“This amendment allows us to accelerate our deleveraging strategy”
Mohegan Tribal Gaming Authority confirms repricing of credit facilities
2017-04-17
Reading time 36 seg
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 entered into an amendment to its Credit Agreement, dated as of October 14, 2016, by and among the Authority, the Mohegan Tribe of Indians of Connecticut, Citizens Bank, N.A., as administrative and collateral agent, and the other lenders and financial institutions party thereto, in order to reduce the annual interest rate margins applicable to the senior secured revolving credit facility, senior secured term loan A facility and senior secured term loan B facility under the Credit Agreement by 0.50%.
"MTGA again thanks the financial community for its continued support as this amendment allows us to accelerate our deleveraging strategy and further strengthens what is fast becoming one of the industry's better balance sheets," said Mario C. Kontomerkos, Chief Financial Officer of the Mohegan Tribal Gaming Authority.
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