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Steven Paul McSloy



Illustrative Matters

  • Represented the Shingle Springs Tribal Gaming Authority in its $190 million refinancing of its existing bank loan for its Red Hawk Casino located in Northern California. The refinancing significantly reduced the Authority’s interest costs and allowed for future expansion of its very successful casino. Previously represented the Authority in its combined $505 million Rule 144A bond offering and bank credit agreement in 2013.
  • Represented a syndicate of lending banks as well as a group of investment banks on issues of tribal law regarding the Mohegan Tribal Gaming Authority’s $1.9 billion refinancing consisting of a $500 million private placement bond offering and a $1.4 billion senior secured credit facility. The proceeds were used in part to fund $785 million in tender offers for and a $100 million prepayment of certain other debt of the Authority, which owns and operates the Mohegan Sun gaming and entertainment complex in Uncasville, Connecticut and the Mohegan Sun Pocono casino and resort in Pennsylvania.
  • Represented a syndicate of lenders in a $115 million Senior Secured Credit Facility for the Navajo Transitional Energy Company, operator of the Navajo coal mine on the Navajo Nation reservation. The funds were used to pay off the company’s acquisition loan for the mine, which had allowed the Navajo Nation to take control of its natural resources on an unprecedented scale for an Indian tribe.
  • Represented KIRA Incorporated, an award-winning federal government contracting company, in its acquisition by the Tlingit Haida Tribal Business Corporation, an economic development arm of the Central Council of the Tlingit Haida Indian Tribes of Alaska. The acquisition will allow KIRA to grow by virtue of government contract set asides for Native American Tribes, and will provide significant revenues to the 30,000 member Tlingit Haida tribe.
  • Represented KeyBanc Capital Markets in bringing the Navajo Nation’s $52.9 million investment-grade rated tax-exempt general obligation bonds to market. This private placement was rated BBB+ by Standard & Poor’s and, as an unsecured full faith and credit issuance by the Nation and not tied to gaming, was unique among tribal financing transactions. The funds were used to refinance an existing bank loan that had been used to build courthouses and other public facilities on the Nation’ reservation. The Native American Finance Officers Association (NAFOA) awarded its Deal of the Year Award to this groundbreaking general obligation bond issuance.
  • Acted as Native American Law counsel to the financial institutions involved in Mohegan Sun’s 2015 $85 million offering of Senior Notes, $95 million amendment to its Senior Secured Credit Facility and partial redemption of $175 million of its 11% Senior Subordinated Notes.
  • Represented KeyBank, N.A. and KeyBank Government Finance in several loans to the Navajo Nation, including a $60 million term loan refinancing, a $2.3 million emergency loan financing for water infrastructure and a $6.8 million term loan financing for MIS equipment, all of which were governed by Navajo Nation Law and called for dispute resolution in the Navajo Nation courts.
  • Represented a Tribe in a $505 million combined high-yield bond offering and syndicated bank loan, a $58 million management contract termination and amendments to the Tribe’s compact with the state of California.
  • Represented Credit Suisse and other investment banks in multiple refinancings of a Tribe’s $1.7 billion in debt.
  • Represented a Tribe in a $160 million high-yield bond offering for casino expansion.
  • Represented JP Morgan in a $230 million offering of investment grade notes used to construct a new hotel and other resort amenities.
  • Represented Merrill Lynch in a $160 million syndicated bank loan to build a destination resort casino complex in Alabama.
  • Represented a Tribe in a $310 million high yield, tax-exempt and secured bank loan facility to finance a major expansion of its resort.
  • Represented JP Morgan Securities in connection with a $60 million letter-of-credit-backed variable rate debt offering used for equipment and capital expenditures.
  • Represented KeyBank in a $60 million Build America Bond transaction, the first large-scale loan to be governed solely by tribal law and tribal courts. This transaction was awarded the “Deal of the Year” award in 2010 by the Native American Finance Officers Association (NAFOA).
  • Represented the investment bank in a $170 million follow-on issuance of investment grade bonds, including a consent solicitation of holders of previously issued tax-exempt bonds.
  • Represented Merrill Lynch in a $58.5 million series of tax-exempt and taxable issuances of debt for expansion and infrastructure improvements.
