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Montreign Operating Company Upsizes Building Term Loan Facility
- Client News
- June 7, 2017
Paul, Weiss advised Montreign Operating Company, LLC, a subsidiary of Empire Resorts, in an amendment to its Building Term Loan Agreement and certain related agreements. Under the agreement, Montreign will borrow an additional $35 million from a lending syndicate led by Credit Suisse AG, Cayman Islands Branch. The additional borrowings will be added to Montreign’s $485 million building loan facility and be used to fund Montreign’s construction of Resorts World Catskills, a $1.2 billion four-season destination resort located in Sullivan County, New York, which will include a casino, two hotels, a golf course, water park and retail shopping.
The Paul, Weiss team included real estate partner Harris Freidus and counsel Karla Booth; and financing counsel Bruce Gruder.