The Invitation and Agree Solicitation ended at p

The Invitation and Agree Solicitation ended at p

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Vegas , /PRNewswire/ — The fresh Regal Celebrity Casino, LLC (“Majestic”) revealed now this new termination and you will final results of their prior to now launched Invitation (the brand new “Invitation”) toward proprietors of their 12.5% / 14.5% Elderly Notes due 2016 (brand new “Notes”) being loan providers in the a new twelve.5% / 14.5% Very first Lien Protected Label Mortgage Facility (the fresh “The new Name Mortgage”) and the associated solicitation out of consents (new “Consent Solicitation”) in the holders of the Notes into adoption away from suggested amendments on the Indenture (the fresh new “Indenture”) and the Intercreditor and you will Lien Subordination Contract (new “Intercreditor Arrangement”) relating to the Cards. Majestic generated the new Invitation and you will Agree Solicitation pursuant on Guidance Memorandum and Concur Solicitation Statement, dated by , as formulated by the Complement Zero. step 1 dated as of (the latest “Guidance Memorandum”).

meters. , New york city big date, for the (the fresh new “Termination Go out”). Before the Termination Date, Regal gotten valid deliveries of approximately $109.2 billion for the aggregate prominent quantity of new Cards, representing responsibilities on The brand new Label Mortgage for the very same aggregate dominating count. To the (new “Closing Big date”), Regal approved all the including Notes and you will joined into The Label Mortgage. People from Notes you to took part in the latest Invitation acquired accrued and you can unpaid interest into the Cards doing, not along with, the brand new Closure Big date, for the dollars. Immediately following providing feeling to your cancellation regarding Notes recognized regarding the Invitation, up to $step one.9 million when you look at the aggregate principal quantity of the fresh new Notes are still an excellent.

People out-of Cards which generated duties to be lenders regarding This new Label Financing decided to the fresh suggested amendments toward Indenture and also to the fresh Intercreditor Arrangement, and that amendments, among other things, eliminated most of the limiting covenants and you can specific events out-of default contained in the Indenture, put-out all of the liens towards security securing this new Notes in Indenture and you will 5 free spins no deposit enhanced the level of permitted obligations place forth regarding Intercreditor Contract. New proposed amendments became energetic for the Closure Big date. All the accrued and you can outstanding appeal on Cards you to definitely remains a great, also accrued and you will unpaid desire up to and including brand new Closing Date and all of coming attract, could well be paid in form towards the quantity set forth within the the brand new Intercreditor Contract. Correctly, the brand new holders of any Notes one to are still a great following Closing Big date will receive the 2nd focus commission through a cost-in-kind on the or just around .

The new Regal Star Gambling establishment, LLC Declares Conclusion and you may Results of their Invite to Holders out of An excellent Senior Notes to become Loan providers when you look at the an alternate Label Mortgage and you may Relevant Agree Solicitation

This discharge is actually for informational objectives only and that’s none a keen provide to order or offer nor good solicitation away from an offer buying otherwise offer one ties away from Majestic or any one of their subsidiaries or mother or father entities.

The fresh Regal Star Gambling establishment, LLC, are a multi-jurisdictional gambling team that owns and you may operates: several surrounding dockside gaming institution (Majestic Superstar and you will Regal Superstar II) and a resorts based in Gary, Indiana , and you can an excellent Fitzgeralds-branded casino and hotel based in Tunica, Mississippi (Fitz Tunica). Considerably more details regarding the Regal Star Local casino, LLC, as well as gambling establishment characteristics can be found in the businesses site, majesticstar.

Certain statements within this news release which aren’t historic truth is submit-lookin statements. Such as for example forward-appearing statements, hence reflect the latest feedback out-of coming events and you will financial show, cover particular dangers and uncertainties. Forward-looking statements tend to be most of the comments that are not historic reality and you will is going to be acquiesced by terminology for example “can get,” “want,” “you’ll,” “commonly,” “is,” “you are going to,” “create,” “invited,” “anticipate,” “trust,” “estimate,” “package,” “project,” “assume,” “potential,” or perhaps the bad of these terms. These types of pass-looking comments depict our very own needs, viewpoints, plans and requirement throughout the our candidates for future years or other future situations, particularly all of our power to make sufficient working capital, our coming results of businesses and you can monetary standing, expectations concerning your procedure of our gambling establishment features, as well as the sufficiency of your cash balances and cash made away from doing work, using, and you will financial support points for the future liquidity and resource capital needs. Regardless of if this type of give-appearing statements reflect all of our a-trust trust and practical judgment according to latest guidance, such comments was accredited because of the techniques, some of which try past all of our control, which will result in all of our real results to differ materially regarding the individuals on the forward-looking comments, plus, not restricted to the standards within the titles “Preventive Report From Submit-Searching Statements” and you can “Exposure Affairs” throughout the Guidance Memorandum. Majestic takes on no obligation in order to change or complement forward-lookin comments one to getting not true due to next incidents, the fresh advice or otherwise.




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