Macau casino operator MGM China Holdings Ltd is increasing the size of an offering of debt and has priced the two tranches of different tenors.
MGM Resorts International of the United States, the parent company of MGM China, issued on Wednesday a written statement saying the subsidiary has increased the amount of its offering of senior notes, to be placed privately, to US$1.5 billion from the US$1.25 billion announced last week.
The statement said one tranche will consist of US$750 million of 5.375 percent senior notes due 2024, priced at par, and the other will consist of US$750 million of 5.875 percent senior notes due 2026, also priced at par. The offering is due to close on May 16.
MGM China Holdings intends to use the net proceeds to repay amounts borrowed under its revolving credit facility and term loan facility, the parent company stated.
MGM Resorts has said its priorities are its debt and corporate restructuring programme, and opportunities in Japan.
Oct 18, 2021Some business travellers and certain professional experts wishing to visit Cambodia, will now have to complete only a three-day quarantine on arrival, instead of 14 days, provided they are...
"In light of the ongoing Covid-19 disruption and continued travel restrictions across Asia Pacific, G2E Asia has shifted its focus to 2022 to ensure we meet the show’s high expectations, which we share with our valued exhibitors and attendees”
Project director at Reed Exhibitions, one of the organisers of the G2E Asia trade event