Mount Airy Lodge to launch $480 million credit facility on Thursday

By Sara Rosenberg

New York, July 17 - Mount Airy Lodge is scheduled to hold a bank meeting on Thursday to launch its proposed $480 million credit facility, according to a market source.

JPMorgan is the lead bank on the deal.

The facility consists of a $25 million five-year revolver, a $395 million funded term loan B and a $60 million 12-month delayed-draw term loan, the source said, adding that price talk is still to be determined.

Proceeds will be used by the Mount Pocono, Pa., resort to build a slots casino.

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