CityCenter talks $1.7 billion term B at Libor plus 400 bps area

By Sara Rosenberg

New York, Oct. 3- CityCenter Holdings LLC is talking its $1.7 billion term loan B in the Libor plus 400 basis points area with a 1% Libor floor and an original issue discount of 99, according to market sources.

The loan has 101 soft call protection for six months, sources said.

The company's $1,775,000,000 senior secured credit facility (B3/B+) also includes a $75 million revolver.

Bank of America Merrill Lynch, Barclays, BNP Paribas Securities Corp., SMBC Nikko Capital Markets and UBS Investment Bank are the lead banks on the deal that launched on Tuesday.

Proceeds will be used to refinance existing debt.

CityCenter, a 50/50 joint venture between MGM Resorts International and Infinity World, is the owner and operator a mixed-use development located on the Las Vegas Strip.

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