Jamul Indian Village Development Corporation

Overview

Deal Type Debt Capital Markets
Size $515 Million
Senior Secured Credit Facilities
Client & Transactional Partners Jamul Indian Village Development Corporation
Our Role Left Lead Arranger
Joint Bookrunner
Administrative Agent

Summary

On March 29, 2023, KeyBanc Capital Markets Inc. (KBCM) successfully closed the syndication of $515 million of Senior Secured Credit Facilities (the Credit Facilities) for Jamul Indian Village Development Corporation, a wholly owned enterprise of the Jamul Indian Village of California (the Tribe).

The Credit Facilities consist of a $5.0 million Revolving Credit Facility, a $320 million Term Loan and a $190 million Delayed Draw Term Loan. Proceeds from the Credit Facilities will be used to refinance existing debt, fund hotel construction, and pay transaction-related fees and expenses.

About the Tribe:
The Tribe, formally recognized in 1981 as a sovereign Indian nation by the United States Government, is one of the 13 bands of the Kumeyaay Nation and has approximately 75 enrolled members. The Tribe, through JIDVC, owns and operates the Jamul Casino.

About Jamul Casino:
Opened in 2016, the Jamul Casino is in Jamul, California, San Diego County, and is owned and operated by Jamul Indian Village Development Corporation. The $430.0 million, award-winning casino features nearly 1,700 slot machines, 46 live table games, a dedicated poker room, and various restaurants, bars and lounges. JIVDC is also in the process of adding to its property by developing a new 4-diamond hotel, featuring 200 rooms, a rooftop pool and jacuzzi, spa and fitness center, restaurant and lobby bar, and a banquet room.

Recent Deals

March 2025

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$1 Billion

Convertible Senior Notes due 2030

Co-Manager

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acquired

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Senior Secured Credit Facilities

Sole Lead Arranger
Administrative Agent

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a portfolio company of

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$625 Million

Senior Secured Credit Facilities

Joint Lead Arranger
Joint Bookrunner

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March 2025

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has received an entity-level preferred equity investment from

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Sole Placement Agent

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