ATLANTIC CITY, N.J., July 2, 2011 /PRNewswire/ -- Marina District Finance Company, Inc., a wholly owned subsidiary of Marina District Development Company, LLC, which develops and owns Borgata Hotel Casino and Spa, today announced that it has completed its offer to exchange all of its outstanding $400.0 million aggregate principal amount of 9-1/2% Senior Secured Notes due 2015 and $400.0 million aggregate principal amount of 9-7/8% Senior Secured Notes due 2018 for new 9-1/2% Senior Secured Notes due 2015 and 9-7/8% Senior Secured Notes due 2018 that have been registered under the Securities Act of 1933, as amended.
The exchange offer expired at 5 p.m., New York City time, on June 28, 2011 (such time and date, the "expiration date"). As of the expiration date, $396.4 million of the 9-1/2% Senior Secured Notes due 2015 and $400.0 of the 9-7/8% Senior Secured Notes due 2018 were validly tendered and accepted for exchange. This amount represents approximately 99.1% of the 9-1/2% Senior Secured Notes due 2015 and 100% of the 9-7/8% Senior Secured Notes due 2018, respectively.
The exchange offer was made pursuant to a registration rights agreement entered into by Marina District Finance Company, Inc. when it originally issued the securities in August, 2010.
This news release shall not constitute an offer to exchange, nor a solicitation of an offer to exchange, any securities. The exchange offer was made only pursuant to a prospectus for the exchange offer, dated May 27, 2011, and related letter of transmittal, which were filed with the United States Securities and Exchange Commission.
SOURCE Marina District Development Company, LLC
