MGM China issues senior notes to pay down debt

MGM China Holdings has announced the issuance of $750 million in aggregate principal amount of 5.875 percent senior notes due 2026,  as well as an upsized offering of $750 million in aggregate principal amount of 5.375% senior notes due 2024.

According to a company filing, MGM said it expects to see net proceeds of around $1.48 billion from the notes offering, and intends to use the proceeds to repay part of the outstanding amount of a revolving credit facility and term loan facility under the MGM China Credit Facility.

The offering is expected to close on May 16, 2019, subject to customary closing conditions.

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts