UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 29, 1997
Louisiana Casino Cruises, Inc.
- -------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Louisiana 33-73534 72-1196619
- -------------------------------------------------------------------------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1717 River Road North, Baton Rouge, Louisiana 70802
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (504) 381-7777
---------------------------
N/A
- -------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events.
Louisiana Casino Cruises, Inc., a Louisiana corporation (the
"Company"), commenced on January 29, 1997 an offer to purchase for cash up to
$3,052,000 aggregate principal amount of its 11 1/2% First Mortgage Notes Due
1998 (the "Notes") for 100% of their principal amount plus accrued interest to
but not including the payment date. The offer will expire at 5:00 p.m., New York
City time, on February 27, 1997 (unless extended) and is being made pursuant to
the requirements of the Indenture, dated as of November 15, 1993 (the
"Indenture"), between the Company and The Bank of New York, as successor Trustee
(the "Trustee"), under which the Notes were issued. The Notes were issued in an
original aggregate principal amount of $51,000,000, of which $44,668,000 are
outstanding as of the date hereof. The terms of the offer are set forth in the
Offer to Purchase, dated January 29, 1997, and the accompanying Letter of
Transmittal.
Section 1029 of the Indenture requires the Company to make an offer to
purchase the Notes when Cumulative Excess Cash Flow (as defined in the
Indenture) at the end of any six-month period ending November 30 or May 31 is at
least $2,000,000 at a price of 100% of the principal amount, plus accrued and
unpaid interest to but not including the payment date. The Company is required
to purchase from holders accepting the offer up to the maximum principal amount
(expressed as a multiple of $1,000) of Notes that may be purchased with the
amount of its Cumulative Excess Cash Flow. Payment for the Notes accepted for
purchase shall be made on a business day not later than February 28, 1997.
For the six months ended November 30, 1996, the Company's Cumulative
Excess Cash Flow was $3,052,000. As a result, the Company is making the offer to
purchase up to $3,052,000 aggregate principal amount of Notes.
If less than all the Notes from the holders accepting the offer are to
be purchased, the particular Notes to be purchased shall be selected by the
Trustee from the Notes of the holders accepting the offer by such method as the
Trustee shall deem fair and appropriate and which may provide for the selection
for purchase of portions of the principal of Notes; provided, however, that no
such partial purchase shall reduce the portion of the principal amount of a Note
not so purchased to less than $1,000.
Assuming the offer is fully subscribed, the total amount of funds
required to purchase the Notes and pay all accrued and unpaid interest will be
approximately $3,140,000. If fewer Notes are tendered, the amount of funds
required will be less. The Company intends to use cash on hand to purchase Notes
and pay all accrued and unpaid interest under the offer.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LOUISIANA CASINO CRUISES, INC.
Dated: February 7, 1997 By:/s/ W. Peter Temling
--------------------
W. Peter Temling, Acting
Chief Financial Officer
MIA3 467652
