The Buena Vista Rancheria of Me-Wuk Indians of California has withdrawn a $220 million bond offering.
The bonds were to be used to finance construction of the tribe's long-planned casino. Two rating agencies had viewed the bonds unfavorably.
The tribe has been trying to open a casino for more than 10 years. The project was dealt a setback in May 2011 when a federal appeals court revived a lawsuit by opponents.
Later that year, in September, the tribe said it had been given approval to start work on the casino but there's been no major update since then. The site is within the tribe's original reservation.
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Buena Vista Gaming Authority has pulled its $220 million bond offering (TSPN-TV 6/5)
Buena Vista Gaming Pulls HY Deal (Leveraged Finance News 5/30)
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Buena Vista Gaming Authority has pulled its $220 million bond offering (TSPN-TV 6/5)
Buena Vista Gaming Pulls HY Deal (Leveraged Finance News 5/30)
Subscription required to view full article. Free trial available. Related Stories:
Buena Vista Rancheria casino in limbo amid court challenge (5/9)
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