UNCASVILLE, Conn., Jan. 13, 2021 /PRNewswire/ — Mohegan Gaming & Leisure (“MGE” or the “Firm”) at the moment introduced that it has commenced a non-public providing (the “Providing”) of $1.175 billion combination principal quantity of second precedence senior secured notes due 2026 (the “Notes”). The consummation of the Providing is conditioned on, amongst different issues, MGE’s substitute of its present senior secured credit score services (the “Senior Secured Credit score Services”) with a brand new revolving credit score facility, or an modification and restatement of the Senior Secured Credit score Services into a brand new revolving credit score facility, in both case with commitments of not lower than $250 million (the “New Senior Secured Credit score Facility”) previous to or considerably concurrent with the Providing. The web proceeds from the Providing and borrowings underneath the New Senior Secured Credit score Facility, along with money readily available, shall be used to fund the compensation, satisfaction and discharge of sure present indebtedness of MGE, together with all loans excellent underneath the Senior Secured Credit score Services, all obligations in respect of MGE’s Most important Road time period mortgage facility and MGE’s debt to the Mohegan Tribe in respect of sure subordinated loans, and to pay associated charges and bills.
The Notes shall be assured by sure of the Firm’s subsidiaries.
The Providing shall be made solely to individuals fairly believed to be “certified institutional patrons” pursuant to Rule 144A underneath the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. individuals exterior the USA pursuant to Regulation S underneath the Securities Act. The Notes shall be topic to restrictions on transferability and resale and will not be transferred or resold, besides in compliance with the registration necessities of the Securities Act or pursuant to an exemption therefrom and in compliance with different relevant securities legal guidelines. The Notes is not going to be registered underneath the Securities Act or any state or different securities legal guidelines and will not be supplied or bought in the USA absent registration or an relevant exemption from the registration necessities of the Securities Act and relevant state legal guidelines.
No Supply or Solicitation
This press launch is neither a proposal to promote nor a solicitation of a proposal to purchase the Notes or every other securities and shall not represent a proposal to promote or a solicitation of a proposal to purchase, or a sale of, the Notes or every other securities in any jurisdiction wherein such provide, solicitation or sale is illegal. The Providing is made solely by, and pursuant to, the phrases set forth within the associated providing memorandum. The Providing is just not being made to individuals in any jurisdiction wherein the making or acceptance thereof wouldn’t be in compliance with the securities, blue sky or different legal guidelines of such jurisdiction.
Particular Observe Concerning Ahead-Trying Statements
Some data included on this press launch might include forward-looking statements, throughout the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Alternate Act of 1934, as amended. These statements can generally be recognized by way of forward-looking phrases comparable to “might,” “will,” “anticipate,” “estimate,” “count on” or “intend” and comparable expressions. Such forward-looking data might contain essential dangers and uncertainties that might considerably have an effect on anticipated outcomes sooner or later and, accordingly, such outcomes might differ materially from these expressed in any forward-looking statements made by or on behalf of MGE. Data regarding potential components that might have an effect on MGE’s monetary outcomes is included in its Annual Report on Kind 10-Ok for the fiscal 12 months ended September 30, 2020, in addition to in MGE’s different studies and filings with the Securities and Alternate Fee. Any forward-looking statements included on this press launch are made solely as of the date of this launch. MGE doesn’t undertake any obligation to replace or complement any forward-looking statements to mirror subsequent occasions or circumstances. MGE can not guarantee that projected outcomes or occasions shall be achieved or will happen.
Vice President, Company Finance
Mohegan Gaming & Leisure
SOURCE Mohegan Tribal Gaming Authority