Foxwoods Casino Owners Restructure $2.3B In Debt

Law360, New York (July 2, 2013, 3:00 PM EDT) -- After four years of negotiations, the Native American tribe that owns Foxwoods Resort Casino has closed on a deal that restructures about $2.3 billion in debt and gives the group additional funds as it targets new projects, according to a Monday statement.

A series of connected deals shaves the Mashantucket (Western) Pequot Tribal Nation's debt by $550 million and gives it a new $20 million term loan, as well as a $5 million revolving credit line, according to a statement. Hit hard by the recession, the...
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