MGM Resorts International
MGM China Holdings Issued $500 Million in Senior Notes
Summary
On June 26, 2024, MGM China Holdings Limited, a subsidiary of MGM Resorts International, issued $500 million in aggregate principal amount of 7.125% senior notes due 2031. The notes were issued under an indenture dated as of June 26, 2024, between MGM China Holdings Limited and Wilmington Savings Fund Society, FSB, as trustee. The Issuer intends to use the net proceeds from the offering to repay amounts outstanding under its revolving credit facility. The notes will pay interest semi-annually and contain provisions for redemption and repurchase under certain conditions. The Indenture also includes financial covenants and events of default.
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About MGM Resorts International
MGM Resorts International operates as a global hospitality and entertainment company, known for its luxury accommodations, high-profile casino resorts, and vibrant live entertainment options. The company's primary function revolves around offering unparalleled leisure experiences through its integrated resort offerings, which include numerous world-renowned properties such as the Bellagio, MGM Grand, and Mandalay Bay located in Las Vegas. MGM Resorts International also extends its influence beyond gaming and hospitality with ventures into gastronomy, retail, and convention services, thereby impacting sectors like tourism, real estate, and gastronomy. The firm plays a significant role in the leisure and hospitality industry, both within the United States and internationally, with properties in Asia and plans for future developments. MGM Resorts is crucial for the economy of entertainment hubs, contributing to employment and regional economic activity. As a prominent player in the gaming and resort space, it continuously adapts to industry trends, such as leveraging digital solutions and expanding online gaming platforms, further cementing its standing in the dynamic landscape of global hospitality.
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