PROVIDENCE, R.I., Oct. 6, 2020 /PRNewswire/ -- Twin River
Worldwide Holdings, Inc. (NYSE: TRWH) ("Twin River" or the
"Company") announced today that it has priced $125 million in aggregate principal amount of
6.750% senior unsecured notes due 2027 (the "New Notes"). The New
Notes constitute an additional issuance of Twin River's existing
6.750% senior notes due 2027 and will be issued under the indenture
dated as of May 10, 2019, as amended
and supplemented, pursuant to which Twin River previously issued
$400 million in aggregate principal
amount of notes due 2027. Immediately after giving effect to the
issuance and sale of the New Notes, the Company will have
$525 million in aggregate principal
amount of 6.750% senior unsecured notes due 2027 outstanding. The
New Notes are being offered (the "Offering") and sold only to
persons reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act"), and to certain non–U.S. persons in
transactions outside the United
States in reliance on Regulation S under the Securities Act.
The Offering is expected to close on October
9, 2020, subject to customary closing conditions.
Twin River intends to use the net proceeds of this Offering for
general corporate purposes, which could include, in addition to
funding operations, acquisitions and other transactions.
The offer and sale of the New Notes have not been registered
under the Securities Act or any other applicable securities
laws and the New Notes may not be offered, sold, pledged or
otherwise transferred within the United States or to or for the account of any
U.S. person, except pursuant to an exemption from, or in
a transaction not subject to, the registration requirements of
the Securities Act or any other applicable securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the New Notes, nor shall there be
any sale of the New Notes in any jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
About Twin River
Twin River owns and manages nine casinos, two in Rhode Island, two in Mississippi, one in Delaware, one in Missouri and three casinos as well as a horse
racetrack that has 13 authorized OTB licenses in Colorado. Twin River's properties include Twin
River Casino Hotel (Lincoln, RI),
Tiverton Casino Hotel (Tiverton,
RI), Hard Rock Hotel & Casino (Biloxi, MS), Casino Vicksburg (formerly Lady
Luck Casino Vicksburg in Vicksburg,
MS), Dover Downs Hotel & Casino (Dover, DE), Casino KC (formerly Isle of Capri
Casino in Kansas City, MO),
Golden Gates Casino (Black Hawk, CO), Golden Gulch Casino
(Black Hawk, CO), Mardi Gras Casino (Black Hawk, CO), and Arapahoe Park racetrack
(Aurora, CO). Twin River's casinos
range in size from 603 slots and 8 electronic table games to
properties with over 4,100 slots, approximately 111 table games,
and 36 stadium gaming positions, along with hotel and resort
amenities.
Forward Looking Statements
The statements in this press release that are not historical
facts are forward-looking statements. Forward-looking statements
involve risks and uncertainties that could cause the stated or
expected results to be materially different from those anticipated.
These risk and uncertainties include, among others, Twin River's
ability to close the Offering and uncertainty surrounding the
ongoing COVID-19 pandemic, including uncertainty regarding its
extent, duration and impact, on Twin River's business. For
further discussion of factors that could materially affect the
outcome of forward-looking statements and other risks and
uncertainties, see "Risk Factors" in Twin River's Annual Report on
Form 10–K for the fiscal year ended December
31, 2019 as filed with the Securities and Exchange
Commission on March 13, 2020 and the
Company's Quarterly Reports on Form 10-Q for the fiscal quarters
ended March 31, 2020 and June 30, 2020, as filed with the Securities and
Exchange Commission on May 14, 2020
and August 13, 2020,
respectively. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated
or anticipated by such forward-looking statements. Unless required
by law, Twin River expressly disclaims any obligation to update or
revise any of these forward-looking statements, whether because of
future events, new information, a change in its views or
expectations, to conform them to actual results or otherwise. You
are cautioned not to place undue reliance on these forward-looking
statements.
Investor Contact
Steve Capp
Executive Vice President and Chief Financial Officer
(401) 475-8564
InvestorRelations@twinriver.com
Media Contact
Liz
Cohen
(212) 521-4845
Liz.Cohen@kekstcnc.com
View original
content:http://www.prnewswire.com/news-releases/twin-river-prices-senior-notes-offering-301147055.html
SOURCE Twin River Worldwide Holdings, Inc.
