Press Release: Mohegan Tribe's gaming authority

The Mohegan Tribal Gaming Authority, or the Authority, the owner and operator of Mohegan Sun in Uncasville, Connecticut, and Mohegan Sun at Pocono Downs in Wilkes-Barre, Pennsylvania, announced that it has engaged RBS Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Credit Suisse Securities (USA) LLC to arrange $715 million in new senior secured credit facilities, comprised of a $100 million senior secured revolving credit facility, a $150 million senior secured term loan A facility, and a $465 million senior secured term loan B facility (collectively, the “new credit facilities”). The closing of the new credit facilities is subject to obtaining lender commitments, as well as market and other conditions. The Authority intends to use the net proceeds of the new credit facilities to repay and terminate its existing revolving credit facility and term loan facility for which Bank of America, N.A. serves as administrative agent, and its existing “first lien, second out” term loan facility for which Wells Fargo Gaming Capital, LLC serves as administrative agent.