Bank of America Merrill Lynch, Deutsche Bank, J.P. Morgan and Credit Suisse have scheduled a bank meeting for 1:30 p.m. EST on Thursday, Feb. 14, to launch a $1.975 billion senior secured financing for Station Casinos, according to sources.

The proposed financing is split between a $1.625 billion B term loan and a $350 million revolving credit facility. Additional details were not available at press time.

The gaming concern was last in market in September with a $775 million loan, for which Station Casinos NP Opco LLC and Station GVR Acquisition were co-borrowers. That transaction included a $200 million, five-year revolver and a $575 million, seven-year B term loan.

The institutional loan cleared the market at L+425, with a 1.25% LIBOR floor and a 99.25 offer price. It includes one year of 101 soft-call protection. Proceeds were used to refinance Station Casinos’ opco debt and loans issued by GVR.

For reference, as of Sept. 30, the company also had in place about $804 million of term debt and $521 million of notes issued at the propco level, SEC filings show.

Station’s properties are located throughout the Las Vegas Valley and include various amenities, including restaurants, entertainment venues, movie theaters, bowling and convention/banquet space, as well as traditional casino-gaming offerings. The company is rated B/B3. – Kerry Kantin