Mashantucket Pequot Tribe talks $500 million eight-year notes at 8¼%-8½%

By Paul A. Harris

St. Louis, Nov. 7 - The Mashantucket Pequot Tribe set price talk for its $500 million offering of eight-year taxable notes (Ba1/BB+) at 8¼% to 8½% on Wednesday, according to a market source.

Pricing is set for Thursday.

Merrill Lynch & Co. and Morgan Stanly are joint bookrunners for the Rule 144A offering. RBS Greenwich Capital and Wells Fargo Securities are co-managers.

The notes will come with four years of call protection.

Proceeds will be used to repay debt, to fund capital expenditures and for general corporate purposes.

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

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