Mashantucket Pequot Tribe defaults on 8½% notes after missing payment

By Caroline Salls

Pittsburgh, Dec. 16 - Mashantucket (Western) Pequot Tribe is in default on its 8½% notes due Nov. 15, 2015 because it did not make the interest payment due Nov. 16 on the notes within the 30-day grace period, according to a notice to noteholders from trustee Deutsche Bank Trust Co. Americas.

The trustee said it does not currently intend to accelerate payment on the notes. However, the holders of a majority in principal amount of the notes can direct the trustee to do so.

The Mashantucket Pequot Tribal Nation owns and operates the Foxwoods gaming facilities in Connecticut.

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