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Prospect News home > News index > List of issuers I > Headlines for Inn of the Mountain Gods Resort and Casino > News item |
Mountain Gods Resort upsizes to $200 million, pricing expected early Oct. 20 week
By Paul A. Harris
St. Louis, Oct. 17 - Inn of the Mountain Gods Resort & Casino upsized its offering of seven-year notes (Caa1/B) to $200 million from $185 million, according to an informed source.
The deal is expected to price early in the Oct. 20 week, the source added.
Price talk is 11½%-11¾%.
Citigroup is bookrunner on the Rule 144A (with registration rights) offering.
The company will set up an interest reserve account for first three interest payments.
The notes will be non-callable for four years.
Inn of the Mountain Gods will use proceeds to fund remaining construction and equipment costs of the casino, repay debt and fund interest the reserve account.
The South Central N.M.-based resort and casino is owned by the Mescalero Apache tribe
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