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MGM Resorts plans $100 million tap of 6% notes due 2023 on Monday
By Paul A. Harris
Portland, Ore., Nov. 24 – MGM Resorts International plans to price a $100 million add-on to its non-callable 6% senior notes due March 15, 2023 on Monday, according to an informed source.
Books were scheduled to close mid-morning on Monday.
BofA Merrill Lynch is the bookrunner for the public offering.
The Las Vegas-based hospitality company plans to use the proceeds for general corporate purposes, including repaying some debt maturing in 2015 and funding a portion of the development costs related to its Maryland and Massachusetts resort projects.
The original $1.15 billion issue priced at par on Thursday.
The add-on notes will become immediately fungible with the original notes.
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