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.
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