Loan & DebtMay 14, 2026, 04:24 PM
MGM China Issues $750M in 6.25% Senior Notes Due 2033
AI Summary
MGM China Holdings Limited, a consolidated subsidiary of MGM Resorts International, issued $750 million in 6.25% senior notes due 2033. The net proceeds of approximately $739.9 million are intended to repay a portion of its revolving credit facility and for general corporate purposes. Interest will be paid semi-annually, and the notes include various redemption and repurchase provisions.
Key Highlights
- MGM China Holdings Limited issued $750 million in 6.25% senior notes due 2033.
- Net proceeds of approximately $739.9 million will repay a portion of its revolving credit facility and for general corporate purposes.
- Interest on the notes will be paid semi-annually on May 15 and November 15, starting November 15, 2026.
- The Issuer may redeem notes prior to May 15, 2029, with a make-whole premium or up to 35% from equity offerings.
- On or after May 15, 2029, notes can be redeemed at a declining premium.
- The Issuer must offer to repurchase notes upon a change of control or a special put option triggering event.