Mohegan Tribal Gaming Authority Completes $1.2 Billion Refinancing

The Mohegan Tribal Gaming Authority (MTGA) has successfully concluded a significant refinancing strategy, raising a total of $1.2 billion through multiple transactions. This comprehensive initiative involved the issuance of $750 million in First Priority Senior Secured Notes due 2030 and $450 million in Second Priority Senior Secured Notes due 2031. MTGA also formalized a new $250 million revolving credit facility and completed a private exchange of approximately $226 million of existing notes for an additional $250 million of Second Priority notes. Additionally, agreements were reached with note holders to extend the maturity of a portion of existing notes to 2029 and further with The Mohegan Tribe of Indians of Connecticut to extend note maturities. Wachtell, Lipton, Rosen & Katz served as the legal advisor for these transactions, underscoring MTGA's strategic financial repositioning aimed at enhancing its fiscal resilience.