News: Ungaretti & Harris Co-Counsels Jefferies & Company in Casino and Horse Racing Facility Financing

Chicago, December 17, 2007 – Ungaretti & Harris recently served as co-counsel to Jefferies & Company in its roles as provider and arranger of financing to Indianapolis casino and horse racing facility Indiana Downs.

Jefferies & Company served as lender of a $100 million bridge loan and arranger and sole book-running manager for the sale of $375 million of senior secured notes and $50 million of senior subordinated secured pay-in-kind notes. The financing was arranged as a Rule 144A offering and required the preparation of an extensive offering circular in form as required by the SEC.

Gary I. Levenstein, Senior Partner and Corporate, Securities and Finance Department Chair, and Corporate Partner Michael J. Black represented Jefferies & Company.

With capital secured, Indiana Downs can transform its existing facility into a "racino," a combined race track and casino. The new facility will have at least 2,000 slot machines and several branded dining and entertainment options.

Jefferies & Company, a global investment bank and institutional securities firm, provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management.