MGM Mirage $225 million 10-year bullets price talk 5 7/8% area, to price Friday

By Paul A. Harris

St. Louis, Feb. 19 - Price talk is in the area of 5 7/8% on MGM Mirage's quick-to-market $225 million offering of 10-year senior notes (Ba1/BB+), a syndicate source said.

The deal is expected to price on Friday.

Merrill Lynch & Co., Banc of America Securities, Citigroup and Deutsche Bank Securities are joint bookrunners on the off-the-shelf offering.

The notes will be non-callable for life.

Proceeds will be used to repay bank debt and for general corporate purposes.

MGM Mirage is a Las Vegas-based entertainment, hotel and gaming company.

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