The Mohegan Tribe of
Connecticut announced a plan to restructure some of its gaming debt.
The tribe plans to exchange about $598 million worth of bonds for new notes. The deal places less restrictions on the tribe's operations.
The tribe also plans to to reduce its line of credit, from $675 million to $475 million.
According to a press release, the tribe owes $1.075 billion on five notes.
Get the Story:
Press Release: Mohegan Tribal Gaming Authority Commences Debt Refinancing Transactions
(Mohegan Tribal Gaming Authority 1/24)
Mohegan Sun’s Owners Seek to Restructure Debt
(The New York Times 1/24)
CT Casino Faces “Wall Of Debt” (AP 1/21)
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