New York, NY
(March 20, 2012) - Paul Hastings LLP, a leading global law firm, announced today that the firm represented UBS AG, Stamford Branch, as administrative agent and collateral agent, and UBS Securities LLC, as sole arranger, in connection with a $175,000,000 senior secured term loan facility for Tropicana Entertainment Inc., and UBS AG, Stamford Branch, as issuing bank in connection with a cash collateralized letter of credit facility of up to $15,000,000. The proceeds of the term loan facility will be used to refinance existing indebtedness and for general corporate purposes, and the letter of credit facility will be used for working capital and general corporate purposes.
Leveraged Finance partners Scott Saks
and Michael Chernick
led the Paul Hastings team, which also included Joe Fastiggi
and Valerie Silverman. Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.