MGM Resorts International completes USD 1.25B senior notes offering
The Company plans to use the net proceeds from the offering for general corporate purposes, including repaying certain indebtedness maturing in 2015 and funding a portion of the development costs related to its Maryland and Massachusetts resort projects. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments.
“The success of this transaction is due to the continued support from the investment community, reflected in the increased demand, which allowed us to achieve rates at historically low levels,” said Dan D’Arrigo, Executive Vice President, CFO and Treasurer of MGM Resorts International. “We remain committed to maximizing our free cash flow by making strategic investments in our resort portfolio and opportunistically accessing the capital markets at attractive rates.”
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