MGM Resorts Proposes $750 Mln Senior Notes Offering

(RTTNews) - MGM Resorts Intl. (MGM) announced on Monday the plan to issue $750 million in senior notes maturing in 2032.

The purpose of this proposed offering is to settle existing debts, which include the 6.750 percent senior notes due in 2025.

The Company may use the funds generated from this offering to invest in short-term interest-bearing accounts, securities, or similar ventures.

The notes available for purchase will represent general unsecured senior obligations of the Company, backed by all of its wholly-owned domestic subsidiaries that provide guarantees for the Company's other senior debts.

The company also stated that the notes will have equal priority in terms of payment with all current and future senior unsecured debts of the Company and each guarantor.