Mohegan Tribal launches $465 million term B at Libor plus 450-475 bps

By Sara Rosenberg

New York, Oct. 21 - Mohegan Tribal Gaming Authority launched its $465 million six-year term loan B on Monday with price talk of Libor plus 450 basis points to 475 bps with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The B loan has hard call protection of 102 in year one and 101 in year two, the source said.

The company's $715 million credit facility (B2) also includes a $100 million five-year revolver and a $150 million five-year term loan A.

Commitments are due on Nov. 4, the source added.

RBS Securities Inc., Credit Suisse Securities (USA) LLC and BofA Merrill Lynch are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

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

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