MGM Prices $1.0B in Senior Notes

MGM Resorts International

today announced that it has priced $1.0 billion in aggregate principal amount of 6.75% senior notes due 2020 at par.  The transaction is expected to close on September 19, 2012. The Company plans to use the net proceeds to repay a portion of its indebtedness, which may include indebtedness under its senior credit facility or outstanding debt securities. The notes will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company's wholly owned domestic subsidiaries which guarantee the Company's other senior indebtedness, and equal in right of payment with, or senior to, all existing or future unsecured indebtedness of the Company and each guarantor.