guarantors”) and Deutsche Bank Trust Company Americas, as trustee.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.99
Red Rock Resorts, Inc. incurred term loan of $1,570.0 million aggregate principal amount with Deutsche Bank AG Cayman Islands Branch maturing March 14, 2031.
- Instrument
- term loan
- Principal
- $1,570.0 million aggregate principal amount
- Counterparty
- Deutsche Bank AG Cayman Islands Branch
- Maturity
- March 14, 2031
- Event
- incurrence
Exact text from the filing
On March 14, 2024, the Company, the subsidiary guarantors party thereto, Deutsche Bank AG Cayman Islands Branch, as administrative agent and collateral agent, and the lenders party thereto entered into an Amended and Restated Credit Agreement (the “Credit Agreement”), which amended and restated the Existing Credit Agreement and pursuant to which the Company (a) incurred (i) a new senior secured term “B” loan facility in an aggregate principal amount of $1,570.0 million (the “New Term B Facility” and the term “B” loans funded thereunder, the “New Term B Loan”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Red Rock Resorts, Inc. entered into Indenture with Deutsche Bank Trust Company Americas, as trustee valued at $500 million aggregate principal amount of 6.625% Senior Notes due 2032 (effective 2024-03-14).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Deutsche Bank Trust Company Americas, as trustee
- Value
- $500 million aggregate principal amount of 6.625% Senior Notes due 2032
- Effective
- 2024-03-14
Exact text from the filing
On March 14, 2024, Red Rock Resorts, Inc.’s consolidated subsidiary, Station Casinos LLC (the “Company”), issued $500 million aggregate principal amount of 6.625% Senior Notes due 2032 (the “Notes”) pursuant to an indenture, dated as of March 14, 2024 (the “Indenture”), among the Company, the guarantors party thereto (the “Guarantors”) and Deutsche Bank Trust Company Americas, as trustee.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Red Rock Resorts, Inc. entered into Credit Agreement with Deutsche Bank AG Cayman Islands Branch, as administrative agent and collateral agent, and the lenders party thereto (effective 2024-03-14).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Deutsche Bank AG Cayman Islands Branch, as administrative agent and collateral agent, and the lenders party thereto
- Effective
- 2024-03-14
Exact text from the filing
On March 14, 2024, the Company, the subsidiary guarantors party thereto, Deutsche Bank AG Cayman Islands Branch, as administrative agent and collateral agent, and the lenders party thereto entered into an Amended and Restated Credit Agreement (the “Credit Agreement”), which amended and restated the Existing Credit Agreement and pursuant to which the Company (a) incurred (i) a new senior secured term “B” loan facility in an aggregate principal amount of $1,570.0 million (the “New Term B Facility” and the term “B” loans funded thereunder, the “New Term B Loan”) and (ii) a new senior secured revolving credit facility in an aggregate principal amount of $1,100.0 million (the “New Revolving Credit Facility” and, together with the New Term B Facility, the “New Credit Facilities”)
View on SEC.gov
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