The two banks are lenders in the $650 million RC due in 2010. Over the next several months, the Tribal concern and the steering committees will work toward building support for the agreement and implementing the restructuring, according to the announcement.īank of America and Wells Fargo will arrange a $30 million working capital facility for the gaming concern with a 30-month term beginning on the restructuring date.
The announcement comes nearly a year after it was originally thought the company would reach an accord. The Mashantucket Pequot Tribal Nation, the Tribal gaming concern that owns Foxwoods Resort Casino in Connecticut, yesterday announced that it has reached an agreement with steering committees of its lenders and bondholders to restructure $2.2 billion of outstanding indebtedness.
