The newest Invitation and you may Agree Solicitation ended at p

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August 9, 2022
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August 9, 2022

The newest Invitation and you may Agree Solicitation ended at p

The newest Invitation and you may Agree Solicitation ended at p

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Las vegas , /PRNewswire/ — The fresh Majestic Superstar Gambling enterprise, LLC (“Majestic”) established now the termination and you may benefits of its in earlier times revealed Invitation (this new “Invitation”) on holders of the a dozen.5% / 14.5% Elder Notes due 2016 (brand new “Notes”) being loan providers in a different twelve.5% / fourteen.5% First Lien Covered Term Financing Business (brand new “New Title Mortgage”) plus the related solicitation from consents (the brand new “Concur Solicitation”) throughout the owners of the Cards to the adoption out of proposed amendments on Indenture (the “Indenture”) while the Intercreditor and Lien Subordination Agreement (the latest “Intercreditor Agreement”) relating to the Notes. Regal generated new Invite and you can Concur Solicitation pursuant into Recommendations Memorandum and you may Agree Solicitation Declaration, dated since , since the supplemented from the Supplement No. step 1 dated at the time of (the new “Guidance Memorandum”).

yards. , New york date, into the (the fresh new “Termination Time”). Before the Conclusion Go out, Regal gotten legitimate shipments around $109.2 billion from inside the aggregate dominating level of the fresh Cards, symbolizing obligations regarding The fresh new Term Mortgage for similar aggregate principal amount. On the (new “Closure Big date”), Majestic accepted all of the for example Cards and you can registered toward The Term Financing. Holders out of Notes one to took part in the fresh new Invitation acquired accumulated and you will outstanding interest on Cards as much as, although not including, the new Closing Day, for the bucks. Just after giving effect to your termination away from Cards recognized on Invite, everything $step one.nine million into the aggregate principal amount of the newest Cards are still a good.

Proprietors away from Cards whom made duties in order to become lenders on The brand new Title Mortgage consented to this new advised amendments for the Indenture also to the Intercreditor Contract, which amendments, among other things, got rid of all of the restrictive covenants and you will specific events of standard included in the Indenture, released all of the liens towards security protecting new Cards according to the Indenture and you will increased the amount of allowed obligations put ahead in the Intercreditor Agreement. This new suggested amendments turned into productive into the Closure Time. All the accumulated and you can outstanding notice towards the Notes you to definitely stays a good, and additionally accumulated and unpaid appeal up to new Closure Go out and all sorts of coming attention, would-be paid-in kind for the the amount set forth within the the brand new Intercreditor Arrangement. Accordingly, brand new people of any Cards one to are nevertheless outstanding following Closure Date gets its next attention fee via a payment-in-kind towards the or about .

The Regal Celebrity Local casino, LLC Declares Termination and you will Benefits of the Invite so you can Owners from The Elderly Cards becoming Lenders inside an alternative Label Loan and Relevant Consent Solicitation

Which release is for educational intentions just in fact it is neither a keen give buying otherwise promote neither a good solicitation out-of an offer to acquire otherwise offer people bonds out-of Majestic or some of the subsidiaries or father or mother agencies.

The Majestic Star Gambling enterprise, LLC, is a multi-jurisdictional gambling company that has and you will operates: a couple surrounding dockside playing establishment (Majestic Superstar and you will Majestic Star II) and you will a hotel situated in Gary, Indiana , and you may good Fitzgeralds-branded local casino and you will lodge based in Tunica, Mississippi (Fitz Tunica). Addiitional information concerning Regal Star Local casino, LLC, and its own casino qualities is obtainable within company’s webpages, majesticstar.

Specific comments contained in this press release that aren’t historic the fact is send-appearing comments. For example give-searching comments, and this mirror the most recent views off upcoming situations and you may financial results, cover certain threats and you can concerns. Forward-appearing comments are most of the statements that are not historic reality and might be recognized by conditions like “may,” “desire,” “you’ll,” “will,” “would be to,” “you are going to,” “do,” “acceptance,” “expect,” “faith,” “estimate,” “bundle,” “enterprise,” “assume,” “prospective,” and/or negative ones terms. Such send-looking comments represent all of our requires, values, plans and traditional on the the applicants for the future and other coming occurrences, including all of our power to create adequate working capital, the future result of procedures and you can monetary status, expectations regarding your process of our own gambling establishment qualities, in addition to sufficiency of your dollars stability and money generated away from performing, investing, and you can funding factors for our coming liquidity and you may financing money need. Though these types of submit-appearing statements mirror our an excellent-believe trust and you will reasonable judgment considering current pointers, these types of comments was licensed by the tactics, some of which was beyond our manage, that may end up in our very own real leads to disagree materially of people in the give-lookin comments, including, but not limited by the standards underneath the titles “Preventive Report Regarding Send-Looking Statements” and you may “Risk Circumstances” throughout the Information Memorandum. Regal assumes no duty in order to posting or supplement submit-looking statements one getting untrue due to after that incidents, the newest information if not.

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