November 18, 2009 (FinancialWire) — Landry’s Restaurants, Inc. (NYSE: LNY) has priced an offering of $406.5 million in aggregate principal amount of 11.625% senior secured notes due 2015. The company will receive gross proceeds of $400.1 million.

The notes will be secured and guaranteed by certain of Landry’s subsidiaries. They are being offered only to qualified institutional buyers. The company said it is also expecting to close a $235.6 million amended and restated credit facility consisting of a $75 million revolving credit facility and a $160.6 million term loan on November 30, 2009, subject to customary conditions.

Landry’s said the refinancings do not affect the outstanding debt on the Golden Nugget Hotel and Casino of approximately $498.1 million.

Houston-based Landry’s is a national, diversified restaurant, hospitality and entertainment company principally engaged in the ownership and operation of full-service, casual dining restaurants, primarily under the names of Rainforest Cafe, Saltgrass Steak House, Landry’s Seafood House, Charley’s Crab, The Chart House, and the Signature Group of restaurants. The company is also engaged in the ownership and operation of select hospitality businesses, including the Golden Nugget Hotel & Casino in Las Vegas and Laughlin, Nevada.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports, filings and conference call webcasts for companies mentioned in the news are available via Investrend Syndications (http://investrend.ar.wilink.com/?level=279). Tuesday’s issued reports and/or recorded webcasts include Cavico Corp. (OTCBB: CVIC), Thornburg Ltd. Term Income Fund (NASDAQ: THIFX), Apache Corp. (NYSE: APA), Baytex Energy Trust (NYSE: BTE), Citizens, Inc. (NYSE: CIA), Scottish Oriental Smaller Companies Trust PLC (OTC: SCSHF) (London Stock Exchange: SOST), JPMorgan Elect Plc (London Stock Exchange: JPE) and Solitario Exploration & Royalty Corp. (AMEX: XPL).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.