The company said its consolidated subsidiary, MGM China Holdings Limited, issued $500 million in aggregate principal amount of 7.125% senior notes due 2031 on June 26, 2024. The notes were sold in the United States only to accredited investors.

1. 01

   The company said its consolidated subsidiary, MGM China Holdings Limited, issued $500 million in aggregate principal amount of 7.125% senior notes due 2031 on June 26, 2024. The notes were sold in the United States only to accredited investors.

2. 02

   The company said the issuing subsidiary plans to use approximately $493.1 million of net proceeds to repay amounts outstanding under its revolving credit facility.

3. 03

   The company said the notes bear interest at 7.125% per year, payable in cash on June 26 and December 26 of each year, beginning on December 26, 2024.

4. 04

   The company said that before June 26, 2027, the issuing subsidiary may redeem the notes at 100% of principal plus a make-whole premium, and may redeem up to 35% with net cash proceeds from certain equity offerings. It said it is required to offer to repurchase the notes at 101% upon a change of control triggering event and at 100% upon an investor put option triggering event related to gaming operations in Macau.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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