MGM Resorts Plans $500 Mln Senior Notes Offering

(RTTNews) - MGM Resorts International (MGM) said Monday that it proposes to offer $500 million in aggregate principal amount of senior unsecured notes due March 31, 2020.

The company said it plans to use the net proceeds of the offering for general corporate purposes, which may include repaying a portion of its outstanding 5.875% senior notes due February 2014 at maturity.

Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc. and J.P. Morgan Securities LLC will act as joint book-running managers for the proposed offering.