MGM Resorts said its indirect majority-owned subsidiary, MGM China Holdings Limited, entered into an unsecured revolving credit facility of HK$23.4 billion with certain lenders on April 15, 2025.

1. 01

   MGM Resorts said its indirect majority-owned subsidiary, MGM China Holdings Limited, entered into an unsecured revolving credit facility of HK$23.4 billion with certain lenders on April 15, 2025.

2. 02

   The company said the facility bears interest at a floating rate based on HIBOR plus a margin of 1.625% to 2.75%, set by MGM China's leverage ratio. It has a maturity of 60 months (as defined in the agreement) from the agreement date.

3. 03

   The company said proceeds will be used to refinance MGM China's existing senior unsecured credit facilities, for working capital and general corporate purposes. The existing facilities will be repaid in full and their total commitments canceled in full as of April 22, 2025, the first utilization date.

4. 04

   The company said MGM China must maintain a maximum consolidated total leverage ratio and a minimum interest coverage ratio. It said the facility must be prepaid in full if MGM Resorts International ceases to own more than 50% of MGM China's issued ordinary share capital.

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