Kerzner Prices $400 Million Senior Subordinated Notes Due 2015
16 September 2005 - 3:27PM
Business Wire
Kerzner International Limited (NYSE:KZL) (the "Company"), a leading
international developer and operator of destination resorts,
casinos and luxury hotels, announced yesterday the terms of an
offering of $400 million in aggregate principal amount of 6 3/4%
senior subordinated notes due 2015. The closing of the offering is
expected to occur on or about September 22, 2005, and is subject to
customary closing conditions. The Company anticipates using the net
proceeds of the offering, together with cash on hand, to finance
its previously announced tender for all $400 million of its
outstanding 8 7/8% senior subordinated notes. The senior
subordinated notes will not be registered under the Securities Act
of 1933, as amended, or under state securities laws and, unless so
registered, may not be offered or sold except pursuant to an
applicable exemption from the registration requirements of the
Securities Act of 1933, as amended, and applicable state securities
laws. This news release shall not constitute an offer to sell or
the solicitation of an offer to buy the senior subordinated notes
in any jurisdiction. This press release contains forward-looking
statements, which are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve risks and uncertainties which
are described in the Company's public filings with the U.S.
Securities and Exchange Commission. Investor inquiries regarding
the Company should be directed to Omar Palacios at +1-242-363-6018.
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