San Pasqual Casino Development Group Announces Additional Extension of Consent Solicitation Relating to Its 8% Senior Notes Due 2013
VALLEY CENTER, Calif.--(Business Wire)--
San Pasqual Casino Development Group, Inc. (the "Company"), a
wholly owned, tribally chartered corporation formed under the laws of
the San Pasqual Band of Mission Indians (the "Band"), today announced
that it is further extending the date by which consents must be
received pursuant to its previously announced Consent Solicitation
with respect to amendments to the indenture governing its outstanding
8% Senior Notes due 2013 (the "Notes") issued on September 29, 2005
(the "Consent Solicitation"). The Company is extending the expiration
date for the Consent Solicitation to 5:00 p.m., New York City time, on
July 22, 2008, unless earlier terminated or further extended (such
time and date, as they may be further extended, the "Consent Date").
The Consent Solicitation had previously been scheduled to expire on
July 18, 2008. Upon receipt of the requisite consents (which may occur
prior to the Consent Date), the Issuer intends to effect the execution
of a Supplemental Indenture (the "Supplemental Indenture") containing
the amendments. All holders of Notes who have previously delivered
consents do not need to redeliver consents or take any other action in
response to this extension. Other holders of Notes may use the
previously distributed Letter of Consent for purposes of delivering
their consents. Except as noted herein, the terms and conditions of
the Consent Solicitation remain unchanged.
Unless the Consent Solicitation is terminated by the Company for
any reason before the Supplemental Indenture is executed, on the terms
and subject to the conditions of the Consent Solicitation, the
amendments will become operative upon the execution of the
Supplemental Indenture and the Company will pay, promptly following
the Consent Date, to each holder of Notes as of the record date who
has validly delivered (and has not validly revoked) a valid consent on
or prior to the Consent Date, $5 for each $1,000 in principal amount
of the Notes.
The complete terms and conditions of the Consent Solicitation are
set forth in the Consent Solicitation Statement that has previously
been sent to holders of the Notes. Holders are urged to read the
Consent Solicitation documents carefully. Copies of the Consent
Solicitation Statement and related Letter of Consent may be obtained
from Global Bondholder Services Corporation at (212) 430-3774 and
(866) 389-1500 (toll-free).
Merrill Lynch & Co. is the Solicitation Agent for the Consent
Solicitation. Questions regarding the Consent Solicitation may be
directed to Merrill Lynch & Co. at (888) 654-8637 (toll-free) and
(212) 449-4914.
About the Company
The Company is a tribally-chartered corporation formed under the
laws of the Band. The Company was chartered by the general council of
the Band to oversee and direct the development, financing,
construction, operation, maintenance and management of the Valley View
Casino and any of the Band's future gaming operations.
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are subject to known and unknown risks, uncertainties
and other factors that could cause actual events or results to differ
materially from those currently anticipated. The forward-looking
information is based on various factors and was derived using numerous
assumptions. In some cases, you can identify these "forward-looking
statements" by our use of words such as "anticipate," "expect,"
"propose," "plan," "intend," "designed," "estimate," "adjust" or the
negative of those words and other comparable words. You should be
aware that those statements reflect only our current views with
respect to such matters. Actual events or results may differ
substantially. The Company undertakes no obligation to publicly update
or revise any forward-looking statements in connection with new or
future events or otherwise.
San Pasqual Casino Development Group, Inc.
Sarah Iantosca, 760-291-5601
Copyright Business Wire 2008
