Isle offers shares for Rainbow purchase

ST. LOUIS, Mo. — Isle of Capri Casinos Inc. has commenced an offering of nine million shares of its common stock in an underwritten public offering.

The company intends to grant the underwriters of the offering an option for 30 days to purchase up to 1.35 million additional shares of common stock to cover over-allotments, if any.

Isle of Capri intends to use a portion of the net proceeds from the offering to temporarily repay borrowings outstanding under the revolving line of credit, of which $80 million was incurred to fund the purchase of the Rainbow Casino in Vicksburg, and to use the remaining proceeds for general corporate purposes.

Deutsche Bank Securities and Credit Suisse are acting as the joint book-running managers and Wells Fargo Securities is acting as a joint lead manager. Deutsche Bank Securities and Credit Suisse are acting as the representatives of the underwriters.

2 Responses to “Isle offers shares for Rainbow purchase”

1. Isle offers shares for Rainbow purchase | The St. Louis 10 - Top Ten Lists of the Best Restaurants, Businesses, Services, and Everything Else You Can Imagine in St. Louis, MO Says:
   June 28th, 2010 at 10:52 am

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2. Isle offers shares for Rainbow purchase | The St. Louis 10 - Top Ten Lists of the Best Restaurants, Businesses, Services, and Everything Else You Can Imagine in St. Louis, MO Says:
   June 28th, 2010 at 10:53 am

   [...] Original post: Isle offers shares for Rainbow purchase [...]