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.
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