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BOCA RATON, FL-Boca Resorts Inc., a Boca Raton, FL-based company that owns and operates luxury resort properties in Florida, has closed on a $325-million senior credit facility. The paper consists of a $200-million principal-term loan and a $125 million principal revolving credit facility. The company plans to use the proceeds from the term loan to redeem its outstanding 9 7/8% senior subordinated notes. Firm officials explains that they also plan to use the revolving credit facility to replace its existing revolving credit facility set to mature in June 2005 as well as for general corporate purposes. The company expects to redeem the outstanding senior subordinated notes by the end of August.Boca Resorts’ portfolio includes the Boca Raton Resort & Club in Boca Raton; the Registry Resort at Pelican Bay, the Edgewater Beach Hotel and Naples Grande Golf Club in Naples; and the Hyatt Regency Pier 66 Resort and Marina, the Radisson Bahia Mar Resort and Yachting Center, and Grande Oaks Golf Club in Fort Lauderdale.

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