  • Represented a real estate developer of a planned $700 million phased gaming and entertainment destination in an environmentally sensitive area, in partnership with an Indian nation, and negotiation of development and management agreements.
  • Represented LiveNation in negotiating a long-term lease with Mohegan Sun Hotel/Casino for a House of Blues night club and a Foundation Room private club to anchor a new hotel tower.
  • Represented the developer of a planned $500 million project to convert a San Francisco Bay naval base into an urban Indian gaming facility and resort complex.
  • Represented a bond insurer in connection with a $140 million high-yield bond offering.
  • Represented CIBC World Markets in connection with a $200 million term loan and $20 million revolving loan for the acquisition of the Reno Hilton Hotel and Casino by Grand Sierra Resorts.
  • Represented the investment bank in a proposed $350 million high-yield bond offering to construct a casino and resort facility in Northern California.
  • Represented a Tribe in efforts to refinance more than $300 million in senior notes approaching maturity.
  • Represented a syndicate lender in its participations in a $230 million senior secured credit facility for the Tulalip Tribes of Washington, a $1.2 billion revolving credit facility for the Mohegan Tribal Gaming Authority, a $700 million senior secured term loan to the Seminole Tribe of Florida and a $900 million senior secured revolving loan to Wynn Las Vegas LLC.
  • Represented a mining company in the negotiation of a minerals lease of Indian lands and related federal permits.
  • Represented an insurance company in researching and developing captive insurance companies on Indian reservations.
  • Represented a Tribe in connection with $20 million and $25.5 million issuances of tax-exempt, variable rate demand bonds to finance eligible resort expansion projects.
  • Represented insurance company lenders in a $35 million refinancing of casino construction debt.
  • Represented a Tribe in $50 million increase to its existing bank loan agreements.
  • Represented a utility in considering a wind power project on Indian land in the Southwest.
  • Represented a natural resources company in considering issues related to damages to Indian lands.
  • Represented a Tribe in the workout of casino financing.
  • Represented a Tribe in a $45 million hotel financing.
  • Represented the lender in connection with a $17 million bank credit facility for a Northeast Indian nation.
  • Represented a Tribe in connection with a $40 million secured credit facility to provide liquidity for a tribe facing challenges from the state and federal governments.
  • Represented a bank providing an additional credit facility to a Northwestern Tribe.
  • Represented a retailer in development of retail space at the Viejas Outlet Center on the Viejas Indian reservation in Southern California, including negotiations with the BIA.
  • Represented three lessees of space in the Tulalip Tribe’s Seattle Premium Outlets in Washington state.
  • Represented a lender in amendments an existing credit facility for a Tribe’s casino.
  • Represented a Las Vegas gaming company in negotiations of a proposed management contract with an Indian nation.
  • Represented a real estate investor regarding the transfer of interests in a resort lodge on Indian land.
  • Represented a developer in an innovative proposal for off-balance sheet financing to expand a tribal casino and build a hotel.
  • Represented a developer considering a tribal casino project in a heavily populated urban area.
  • Represented a lender in providing emergency funding to an Indian nation facing a drinking water crisis.
  • Represented an Indian Nation in strategizing gaming expansion across state borders.
  • Represented an investment bank in the transfer of a BIA-guaranteed loan made to an Indian Tribe.
  • Represented a developer in considering fee-to-trust land acquisition for gaming.
  • Represented a Tribe's government in planning its first venture into gaming, including multiple planned casinos in different states.
  • Represented a tribal entity formed to pursue off-reservation gaming opportunities.
  • Conducted research and analysis for the development of a hedge fund to be owned and operated by an Indian nation.
  • Represented an Indian nation in a gaming technology joint venture.
  • Represented a casino in a $16 million purchase of video gaming terminals and related licensed intellectual property.
  • Represented a Native American entrepreneur in negotiations with financial sources and Indian nations in pursuit of a leveraged buyout, wind power project and other opportunities for Indian nations.

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