Press Release: Snoqualmie Tribe to refinance casino debt

The Snoqualmie Indian Tribe (Tribe) announced today that it has finalized a refinancing transaction with the closing of a new 5-year $310 million credit facility (the "Credit Facility"). The new Credit Facility consists of a Revolving Credit Facility and a Term Loan A Facility and was led by Bank of America Merrill Lynch. CIT, Key Bank and Capital One Bank served as Joint Lead Arrangers. Proceeds from the new Credit Facility together with excess cash will be used to refinance all of the existing debt at the Tribe's Snoqualmie Casino.

The Tribe will enjoy significant benefits as a result of the completed transaction including lower interest rates, increased cash distributions to the Tribal government for use in providing greater levels of governmental services and benefits to tribal members, and a more flexible financial covenant and debt repayment schedule. The new transaction also includes an accordion feature for additional borrowing during the credit facility term, should the Tribe decide to pursue capital improvements or expansion at the casino.