The Mohegan Tribal Gaming Authority, the owner of Mohegan Sun in Uncasville, CT and Mohegan Sun Pocono in Wilkes-Barre, PA has engaged Citizens Bank, Merrill Lynch, Credit Suisse Securities, SunTrust Robinson Humphrey, Goldman Sachs Bank, KeyBank and CIT Bank to arrange $1.4 billion in new senior secured credit facilities. The facilities are comprised of a senior secured revolving credit facility, a senior secured term loan A facility, and a senior secured term loan B facility.

The closing of the new senior secured credit facilities is subject to obtaining lender commitments, as well as market and other conditions. The authority intends to use the net proceeds of the new senior secured credit facilities to repay and terminate or otherwise retire certain of its existing indebtedness, including its existing senior secured credit facilities for which Citizens Bank serves as administrative agent.

The authority has been granted the exclusive authority to conduct and regulate gaming activities on the existing reservation of the tribe, including the operation of Mohegan Sun, a gaming and entertainment complex located on an approximately 185-acre site on the tribe’s reservation. Through its subsidiary, Downs Racing, the authority also owns and operates Mohegan Sun Pocono, a gaming and entertainment facility located on an approximately 400-acre site in Plains Township, PA and several off-track wagering facilities in Pennsylvania.

The Tribe’s gaming operation at Mohegan Sun is one of only two legally authorized gaming operations in southern New England offering traditional slot machines and table games.