MGM Resorts International says it has successfully completed the issuance of US$750 million in aggregate principal amount of 6.750% senior notes due 2025.
The notes were announced in late April as a means of further increasing the company’s liquidity position in the face of COVID-19, with MGM stating the proceeds would be used for general corporate purposes and may be invested in short-term interest-bearing accounts, securities or similar investments.
“The proceeds from this offering have further enhanced our already strong liquidity position to provide us with additional resources as we continue to navigate the impact of the COVID-19 pandemic on our business,’ said MGM’s CFO and Treasurer, Corey Sanders.
“We are pleased with the successful execution of this transaction and the support from our investors, which allowed us to upsize the deal at an attractive rate and further solidify our balance sheet.”
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