MGM Resorts International Announces Proposed Senior Notes Offering

MGM Resorts International MGM today announced that it proposes to offer $750 million in aggregate principal amount of senior notes due 2022.  BofA Merrill Lynch, Barclays Capital, J.P. Morgan and Wells Fargo Securities will act as joint-book running managers for the proposed offering. The Company plans to use the net proceeds to repay a portion of the $965 million owed to term loan lenders as of March 14, 2012 that did not agree to extend their commitments in connection with the amendment and extension transaction in February 2012, with any additional proceeds to be used to repay other indebtedness under the Company's senior credit facility or outstanding debt securities.