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Hotel Industry News |
Sunday September 7th, 2008 |
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Riviera Announces Refinancing |
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LAS VEGAS, June 6 /PRNewswire-FirstCall/ -- Riviera Holdings Corporation (AMEX:RIV) today announced plans to offer approximately $210 million in aggregate principal amount of Senior Secured Notes in a Rule 144A offering. Riviera intends to use the proceeds from the proposed offering to repay, redeem or repurchase certain outstanding indebtedness consisting of Riviera Holdings Corporation 10% first mortgage notes due 2004 and Riviera Black Hawk, Inc. 13% first mortgage notes due 2005. The proposed offering is expected to close during the second quarter of 2002. The securities to be offered will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933.
Safe Harbor Statement:
The forward-looking statements included in this news release, which reflect management's best judgment based on factors currently known, involve risks and uncertainties including expansion timetables, hotel and casino market conditions, financing requirements and other risks detailed from time to time in the Company's SEC reports, including the Report on Form 10-K for December 31, 2001. Actual results may differ.
About Riviera Holdings:
Riviera Holdings Corporation owns and operates the Riviera Hotel and Casino on the Las Vegas Strip and the Riviera Black Hawk Casino in Black Hawk, Colorado. Riviera is traded on the American Stock Exchange under the symbol RIV.
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