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The Seminole Tribe of Florida Announces Early Results of its Cash Tender Offer For its 6.535% Gaming Division Bonds Series 2005B due 2020

The Seminole Tribe of Florida Announces Early Results of its Cash Tender Offer For its 6.535% Gaming Division Bonds Series 2005B due 2020

PR Newswire

HOLLYWOOD, Fla., Aug. 7, 2017 /PRNewswire/ — The Seminole Tribe of Florida (the “Tribe”) announced today the early results of its previously announced offer to purchase for cash (the “Tender Offer”), subject to certain terms and conditions, up to $100 million (the “Maximum Amount”) of its outstanding 6.535% Gaming Division Bonds Series 2005B due 2020 (the “Bonds”).

On July 24, 2017, the Tribe commenced the Tender Offer in accordance with the terms and conditions set forth in the Offer to Purchase and related Letter of Transmittal, both dated July 24, 2017 (together, the “Tender Offer Materials”), which set forth a more detailed description of the Tender Offer. The Tender Offer will expire at midnight, New York City time, on August 18, 2017 (the “Expiration Date”), unless extended or earlier terminated by the Tribe. As discussed in more detail in the Tender Offer Materials, the Tribe will accept for purchase Bonds only up to the Maximum Amount.


According to information received from Global Bondholder Services Corporation, the Information Agent and Depositary for the Tender Offer, as of 5:00 p.m., New York City time, on August 4, 2017 (the “Early Tender Date”), the Tribe had received valid tenders from holders of the Bonds as outlined in the following table.

Title of Security


CUSIP Numbers


Principal
Amount
Outstanding


Maximum
Amount


Principal
Amount
Tendered


% Tendered

6.535% Gaming
Division Bonds
Series 2005B due
2020


81683RAC8;
U81641AB5;

81683RAD6


$174,970,000


$100,000,000


$64,265,000


36.73%

Subject to the terms and conditions of the Tender Offer, the Early Settlement Date for Bonds validly tendered at or prior to the Early Tender Date and accepted for purchase is expected to occur today, August 7, 2017. Holders that tendered Bonds at or prior to the Early Tender Date and whose Bonds are accepted for payment will be entitled to receive the Total Consideration for the Bonds of $1,021.25 per $1,000 principal amount of Bonds tendered, plus accrued and unpaid interest up to, but not including, the Early Settlement Date. Validly tendered Bonds may no longer be withdrawn.

The obligation of the Tribe to accept for purchase and to pay either the Total Consideration or Tender Offer Consideration, as applicable, and the accrued and unpaid interest on the Bonds pursuant to the Tender Offer is not subject to any minimum tender condition, but is subject to the Maximum Amount and the satisfaction or waiver of certain other conditions described in the Tender Offer Materials. The Tender Offer may be amended, extended, terminated or withdrawn by the Tribe, subject to applicable law.

The Tribe has retained BofA Merrill Lynch to serve as Dealer Manager for the Tender Offer. Global Bondholder Services Corporation has been retained to serve as the Information Agent and Depositary for the Tender Offer. Questions regarding the Tender Offer may be directed to BofA Merrill Lynch at (888) 292-0070 (toll-free) or (980) 388-3646 (collect). Requests for the Tender Offer Materials may be directed to Global Bondholder Services Corporation at (866) 470-4300 (toll-free) or (212) 430-3774 (collect for banks and brokers).

The Tribe is making the Tender Offer only by, and pursuant to, the terms of the Tender Offer Materials. None of the Tribe, the Dealer Manager, the Information Agent and the Depositary make any recommendation as to whether holders of the Bonds should tender or refrain from tendering their Bonds. Holders of the Bonds must make their own decision as to whether to tender Bonds and, if so, the principal amount of the Bonds to tender. The Tender Offer is not being made to holders of the Bonds in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of the Tribe by the Dealer Manager or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

This press release does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any securities nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful.

Forward-Looking Statements

The information made available in this release includes forward-looking statements, which are generally statements about future events, plans, objectives and performance. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward looking statements. Forward looking statements reflect our current expectations, based on currently available information, and are not guarantees. Although we believe that the expectations reflected in such forward looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected.

View original content:http://www.prnewswire.com/news-releases/the-seminole-tribe-of-florida-announces-early-results-of-its-cash-tender-offer-for-its-6535-gaming-division-bonds-series-2005b-due-2020-300500204.html

SOURCE The Seminole Tribe of Florida

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