The Seminole Tribe of Florida plans to offer $367.4 million in bonds to finance gaming projects.
The tribe will offer $37.4 million in tax-exempt bonds and $330 million in taxable bonds. "The Tribe intends to use the net proceeds from the issuance and sale of the Bonds to fund various capital expenditures at its gaming facilities and for other improvements and additions to the property of the Tribe," the tribe said in a press release.
Moody’s Investor Service lowered the tribe's credit ratings amid federal scrutiny of the tribe's use of gaming revenues.
Get the Story:
Seminole Tribe to offer $367M in bonds
(South Florida Business Journal 10/28)
Press Release: Seminole Tribe of Florida Announces Proposed Private Offering of $367.4 Million of Gaming Division Bonds Due 2017 (Seminole Tribe 10/28)
Related Stories:
Seminole council
member in NIGC violation report resigns post (7/1)
Law Article: NIGC
and IRS put casino revenue under scrutiny (6/16)
NIGC accuses Seminole Tribe of misusing
gaming revenues (6/4)
Business Deals
Seminole Tribe set to offer $367M in bonds for gaming projects
Thursday, October 28, 2010
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