MGM Resorts said it plans to raise $500 million through an issue of senior notes to raise funds for general corporate purposes.
The notes are due 2025, it said in a Securities and Exchange Commission filing.
MGM said the notes may be used to refinance existing debt, the pay dividends, or to buy back stock. Pending use, the company may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments.
Citigroup Global Markets Inc., BofA Merrill Lynch, Barclays Capital Inc., BNP Paribas Securities Corp., Fifth Third Securities, Inc. and SMBC Nikko Securities America, Inc. will act as joint book-running managers.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264