Boyd shares fall after buyback announcement
Shares of Boyd Gaming Corp. lost almost 3 percent Friday after the casino operator said it would buy back notes expiring in 2012.
The tender offer to buy back the notes maturing in two years resulted in 58 percent of the outstanding notes being tendered, totaling $92 million, the Las Vegas-based company said.
The tendered 7.75 percent senior subordinated notes have been accepted for purchase by the company.
J.P. Morgan and Bank of America Merrill Lynch were dealer managers and solicitation agents.
Boyd Gaming shares fell 26 cents, or 2.82 percent, Friday to close at $8.96 in shortened postholiday trading on the New York Stock Exchange.