Mohegan Tribal Gaming to price $85 million tap of 9¾% notes Thursday; whisper is 102.5-103

By Paul A. Harris

Portland, Ore., Aug. 6 – Mohegan Tribal Gaming Authority plans to price an $85 million add-on to its 9¾% senior notes due 2021 on Thursday, according to a market source.

At mid-morning the market awaited official price talk; however, the deal is whispered at 102.5 to 103, the source said.

BofA Merrill Lynch, RBS Securities Inc., SunTrust Robinson Humphrey Inc., Jefferies LLC, Credit Agricole CIB, and KeyBanc Capital Markets are the lead managers for the Rule 144A and Regulation S deal.

The notes become callable after Sept. 1, 2016 at 107.313.

The Uncasville, Conn.-based Native American gaming and entertainment enterprise plans to use the proceeds to finance the redemption of $85 million of its 11% senior subordinated notes due 2018.

The original $500 million issue priced at par in August 2013.

Upon registration the add-on notes will be fungible with the original notes.

© 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.