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MGM Resorts Intl offers senior notes to enhance liquidity

MGM Resorts International on Monday announced it has completed its previously announced issuance of $750 million in aggregate principal amount of 6.75 percent senior notes due 2025. 

According to the operator, net proceeds from the offering will be used for general corporate purposes, and further increasing its liquidity position. MGM said it may invest the net proceeds in short term interest-bearing accounts, securities or similar investments. 

"The proceeds from this offering have further enhanced our already strong liquidity position to provide us with additional resources as we continue to navigate the impact of the COVID-19 pandemic on our business," said Corey Sanders, Chief Financial Officer and Treasurer of MGM Resorts International.

"We are pleased with the successful execution of this transaction and the support from our investors, which allowed us to upsize the deal at an attractive rate and further solidify our balance sheet."

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