Mashantucket Pequot extends exchange offer for notes to mid-May

By Susanna Moon

Chicago, April 24 - The Mashantucket Pequot Tribal Nation said it again extended the exchange offer and consent solicitation for all its outstanding notes.

The offer will now end at 5 p.m. ET on May 15, extended from April 24, April 10, March 27 and March 13.

As of 5 p.m. ET on April 24, holders had tendered all $477.9 million of the nation's special revenue obligation bonds, $365.95 million, or 99.97%, of its subordinated special revenue obligation bonds and $463,164,000, or 92.63%, of its 8½% notes. The totals remain unchanged from March 13.

In order to complete the exchange, Mashantucket Pequot previously said it must meet various conditions. One condition, receipt of a declination letter from the National Indian Gaming Commission, was satisfied on April 5.

The exchange offer began on Feb. 13 as part of a debt restructuring support agreement.

Epiq Systems is the exchange and information agent.

Mashantucket Pequot owns the Foxwoods Resort Casino and is based in Mashantucket, Conn. The Mashantucket Pequots are a native Algonquin people in southeastern Connecticut.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.