River Rock Entertainment trustee plans $478,194 seventh distribution

By Caroline Salls

Pittsburgh, June 15 – The trustee for River Rock Entertainment Authority’s 9% series A senior notes due 2018 and 8% series B tax-exempt senior notes due 2018 will make a $478,194 seventh interim distribution on June 28, according to a notice from trustee UMB Bank, NA.

The distribution will be made to noteholders of record as of June 27 from a parity-lien debt account.

Series A noteholders will receive $248,928 under the seventh interim distribution, representing $3.43268 of interest paid per $1,000 principal amount outstanding, and series B noteholders will receive $229,266, representing $3.35288 of interest paid per $1,000 principal amount outstanding.

In addition, the trustee said it anticipates future distributions to senior noteholders.

According to the notice, defaults have occurred on the senior notes as a result of the authority’s failure to make interest payments.

In February 2015, the trustee took exclusive control over the note documents.

Geyserville, Calif.-based River Rock Entertainment operates the River Rock Casino. It is a tribal governmental instrumentality of the Dry Creek Rancheria Band of Pomo Indians.

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