Press Release: Mohegan Tribal Gaming Authority seeks to refinance debt

The Mohegan Tribal Gaming Authority, or the Authority, announced today that it has commenced a solicitation of consents (the “Consent Solicitation”) to amend (the “Proposed Amendment”) the indenture (the “Indenture”) governing the Authority’s 11.5% Second Lien Senior Secured Notes due 2017 (the “Notes”). The Consent Solicitation is being made in accordance with the terms and subject to the conditions stated in a Consent Solicitation Statement dated July 22, 2013 (the “Consent Solicitation Statement”) and in the related Consent Form (together, the “Solicitation Documents”), to holders of record (“Holders”) as of 5:00 p.m., New York City time, on July 22, 2013.

As described more fully in the Solicitation Documents, the principal purpose of the Consent Solicitation is to amend the Indenture to permit the Authority to refinance its outstanding subordinated notes with senior unsecured indebtedness and to enter into certain transactions with the Mohegan Tribe of Indians of Connecticut (the “Tribe”) in the event that the Tribe constructs a hotel on Tribal land currently leased by the Authority.