CityCenter seeks amendment and restatement of loan to extend maturity

By Sara Rosenberg

New York, Jan. 10 - CityCenter Holdings LLC is looking to amend and restate its credit facility, resulting in, among other things, the extension of the maturity for four years, according to a market source.

The amendment and restatement is being done club style with some banks, the source said. There was no bank meeting or lender call for the deal.

Bank of America is the left lead bank on the deal. Other banks involved include UBS Securities LLC, BNP Paribas Securities Corp. and RBS Securities Inc.

Also, the company announced on Monday that it plans on repaying a portion of its credit facility debt using proceeds from a $1.1 billion second-lien notes offering.

CityCenter, a joint venture between MGM Resorts International and Dubai World, is a mixed-use development, built on 76 acres along the Las Vegas Strip between the Bellagio and Monte Carlo resorts.

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