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The Invitation and Consent Solicitation ended at p

The Invitation and Consent Solicitation ended at p

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Las vegas , /PRNewswire/ — Brand new Majestic Star Gambling establishment, LLC (“Majestic”) announced today brand new expiration and final results of its before launched Invite (new “Invitation”) on the owners of the a dozen.5% / 14.5% Senior Cards owed 2016 (the latest “Notes”) to be loan providers within the an alternate several.5% / fourteen.5% First Lien Safeguarded Term Loan Business (the “The fresh Label Mortgage”) while the associated solicitation out-of consents (the brand new “Agree Solicitation”) from the owners of the Notes for the adoption regarding proposed amendments towards the Indenture (this new “Indenture”) additionally the Intercreditor and Lien Subordination Contract (the latest “Intercreditor Agreement”) relating to the Notes. Majestic produced the newest Invitation and Concur Solicitation pursuant towards the Advice Memorandum and Concur Solicitation Report, dated by , given that supplemented of the Supplement No. step 1 dated by (new “Information Memorandum”).

yards. , New york city go out, with the (the latest “Conclusion Big date”). Ahead of the Termination Day, Majestic gotten appropriate deliveries of around $109.dos million for the aggregate prominent amount of the newest Cards, representing requirements about The latest Title Financing for similar aggregate principal amount. To the (the fresh “Closing Day”), Majestic recognized all of the like Cards and entered on the The brand new Term Mortgage. Holders out of Cards that participated in the Invite acquired accrued and outstanding interest toward Notes doing, but not in addition to, new Closure Date, in the cash. Shortly after offering impression toward cancellation of Cards acknowledged throughout the Invitation, as much as $step one.nine mil from inside the aggregate prominent number of brand new Cards are a fantastic.

Proprietors away from Cards just who produced commitments in order to become loan providers regarding the New Term Mortgage approved the fresh recommended amendments into Indenture also to this new Intercreditor Arrangement, which amendments, among other things, removed all limiting covenants and you will specific events out of standard included in the Indenture, released most of the liens to your security protecting the fresh new Notes under the Indenture and you may improved the level of allowed financial obligation put ahead about Intercreditor Contract. The latest advised amendments turned into active to your Closing Go out. Every accrued and you may unpaid attention to your Cards that remains an excellent, along with accumulated and you can delinquent interest up to new Closure Date and all sorts of upcoming desire, could be paid in form into the the quantity set forth for the brand new Intercreditor Contract. Accordingly, new people of any Cards one will still be outstanding after the Closing Go out can get its second interest payment via an installment-in-kind for the or just around .

The newest Regal Superstar Gambling enterprise, LLC Declares Termination and you can Benefits of its Invitation to People away from An excellent Elderly Cards to become Lenders within the a different Term Financing and you may Associated Agree Solicitation

So it release is for informative purposes only that will be none a keen promote to buy otherwise offer nor a great solicitation of a deal to shop for otherwise sell one securities out-of Majestic or any of their subsidiaries or parent organizations.

The latest Regal Celebrity Gambling enterprise, LLC, is a multiple-jurisdictional gambling business you to owns and you will works: two surrounding dockside playing place (Majestic Celebrity and Regal Superstar II) and you will a hotel located in Gary, Indiana , and an effective Fitzgeralds-branded local casino and you can resorts located in Tunica, Mississippi (Fitz Tunica). Details regarding Regal Star Casino, LLC, and its own gambling establishment functions is obtainable from the organization’s site, majesticstar.

Particular comments in this pr release which are not historical facts are pass-lookin comments. Like send-looking comments, which mirror the most recent views from future events and financial results, encompass particular threats and uncertainties. Forward-looking statements become all of the comments which are not historic fact and you will is going to be identified by terminology particularly “may,” “desire,” “you are going to,” “tend to,” “would be to,” “you can expect to,” “carry out,” “anticipate,” “anticipate,” “believe,” “estimate,” “plan,” “enterprise,” “assume,” “prospective,” or the negative of those terminology. Such submit-searching statements represent our very own needs, philosophy, agreements and you can standard in the our very own applicants for the future and other coming events, eg the capability to create adequate working capital, the upcoming consequence of operations and monetary position, expectations regarding the process your gambling establishment attributes, and also the sufficiency in our bucks balance and money generated out-of doing work, expenses, and you may financing points in regards to our coming liquidity and you may money financing need. In the event these pass-lookin statements mirror our very own a good-believe faith and you may sensible wisdom predicated on most recent recommendations, these types of comments is qualified from the techniques, some of which try past the handle, which will result in our real brings about differ materially off the individuals regarding the submit-searching comments, along with, although not limited by the factors under the headings “Preventive Statement Of Forward-Looking Statements” and “Risk Situations” regarding Advice Memorandum. Majestic takes on no responsibility so you can posting or enhance forward-lookin statements you to definitely end up being false due to subsequent situations, brand new guidance or otherwise.

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