MGM Macau completes HK$7.41 billion senior secured credit facility

By Sara Rosenberg

New York, Aug. 2 - MGM Macau closed on a new HK$7.41 billion senior secured credit facility, according to a news release.

Bank of America, Bank of China, Industrial and Commercial Bank of China, Banco Nacional Ultramarino, Credit Agricole Corporate and Investment Bank, BNP Paribas, Commerzbank and the Royal Bank of Scotland acted as the mandated lead arrangers on the deal.

Lead arrangers on the facility included Banco Comercial Portugues, JPMorgan, Morgan Stanley and Sumitomo Mitsui, while arrangers included Tai Fung Bank, Banco Comercial de Macau, the Bank of Nova Scotia and Deutsche Bank.

The facility consists of an HK$4.29 billion term loan and an HK$3.12 billion revolver, which mature in July 2015.

Proceeds were used to refinance an existing credit facility and will provide additional liquidity.

MGM Macau, a gaming/hotel property, is a 50/50 joint venture of MGM Resorts International and Ms. Pansy Ho.

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