Inn of the Mountain Gods Resort and Casino Announces Expiration of Exchange Offer for its 12% Senior Notes Due 2010
MESCALERO, N.M., Feb. 7, 2011 /PRNewswire/ -- Inn of the Mountain Gods Resort and Casino (the "Company") announced today the expiration of its private offer to exchange (the "Exchange Offer") its outstanding 12% Senior Notes due 2010 (the "Existing Notes") for (1) new 8.750% Senior Notes due 2020 (the "1st-Out Notes"), (2) new Senior PIK Notes due 2020 (the "2nd-Out Notes" and, together with the 1st-Out Notes, the "New Notes") and (3) a pro rata amount of $21 million in cash. The Exchange Offer expired at midnight, New York City time, on February 4, 2011.
i-Deal LLC, the Exchange Agent and Information Agent for the Exchange Offer, has advised that $198,319,000 aggregate principal amount of the Existing Notes were validly tendered and not validly withdrawn prior to the expiration of the Exchange Offer, which represents 99.16% of the aggregate principal amount of Existing Notes outstanding. The Company has accepted for exchange all of the Existing Notes validly tendered and not validly withdrawn. The Company expects to complete the Exchange Offer and to issue the New Notes in exchange for the Existing Notes on or about February 8, 2011.
The New Notes have not been and will not be registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements, and will therefore be subject to substantial restrictions on transfer.
This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Notice regarding forward-looking statements
This news release contains forward-looking statements. The words "will," "may," "should," "believes," "anticipates," "intends," "estimates," "expects," "projects," "plans," "seek" or similar expressions are intended to identify forward-looking statements. All statements in this news release, other than statements of historical fact, including statements regarding the potential terms of the Exchange Offer and New Notes described, are forward-looking statements. The potential transactions described in this press release may not occur on the terms described, or at all. All forward-looking statements speak only as of the date on which they are made. They rely on a number of assumptions concerning future events and are subject to a number of risks and uncertainties, many of which are outside of the Company's control, that could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the factors listed under "Item 1A - Risk Factors" in the Company's Annual Report on Form 10-K for the year ended September 30, 2010. Many of these factors are beyond the Company's ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. The Company disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Inn of the Mountain Gods Resort and Casino
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