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Mohegan Engages Citizens Bank, Others to Refinance Credit Facilities

September 20, 2016, 07:23 AM
Filed Under: Entertainment

The Mohegan Tribal Gaming Authority, or the Authority, the owner of Mohegan Sun in Uncasville, Connecticut, and Mohegan Sun Pocono in Wilkes-Barre, Pennsylvania, announced that it has engaged Citizens Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, SunTrust Robinson Humphrey, Inc., Goldman Sachs Bank (USA), KeyBank National Association and CIT Bank, N.A. to arrange $1.4 billion in new senior secured credit facilities, comprised of a senior secured revolving credit facility, a senior secured term loan A facility, and a senior secured term loan B facility (collectively, the "new senior secured credit facilities").  The closing of the new senior secured credit facilities is subject to obtaining lender commitments, as well as market and other conditions. 

The Authority intends to use the net proceeds of the new senior secured credit facilities to repay and terminate or otherwise retire certain of its existing indebtedness, including its existing senior secured credit facilities for which Citizens Bank, N.A. serves as administrative agent.

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