MGM Resorts plans to pay down $965 million loan with notes proceeds

By Tali David

Minneapolis, March 15 - MGM Resorts International plans to use the proceeds of its senior note offering to repay a portion of the $965 million owed to term loan lenders, according to a press release.

The money will go to lenders who, as of March 14, did not agree to extend their commitments in connection with the amendment and extension transaction in February.

MGM also plans to use any additional proceeds to repay other debt under its senior credit facility or outstanding debt securities.

MGM Resorts is a Las Vegas-based owner and operator of casino resorts.

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