Western Alliance Bancorporation: Gaming and Circa Hospitality Group Announce Successful Refinancing of Circa Hospitality Group $ 420 Million Senior Secured Debt

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Western Alliance Gaming and Circa Hospitality Group, operators of major downtown Las Vegas gaming properties, announced the successful refinancing of Circa Hospitality Group’s existing senior secured debt.

Circa Hospitality Group has engaged Western Alliance Gaming, a national banking group within Western Alliance Bank, a member of the FDIC, to serve as joint principal arranger, bookkeeper and administrative agent for its senior secured credit facilities of $ 420 million. The senior credit facilities will provide Circa Hospitality Group with financial flexibility and significant cost savings.

The successful syndication completed in October 2021 highlights Western Alliance Bank’s capabilities in the capital markets.

“Our goal is to provide gaming clients like the Circa Hospitality Group with the experience, industry knowledge and capital market capabilities that help them leverage their success,” said Ashan Perera, Managing Director of Western Alliance Gaming. “We have a solid track record in setting up lending and cash management strategies to support our clients using innovative and flexible capital structures. “

“Western Alliance Bank has been a great partner to my businesses for many years through our banking relationship,” said Derek Stevens, CEO of Circa Hospitality Group. “When the time came to refinance, Western Alliance Gaming worked with our team to reach a deal quickly, with Comerica and Wells Fargo, allowing us to capitalize on historically low interest rates. I am very excited about this transaction and I look forward to working with Western Alliance as we continue to grow our business. ”

Western Alliance Gaming is led by gaming industry banking experts Philip Potamitis, Ashan Perera and Laura Linton.

Disclaimer

Western Alliance Bancorporation published this content on 22 November 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 22, 2021 03:44:02 PM UTC.


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