New Issue: Mohegan Tribal Gaming upsized $225 million of 10-year notes yield 7 1/8%

By Paul A. Harris

St. Louis, July 29 - Mohegan Tribal Gaming Authority priced an upsized quick-to-market $225 million issue of 10-year senior subordinated notes (Ba3/BB-) at par to yield 7 1/8% on Thursday, according to a syndicate source.

Price talk was 7% to 7¼%.

Citigroup, Banc of America Securities and SG Americas Securities ran the books for the Rule 144A issue.

Proceeds will be used to repurchase the Uncasville, Conn., tribal gaming company's 8 1/8% senior notes due 2006 and its 8 3/8% senior subordinated notes due 2011.

Issuer:	Mohegan Tribal Gaming Authority
Amount:	$225 million (increased from $200 million)
Maturity:	Aug. 15, 2014
Security description:	Senior subordinated notes
Bookrunners:	Citigroup, Banc of America Securities, SG Americas Securities
Coupon:	7 1/8%
Price:	Par
Yield:	7 1/8%
Spread:	255 basis points
Call features:	Treasuries plus 50 basis points make-whole call until Aug. 15, 2009, then callable at 103.563, 102.375, 101.188, par on or after Aug. 15, 2012
Pricing date:	July 29
Settlement date:	Aug. 3
Ratings:	Moody's: Ba3
	Standard & Poor's: BB-
Price talk:	7%-7¼%

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