MGM Resorts International (MGM): debt financing — MGM China enters HK$23.4B revolving credit facility; refinances existing debt

MGM Resorts International

MGM China, majority-owned by MGM Resorts, signed a HK$23.4 billion unsecured revolving credit facility on April 15, 2025.
Interest rate is HIBOR plus a margin of 1.625%-2.75%, determined by MGM China's leverage ratio.
Proceeds will refinance existing senior unsecured facilities and fund working capital and general corporate purposes.
Facility matures 60 months from signing; requires compliance with maximum leverage and minimum interest coverage ratios.
Full prepayment required if MGM Resorts' ownership of MGM China falls below 50%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

MGM Resorts International incurred revolving credit of HK$23.4 billion with certain lenders party thereto at HIBOR plus a margin (in the range of 1.625% to 2.75%) maturing 60 Months after the Agreement Date.

Instrument: revolving credit
Principal: HK$23.4 billion
Counterparty: certain lenders party thereto
Rate: HIBOR plus a margin (in the range of 1.625% to 2.75%)
Maturity: 60 Months after the Agreement Date
Event: incurrence

Exact text from the filing

On April 15, 2025 (the "Agreement Date"), MGM China Holdings Limited ("MGM China"), an indirect majority-owned subsidiary of MGM Resorts International, entered into a HK$23.4 billion unsecured revolving credit facility with certain lenders party thereto (the "Revolving Credit Facility").

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Source: SEC EDGAR

accession 0000789570-25-000013

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