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04
March 2009
Station
Casinos Announce Signing Of
Forbearance
Agreements
Station
Casinos
have announced that it has
entered into forbearance
agreements with the holders of a
majority in principal amount of
its senior and senior
subordinated notes and the
lenders holding a majority of the
commitments under its Credit
Agreement.
The
Company said that these
forbearance agreements will
provide the Company with
additional time to continue
discussions regarding the terms
of its plan of reorganization
with its lenders and the holders
of its senior and senior
subordinated notes.
The
forbearance covers the Company's
6% Senior Notes due 2012 (the
"Old 2012 Senior Notes"), 7 3/4%
Senior Notes due 2016 (the "Old
2016 Senior Notes" and together
with the Old 2012 Senior Notes,
the "Old Senior Notes"), 6 1/2%
Senior Subordinated Notes due
2014 (the "Old 2014 Subordinated
Notes"), 6 7/8% Senior
Subordinated Notes due 2016 (the
"Old 2016 Subordinated Notes")
and 6 5/8% Senior Subordinated
Notes due 2018 (the "Old 2018
Subordinated Notes" together with
the Old 2014 Subordinated Notes
and the Old 2016 Subordinated
Notes, the "Old Subordinated
Notes" and collectively with the
Old Senior Notes, the "Old
Notes"). The forbearance
agreements with the holders of
the Old Notes and the lenders
under the Credit Agreement will
expire April 15, 2009, unless
earlier terminated pursuant to
the terms thereof.
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