MASHANTUCKET, Conn.--(BUSINESS WIRE)--The Mashantucket Pequot Tribal Nation (“MPTN”), owner of Foxwoods Resort Casino®, today announced that it has further extended its previously announced exchange offers for all of its outstanding series of notes and related consent solicitations through April 24, 2013 at 5:00 p.m. The exchange offers and related consent solicitations were commenced on February 13, 2013, in association with MPTN’s previously disclosed debt restructuring support agreement.
According to Epiq Systems, Inc., which is acting as the Exchange and Information Agent for the exchange offers, through 5:00 p.m., New York City time, on April 10, 2013, the following amounts have been validly tendered and applicable consents validly delivered:
- $477,900,000 principal amount of MPTN’s Special Revenue Obligation bonds, representing 100% of the outstanding principal amount of the Special Revenue Obligation bonds subject to the exchange offers;
- $365,950,000 principal amount of MPTN’s Subordinated Special Revenue Obligation bonds representing approximately 99.97% of the outstanding principal amount of the Subordinated Special Revenue Obligation bonds; and
- $463,164,000 principal amount of MPTN’s 8.5% Notes, representing approximately 92.63% of the outstanding principal amount of the 8.5% Notes.
The exchange offers and related consent solicitations were set to expire at 5:00 p.m. New York City time on April 10, 2013. Except for the extension of the expiration date, all other terms of the exchange offers and consent solicitations remain unchanged.
On April 5, 2013, MPTN received a declination letter from the National Indian Gaming Commission as further described in the Offer to Exchange dated as of February 13, 2013.
The notes being offered will not be registered under the Securities Act of 1933, as amended, or any other applicable securities laws. Unless so registered, the notes may not be offered, sold, pledged or otherwise transferred within the United States or to or for the account of any U.S. person, except pursuant to an exemption from the registration requirements thereof.
About the Mashantucket Pequot Tribal Nation
The Mashantucket Pequots are a native Algonquin people in southeastern Connecticut who endured centuries of conflict and survive today on the oldest continuously occupied reservation in the U.S., dating to its establishment in 1666. As the first native people within the borders of the continental United States to suffer attempted genocidal massacre by Puritan Colonists in 1637, the Pequots and their repatriation is an unprecedented story of restoration exhibited in detail at MPTN’s world-class Museum and Research Center (www.pequotmuseum.org).
Disclaimer
This press release does not constitute an offer to sell or buy, or a solicitation of an offer to sell or buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are statements that could be deemed forward-looking statements. These statements are based on current expectations, beliefs, estimates, forecasts, projections and management assumptions. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks and uncertainties that are difficult to predict. All forward-looking statements should be evaluated with an understanding of their inherent uncertainty. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date they were made. MPTN does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date of this press release except as required by law. All forward-looking statements attributable to MPTN or persons acting on MPTN behalf are expressly qualified in their entirety by this cautionary statement.
