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MGM Resorts Raises $750 Million Through Senior Notes Offering

Tuesday 26 de March 2024 / 12:00

⏱ 1 min read

(Las Vegas).- MGM Resorts International announced that it has priced a public offering of $750,000,000 in aggregate principal amount of 6.500% senior notes due 2032 at par. The transaction is expected to close on April 9, 2024, subject to customary closing conditions.

MGM Resorts Raises $750 Million Through Senior Notes Offering

The company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 6.750% senior notes due 2025. Pending such use, the firm may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments.

The notes being offered will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company's wholly owned domestic subsidiaries that guarantee the Company's other senior indebtedness, and equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.

Deutsche Bank Securities Inc., BofA Securities, Inc., Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Citizens JMP Securities, LLC, Fifth Third Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., and Truist Securities, Inc. will act as joint book-running managers and Goldman Sachs & Co. LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC will act as co-managers for the proposed offering.

Categoría:Others

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País: United States

Región: North America

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