Mashantucket Pequot extends exchange for notes

New York, March 13 - The Mashantucket Pequot Tribal Nation said it is extending its exchange offer and consent solicitation for all its outstanding notes.

The expiration is now 5 p.m. ET on March 27 instead of 11:59 p.m. ET on March 13.

As of 5 p.m. ET on March 13, holders had tendered all $477,900,000 of the nation's special revenue obligation bonds, $365,950,000, or 99.97%, of the nation's subordinated special revenue obligation bonds, and $462,164,000, or 92.43%, of the nation's 8½% notes.

Apart from the expiration, the terms of the exchange remain unchanged.

In order to complete the exchange, Mashantucket Pequot requires various conditions to be met, including receipt of a declination letter from the National Indian Gaming Commission. That letter has not yet been received.

The exchange began on Feb. 13 as part of a debt restructuring support agreement.

Epiq Systems is the exchange and information agent.

Mashantucket Pequot owns the Foxwoods Resort Casino and is based in Mashantucket, Conn. The Mashantucket Pequots are a native Algonquin people in southeastern Connecticut.

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