MGM Resorts International announces proposed private offering | TravelDailyNews International
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MGM Resorts International announces proposed private offering

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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.
LAS VEGAS - MGM Resorts International announced that it proposes to offer $700 million in aggregate principal amount of senior notes due 2020 in a private placement. 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.

The notes proposed to be offered will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), 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.
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