December 2016

Tribal Gaming Enterprise Obtains Credit Facility, Refinances Taxable Debt

A tribal gaming enterprise obtained a senior secured credit facility that included an approximately $10 million revolving loan, an approximately $30 million taxable term loan and an approximately $25 million tax-exempt term loan. Faegre Baker Daniels represented the administrative agent in the deal. The tax-exempt loan was issued as Tribal Economic Development Bonds, or TED Bonds, and refinanced existing taxable debt used to finance qualifying project costs incurred over the past 10 years.

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