New Issue: MGM Mirage prices $300 million add-on to 5 7/8% notes due 2014 at 99.069

By Paul A. Harris

St. Louis, March 9 - MGM Mirage priced a $300 million add-on to its 5 7/8% senior notes due Feb. 27, 2014 (Ba1/BB+) Tuesday at 99.069 to yield 6%, market sources said.

Deutsche Bank Securities, Citigroup and Banc of America Securities were joint bookrunners on the Rule 144A issue. The co-managers were JP Morgan, Wells Fargo Capital, RBC, Commerz, Scotia Capital, Barclays Capital, SG Cowen, Wachovia Securities, Bear Stearns & Co. and Morgan Stanley.

Proceeds will be used to repay the company's revolving credit facility and for general corporate purposes.

The issuer is a Las Vegas-based casino operator.

The original $225 million issue priced on Feb. 20, 2004.

Issuer:	MGM Mirage
Amount:	$300 million
Maturity:	Feb. 27, 2014
Security description:	Add-on to 5 7/8% senior notes due Feb. 27, 2014
Bookrunners:	Deutsche Bank Securities, Citigroup, Banc of America Securities
Co-managers:	JP Morgan, Wells Fargo Capital, RBC, Commerz, Scotia Capital, Barclays Capital, SG Cowen, Wachovia Securities, Bear Stearns & Co., Morgan Stanley
Coupon:	5 7/8%
Price:	99.069
Yield:	6%
Spread:	228 basis points
Call features:	Non-callable
Pricing date:	March 9
Settlement date:	March 23, with accrued interest
Ratings:	Moody's: Ba1
	Standard & Poor's: BB+

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