Market Commentary and Intraday News
MGM prices senior notes
245 days ago
(AP:LAS VEGAS) MGM Resorts International said Friday that it has priced $1billion in senior notes at 6.75 percent. They are due in 2020.
The company, based in Las Vegas, owns and operates casinos across the country.
MGM said it plans to use" the proceeds to repay some of its debt. The transaction is expected to close on Wednesday.
Fitch Ratings assigned a "B-" junk-grade status rating to the proposed notes. The rating outlook is stable. The rating agency said that upon the closing of this transaction, MGM should be able to address its maturities through all of 2013 and part of 2014.
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