Press Release
March 16, 2015

Holland & Knight Represents Jefferies LLC in $124 Million Financing of New Mohegan Sun Casino Hotel

NEW YORK (March 16, 2015) – Holland & Knight represented investment bank Jefferies LLC in a $124 million financing of the construction of the Earth Hotel, a new 400-room hotel at the Mohegan Sun gaming and entertainment complex on the Mohegan Tribe reservation in southeastern Connecticut. The deal was announced on March 5 at a press conference attended by Connecticut Governor Dannel Malloy and Lieutenant Governor Nancy Wyman.

The transaction represented one of the largest issuances of Tribal Economic Development Bonds to date. It consisted of side-by-side bond offerings by the Mohegan Tribe and the Mohegan Tribal Financing Authority (MTFA), each with separate collateral and under separate bond and security documents. The MFTA’s offering was an innovative structure in which the bonds were primarily secured by lease payments to be made after the completion of construction of the Earth Hotel.

The Holland & Knight team consisted of bond and securities partners Randy DelFranco and Aaron Goldberg and associate Tonya Rodgers; Indian law partner James Meggesto and senior counsel Tim Evans; and real estate partner Jim Spitzer.

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