Mohegan Gaming & Entertainment Announces Pricing of $1.175 Billion of Second Priority Senior Secured Notes

UNCASVILLE, Conn., Jan. 15, 2021 /PRNewswire/ — Mohegan Gaming & Leisure (“MGE” or the “Firm”) right this moment introduced that it has priced its beforehand introduced non-public providing (the “Providing”) of $1.175 billion in mixture principal quantity of 8.000% second precedence senior secured notes due 2026 (the “Notes”), at an providing worth of 100% of the principal quantity thereof.  The consummation of the Providing is predicted to happen on or about January 26, 2021, and is conditioned on, amongst different issues, MGE’s alternative 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 consummation of the Providing.  The web proceeds from the Providing and borrowings underneath the New Senior Secured Credit score Facility, along with money available, can be used to fund the reimbursement, 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 Predominant 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 can be assured by sure of the Firm’s subsidiaries.

The Providing can be made solely to individuals fairly believed to be “certified institutional consumers” pursuant to Rule 144A underneath the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. individuals exterior america pursuant to Regulation S underneath the Securities Act.  The Notes can be topic to restrictions on transferability and resale and is probably not 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 won’t be registered underneath the Securities Act or any state or different securities legal guidelines and is probably not supplied or offered in america absent registration or an relevant exemption from the registration necessities of the Securities Act and relevant state legal guidelines.

No Provide or Solicitation

This press launch is neither a suggestion to promote nor a solicitation of a suggestion to purchase the Notes or another securities and shall not represent a suggestion to promote or a solicitation of a suggestion to purchase, or a sale of, the Notes or another securities in any jurisdiction during which 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 isn’t being made to individuals in any jurisdiction during which the making or acceptance thereof wouldn’t be in compliance with the securities, blue sky or different legal guidelines of such jurisdiction.

Particular Be aware Concerning Ahead-Trying Statements

Some info included on this press launch could include forward-looking statements, inside the which 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 equivalent to “could,” “will,” “anticipate,” “estimate,” “count on” or “intend” and related expressions. Such forward-looking info could contain essential dangers and uncertainties that would considerably have an effect on anticipated outcomes sooner or later and, accordingly, such outcomes could differ materially from these expressed in any forward-looking statements made by or on behalf of MGE. Data regarding potential elements that would have an effect on MGE’s monetary outcomes is included in its Annual Report on Type 10-Ok (filed by the Mohegan Tribal Gaming Authority) for the fiscal yr ended September 30, 2020, in addition to in MGE’s different reviews 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 replicate subsequent occasions or circumstances. MGE can’t guarantee that projected outcomes or occasions can be achieved or will happen.

Christopher Jones
Vice President, Company Finance
Mohegan Gaming & Leisure
(860) 862-8000

SOURCE Mohegan Tribal Gaming Authority

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