MGM China issues $500M of 7.125% senior notes due 2031; proceeds to repay revolver

MGM Resorts International

Issuer is MGM China Holdings Limited, a consolidated subsidiary of MGM Resorts.
$500M aggregate principal, 7.125% interest payable semi-annually, matures 2031.
Net proceeds of approximately $493.1M to repay amounts under revolving credit facility.
Notes have change-of-control put at 101% and special put option related to Macau gaming status.
Issuer may redeem at make-whole premium before June 2027, then at declining premium.

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