Pinnacle Increases Credit Facility to $1 bil
LAS VEGAS, NV, November 20, 2006. Pinnacle Entertainment (NYSE: PNK) today announced it has increased its credit facility to $1 billion from $750 million. The increase consists of $175 million in additional capacity under its revolving credit facility and an additional $75 million of funded term loans, both on virtually identical terms as those of the existing $750 million credit agreement.
"We're very pleased to have expanded and amended our credit facility, which will help support our growth pipeline," said Daniel R. Lee, Pinnacle's Chairman and Chief Executive Officer. "We're also happy to have formed several new banking relationships during this process and look forward to further developing those ties in the future."
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