NPC International Inc., a Pizza Hut franchisee, set the interest rate it will pay on a $375 million term loan the company is seeking to refinance debt, according to a person with knowledge of the transaction.
Blackstone Group LP is offering the highest interest seen on a loan this year if lenders agree to swap debt in Travelport Ltd. for longer-dated obligations, or else it may put the parent of the second-largest travel- reservation system provider into bankruptcy.
A 10-cent plunge in a portion of Caesars Entertainment Corp.’s secured bonds is “overdone” and buyers have a good chance of reaping gains with the casino operator likely to restructure its debt within two years, according to KDP Investment Advisors Inc.
Junk-rated Las Vegas Sands Corp., the casino operator controlled by billionaire Sheldon Adelson, is getting investment-grade treatment from banks as cash flow from its properties in Asia outpaces those in the U.S.
Mohegan Tribal Gaming Authority, the operator of Mohegan Sun casinos in Connecticut and Pennsylvania, is asking bondholders to refinance as much as $1.1 billion of bonds in an exchange offer as part of a deal to restructure a bank credit line maturing in March.
Icahn Enterprises LP , the holding company for financier Carl Icahn , plans to sell $500 million of bonds due in 2016 and 2018 in a reopening, as the company takes advantage of record-low borrowing costs.