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San Pasqual Casino Development extends note offer14 July 2008VALLEY CENTER, California -- (PRESS RELEASE) -- 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 18, 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 11, 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. |