FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / News / Read News

Print

Mohegan Tribal Gaming Authority Hires RBS, Others to Arrange $715MM Credit Facilities

October 18, 2013, 07:10 AM
Filed Under: Hospitality

The Mohegan Tribal Gaming Authority, or the Authority, the owner and operator of Mohegan Sun in Uncasville, CT, and Mohegan Sun at Pocono Downs in Wilkes-Barre, PA, announced that it has engaged RBS Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Credit Suisse Securities (USA) LLC to arrange $715 million in new senior secured credit facilities, comprised of a $100 million senior secured revolving credit facility, a $150 million senior secured term loan A facility, and a $465 million senior secured term loan B facility (collectively, the "new credit facilities"). The closing of the new credit facilities is subject to obtaining lender commitments, as well as market and other conditions. The Authority intends to use the net proceeds of the new credit facilities to repay and terminate its existing revolving credit facility and term loan facility for which Bank of America, N.A. serves as administrative agent, and its existing "first lien, second out" term loan facility for which Wells Fargo Gaming Capital, LLC serves as administrative agent.

The Authority is an instrumentality of the Mohegan Tribe of Indians of Connecticut, or the Tribe, a federally-recognized Indian tribe with an approximately 544-acre reservation situated in southeastern Connecticut, adjacent to Uncasville. The Authority has been granted the exclusive authority to conduct and regulate gaming activities on the existing reservation of the Tribe, including the operation of Mohegan Sun, a gaming and entertainment complex located on a 185-acre site on the Tribe's reservation. Through its subsidiary, Downs Racing, L.P., the Authority also owns and operates Mohegan Sun at Pocono Downs, a gaming and entertainment facility located on a 400-acre site in Plains Township, Pennsylvania, and several off-track wagering facilities located elsewhere in Pennsylvania.







Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.