Puyallup Tribal Gaming Enterprises, Inc

Overview

Deal Type Debt Capital Markets
Size $500 Million
Senior Secured Credit Facilities
Client & Transactional Partners Puyallup Tribal Gaming Enterprises, Inc
Our Role Joint Lead Arranger
Joint Bookrunner
Syndication Agent

Summary

On June 9, 2021, KeyBanc Capital Markets (“KBCM”) successfully closed on the syndication of $500 million Senior Secured Credit Facilities (the “Senior Credit Facilities”) for Puyallup Tribal Gaming Enterprises, Inc. (“PTGE”), a tribal corporation chartered by the Puyallup Tribe of Indians (the “Puyallup Tribe”). The Senior Credit Facilities will be comprised of a $275 million Revolving Credit Facility and a $225 million Term Loan Facility. The Senior Credit Facilities will be used to refinance existing indebtedness, fund ongoing working capital requirements, and pay transaction fees and expenses. KBCM acted as Joint Lead Arranger, Joint Bookrunner and Syndication Agent on the transaction.

The Puyallup Tribe is a federally recognized, self-governed sovereign Native American Tribe whose reservation boundary encompasses a 28.5 square mile area which includes a portion of the cities of Tacoma and Fife in Washington State. Its tribal council consists of seven members. The Tribe currently has approximately 4,400 enrolled members.

Puyallup Tribal Gaming Enterprises, Inc is a component unit of the Tribe. PTGE operates two casino properties, including the Emerald Queen Casino in Tacoma, Washington and the Emerald Queen Hotel and Casino in Fife, Washington.

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