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MGM Growth talks $1.84 billion loan repricing at Libor plus 250 bps
By Paul A. Harris
Portland, Ore., Oct. 17 – MGM Growth Properties Operating Partnership LP set talk in a repricing of $1,841,000,000 of its 6.5-year covenant-light term loan B paper with a 250 basis points spread to Libor at par, a trader said.
BofA Merrill Lynch is the lead on the deal.
As previously reported, the loan came in April, sized at $1.85 billion, at 99.75 with a spread over Libor of 325 bps after having been talked as high as 425 bps to 450 bps.
MGM Growth Properties is a Las Vegas-based real estate investment trust engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts.
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