PARADISE ISLAND, The Bahamas, July 24 /PRNewswire/ -- Sun International
Hotels Limited (NYSE: SIH) (the Company) and its wholly owned subsidiary Sun
International North America, Inc. today announced that they had received the
requisite consents pursuant to the solicitation of consents from the holders
of their 8.625% Senior Subordinated Notes due 2007 and their 9.000% Senior
Subordinated Notes due 2007. The companies, which co-issued the notes, were
seeking consents to proposed amendments of certain provisions of the
indentures pursuant to which the 8.625% Notes and the 9.000% Notes were
issued.
The Company received on Monday, July 23, 2001, the requisite consents to
the proposed amendments described in the Consent Solicitation Statement dated
July 10, 2001 (the Consent Solicitation Statement), as amended and
supplemented by the Supplement to the Consent Solicitation Statement dated
July 20, 2001 (the Supplement). Accordingly, the Company and the trustee
under the indentures have executed and delivered supplemental indentures
containing the amendments described in the Consent Solicitation Statement and
the Supplement. As described in the Consent Solicitation Statement and the
Supplement, the Company will make a consent payment to each holder with
respect to which a consent was received prior to the expiration time. The
consent payments will be made as soon as practicable following the expiration
time.
Bear, Stearns & Co. Inc. and Deutsche Banc Alex. Brown are acting as the
Solicitation Agents for the consent solicitation. Questions concerning the
consent solicitation may be directed to Bear, Stearns & Co. Inc., Global
Liability Management Group, at 877.696.2327 (toll free) and 212.272.5112.
Sun International Hotels Limited is an international resort and gaming
company that develops, operates or manages premier resorts and casino
properties. The Company currently operates or manages resort hotels and/or
casinos in The Bahamas, Indian Ocean and Dubai. In addition, the Company
earns income based on the gross revenues of the Mohegan Sun, operated by an
unaffiliated entity in Connecticut. The Company's flagship property is
Atlantis, Paradise Island, a 2,317-room resort and casino located on Paradise
Island in The Bahamas.
Inquiries should be directed to Charles D. Adamo, Executive Vice
President--Corporate Development & General Counsel of Sun International Hotels
Limited, at 242.363.6017. For other information you can also visit the Web
site at www.sunint.com.
SOURCE Sun International Hotels Limited
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