MGM Resorts Prices $850 Mln Senior Notes Due 2029

(RTTNews) - MGM Resorts International (MGM) Tuesday announced that it has priced a public offering of $850 million senior notes due 2029 at par.

The offering of notes was upsized from the originally announced aggregate principal amount of $675 million. The transaction is expected to close on September 17, 2024.

The company intends to use the net proceeds from the offering of the notes to repay indebtedness, including its outstanding 5.750% senior notes due 2025, and pay transaction-related fees and expenses, with the remainder for general corporate purposes. The company also might invest the proceeds in short-term interest-bearing accounts, securities or similar investments.