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%.

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