Mohegan Tribal Gaming delays sale of $425 million eight-year notes; pricing possible Aug. 5 week

By Aleesia Forni

Virginia Beach, Va., Aug. 2 - Mohegan Tribal Gaming Authority has postponed its planned $425 million offering of eight-year senior notes, according to a syndicate source.

The source said the deal could price during the Aug. 5 week.

Mohegan had expected the deal to price on Thursday.

Credit Suisse Securities (USA) LLC, RBS Securities Inc., Goldman Sachs & Co., Credit Agricole CIB, SunTrust Robinson Humphrey Inc., Jefferies LLC, BofA Merrill Lynch and Nomura are the joint bookrunners.

The Rule 144A for life notes become callable in three years at par plus 75% of the coupon. The notes feature a 101% poison put.

The Montville, Conn.-based owner and operator of gaming properties plans to use the proceeds to refinance its third-lien notes.

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