July 30, 2014
LAS VEGAS (AP) - Station Casinos Inc. says that most of its
lenders and senior notes holders have signed forbearance agreements
giving the regional casino operator more time to win approval for
its debt restructuring plan.
The casino operator announced earlier this month that it plans
to swap high-cost debt for low-cost debt and a $244 million capital
infusion through a prepackaged bankruptcy filing.
The company also extended the deadline for noteholders to vote
on the plan until April 10. The forbearance agreements expire April
The restructuring plan was complicated last week when Boyd
Gaming Corp. said it is interested in acquiring Station Casinos'
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.