Mashantucket Pequot extends term A facility, forbearance agreement

By Sarah Lizee

Olympia, Wash., Dec. 28 – Mashantucket Pequot Tribal Nation extended its term A facility with Bank of America, NA as administrative agent to June 30, 2020 and its forbearance agreement with senior lenders to June 30, 2019, according to a press release.

The facility was realigned on Dec. 12 with the assistance of Centerview Partners, LLC to mirror Mashantucket Pequot’s term B facility maturity date.

"With the reality of competition expanding throughout the northeast, Foxwoods continues to add a variety of non-gaming and family-friendly offerings in preparation for the imminent changes to come," Rodney Butler, chairman of Mashantucket Pequot, said in the release.

“By realigning our term A obligations and extending our forbearance agreement, we can better ensure that our ongoing plans will be compatible with long-term profitability."

Mashantucket Pequot is the owner of the Foxwoods Resort Casino and is based in Mashantucket, Conn.

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