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Mountain Gods Resort & Casino $185 million seven-year notes talked at 11½%-11¾%
By Paul A. Harris
St. Louis, Oct. 15 - Price talk is 11½%-11¾% on Mountain Gods Resort & Casino's upcoming sale of $185 million seven-year senior notes (Caa1/B), according to a market source.
The pricing is expected on Friday, the source added.
Citigroup is the bookrunner on the Rule 144A (with registration rights) offering.
The notes will be non-callable for four years.
The company will set up an interest reserve account for first three interest payments.
Proceeds will be used to fund the remaining construction and equipment costs of the casino, repay debt and fund the interest reserve account.
The South Central N.M.-based resort and casino is owned by the Mescalero Apache tribe.
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