MGM Growth Properties to pay down revolver debt with note proceeds

By Angela McDaniels

Tacoma, Wash., Jan. 22 – MGM Growth Properties LLC subsidiaries MGM Growth Properties Operating Partnership LP and MGP Finance Co-Issuer, Inc. plan to use the proceeds of a note offering to repay revolving credit facility draws, according to a company news release.

The revolver draws were primarily related to payments for acquisitions completed in 2018 or expected to be completed in early 2019.

The issuers plan to offer $500 million principal amount of senior notes due 2027.

MGM Growth Properties is a Las Vegas-based real estate investment trust that acquires, owns and leases large-scale destination entertainment and leisure resorts.

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