Mohegan Gaming plans to refinance with at least $250 million revolver

By Cady Vishniac

Detroit, Jan. 13 – Mohegan Gaming & Entertainment (formerly Mohegan Tribal Gaming Authority) plans to refinance its senior secured credit facilities concurrent with its offering of new notes, according to a press release.

The closing of the new notes is conditioned upon the company either replacing its senior secured credit facilities with a new revolver or amending and restating its senior secured credit facility into a new revolver of at least $250 million.

Proceeds from the offering of new notes, borrowings under the new revolver and cash on hand will be used to fund the repayment, satisfaction and discharge of existing debt, including all loans outstanding under the current senior secured credit facilities, all obligations under the company’s Main Street term loan facility and the company’s debt to the Mohegan Tribe in the form of subordinated loans, as well as to pay related fees and expenses.

Mohegan Gaming is an Uncasville, Conn.-based operator of gaming and entertainment enterprises.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.