Seminole Tribe of Florida Announces Proposed Private Offering of $367.4 Million of Gaming Division Bonds Due 2017

HOLLYWOOD, Fla., Oct. 28 /PRNewswire/ -- The Seminole Tribe of Florida, or the Tribe, announced today that it proposes to offer, subject to market and other conditions, $37,385,000 of Seminole Tribe of Florida Gaming Division Bonds, Series 2010A (Tax-Exempt) due 2017 and $330,000,000 of Seminole Tribe of Florida Gaming Division Bonds, Series 2010B (Taxable) due 2017 (collectively, the "Bonds") in a private offering to be conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended.

The Bonds will be special, limited obligations of the Tribe secured by a pledge of the revenues generated by certain of the Tribe's gaming facilities on a parity with the previously issued Gaming Division Bonds.  The Tribe intends to use the net proceeds from the issuance and sale of the Bonds to fund various capital expenditures at its gaming facilities and for other improvements and additions to the property of the Tribe.

The Bonds proposed to be offered will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States or to any U.S. persons absent registration under the Securities Act or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Bonds will be offered only to "qualified institutional buyers" under Rule 144A of the Securities Act or, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Bonds, nor shall there be any offer, solicitation or sale of any Bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful.  Any offers of the Bonds will be made only by means of a confidential offering memorandum.  The exact terms and timing of the proposed offering will depend upon market conditions and other factors, and the Tribe gives no assurance that the proposed offering can be completed on any terms.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements.  Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the Tribe's actual results, performance or achievements or industry results to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.  These statements are subject to a number of risks and uncertainties, many of which are beyond the control of the Tribe.  The words "believes," "may," "will," "should," "would," "could," "continue," "seeks," "anticipates," "plans," "expects," "intends," "estimates" or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.  Any forward-looking statements included in this press release are made only as of the date of this release. The Tribe does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Tribe cannot assure you that projected results or events will be achieved.

SOURCE Seminole Tribe of Florida