$561M deal for Catskills casino resort stalls, as investors seek counsel
While most of the casino-related drama in New York is unfolding in the lower part of the state, there’s a high-stakes saga unfolding upstate, too. A $561 million municipal bond deal tied to a Catskills casino has been put on ice, pausing a transaction that would reshape ownership of the resort’s non-gaming assets, Bloomberg reported. The unrated, high-yield bonds were set to price Aug. 27 under the management of KeyBanc Capital Markets. Instead, the offering was pulled at the last minute as investors pushed to hire legal counsel — known in muni markets as purchaser’s counsel — before moving forward. […]
This article originally appeared on The Real Deal. Click here to read the full story.
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