Investor Presentaiton
MTGA Balance Sheet: Capital Structure & Liquidity
Ample liquidity with $85.6 million at 3/31/16, not including approximately $100 million of excess
cash earmarked for South Korea
·
Significant potential for additional interest expense savings embedded in Senior and
Subordinated Notes
($ in millions)
As of
3/31/2016
$185.9
Cumulative
Leverage
(3)
Cash and Cash Equivalents
Revolving Credit Facility due 2018
(2)
Senior Sec. Credit Facility (TLA) due 2018
Senior Sec. Credit Facility (TLB) due 2019
Total Secured Debt
(1) (2)
42.0
103.1
(2)
780.2
$925.3
2.6x
2015 Floating Rate Senior Notes due 2017
100.0
2013 9.750% Senior Unsecured Notes due 2021
585.0
Total Senior Debt
$1,610.3
4.5x
2012 11.000% Senior Subordinated Notes due 2018
100.2
Capital Leases
7.7
Other
2.2
Total Recourse Debt
$1,720.4
4.8x
Non-Recourse Debt
19.1
Due to Mohegan Tribe
29.9
Total Debt
$1,769.4
4.9x
(1)
123
Revolver borrowing capacity was $55.5mm as of 3/31/16
(2)
Due dates assume 2012 Senior Sub Notes have been extended, repaid, redeemed, defeased or refinanced
(3)
Based on Covenant EBITDA of $358.5mm for the LTM 3/31/16 period
Mohegan Sun
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