MGM Resorts International announces pricing of senior notes offering by MGM China

(PRESS RELEASE) -- MGM Resorts International today announced that MGM China Holdings Limited, a consolidated subsidiary of the company, priced an upsized offering of $750 million in aggregate principal amount of 5.375% senior notes due 2024 and $750 million in aggregate principal amount of 5.875% senior notes due 2026 in a private placement, in each case, at par. The offering of the notes was upsized to an aggregate principal amount of $1.5 billion from the originally announced aggregate principal amount of $1.25 billion, in each case, across the two tranches of notes. The Issuer intends to use the net proceeds from the offering of the notes to repay amounts under its revolving credit facility and term loan facility. The offering is expected to close on 16 May 2019, subject to customary closing conditions.

The notes proposed to be offered will not be and have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to any U.S. persons absent registration under the Securities Act, or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes will be offered only to "qualified institutional buyers" under Rule 144A of the Securities Act or, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act.