Pinnacle Entertainment, Inc. 8-K 2005
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 31, 2005
PINNACLE ENTERTAINMENT, INC.
(Exact Name of Registrant as Specified in Its Charter)
Registrants Telephone Number, including area code: (702) 784-7777
(Former name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):
On August 31, 2005, Pinnacle Entertainment, Inc. (the Company) borrowed $100 million under its approximately $130 million delayed draw term loan facility pursuant to its Amended and Restated Credit Agreement (the Credit Agreement), dated as of August 27, 2004, by and among the Company, Lehman Commercial Paper Inc., as Administrative Agent, and the other parties identified therein. Borrowings under the delayed draw term loan facility may be drawn through September 30, 2005 and mature in August 2010. The Company used approximately $69 million of the proceeds to refinance the previous borrowings under the revolving credit facility established pursuant to the terms of the Credit Agreement. The Company used the remaining approximately $31 million, together with approximately $5 million of the Companys cash, to complete its acquisition of the Embassy Suites Hotel (Embassy Suites) in downtown St. Louis, Missouri, for which the Company paid approximately $36 million at closing, which was in addition to the approximately $2 million previously deposited toward the purchase price of the Embassy Suites.
For a summary of the material terms of the Companys Credit Agreement (including payment and acceleration provisions), which are hereby incorporated into this Item 2.03 by reference, see the Companys Current Report on Form 8-K filed on September 2, 2004.
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Pursuant to the requirements of Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.