debt
confidence high
sentiment neutral
materiality 0.60
MGM China issues $750M 6.25% senior notes due 2033 to repay revolver
MGM Resorts International
- Issuer MGM China Holdings, a subsidiary of MGM Resorts, sold $750M of 6.25% senior notes due 2033.
- Net proceeds of approximately $739.9M to repay revolving credit facility and for general corporate purposes.
- Interest payable semi-annually on May 15 and Nov 15, starting Nov 15, 2026.
- Notes redeemable at make-whole premium prior to May 15, 2029; thereafter at declining premium to par.
- Change of control triggers repurchase at 101%; Special Put Option (Macau gaming status) at 100%.
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