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California tribe pays sky-high yield on casino bond

Davide Scigliuzzo March 07, 2018
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NEW YORK, March 7 (IFR) - A Native American tribe in California has agreed to pay one of the highest interest rates ever seen on a junk bond since the financial crash to finance a long-delayed casino development.

The Buena Vista Rancheria of Me-Wuk Indians of California, which has been planning to build a casino in Amador County for over a decade, finally sold a US$205m five-year bond to finance the project on Tuesday.

Complete article: California tribe pays sky-high yield on casino bond