MGM MIRAGE Announces Common Stock Offering
13 Maio 2009 - 6:55AM
PR Newswire (US)
LAS VEGAS, May 13 /PRNewswire-FirstCall/ -- MGM MIRAGE (NYSE:MGM)
announced today that it has commenced an underwritten public
offering of 81.0 million shares of its common stock. It is expected
that the offering will have gross proceeds of approximately $1
billion. Merrill Lynch & Co., Deutsche Bank Securities, J.P.
Morgan, Morgan Stanley and UBS Investment Bank are acting as joint
book-running managers for the offering. The underwriters for the
offering will have a 30-day option to purchase up to an additional
12.15 million shares of common stock from the Company to cover
over-allotments, if any. Tracinda Corporation, the holder of
approximately 53.8% of the Company's common stock has indicated
that it intends to purchase from the underwriter approximately 8.1
million of the shares sold in the offering. The Company plans to
use the net proceeds from the offering, together with the net
proceeds of a concurrent offering of senior secured notes, to (i)
repay not less than $750 million of the outstanding amount under
its senior credit facility, (ii) redeem all of the 7.25% senior
debentures due 2017 of Mirage Resorts, Incorporated, (iii) purchase
all of the Company's 6.0% senior notes due 2009 and all of the
6.50% senior notes due 2009 of Mandalay Resort Group tendered in
pending tender offers, and (iv) for general corporate purposes.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any offer, solicitation or sale of the shares of common stock in
any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state. A registration statement
relating to these securities has been filed with the Securities and
Exchange Commission and is effective. A written prospectus and
prospectus supplement relating to the common stock being offered
may be obtained from Merrill Lynch & Co., 4 World Financial
Center, New York, NY Attn: Prospectus Department (phone
212-449-1000), Deutsche Bank Securities, Attention: Prospectus
Department, 100 Plaza One, Jersey City, New Jersey 07311,
Telephone: (800) 503-4611, J.P. Morgan, 4 Chase Metrotech Center,
CS Level, Brooklyn, NY 11245, Attention: Prospectus Department,
718-242-8002, Morgan Stanley, Attention Prospectus Department, 180
Varick Street, New York, NY 10014, email: or UBS Investment Bank,
Attention: Prospectus Department, 299 Park Avenue, New York, NY
10171, telephone +1 (888) 827-7275. You may also get these
documents for free by visiting the SEC website at
http://www.sec.gov/. Before you invest, you should read the
prospectus and the prospectus supplement, the registration
statement and other documents that the Company has filed with the
Securities and Exchange Commission for more complete information
about the Company and this offering. MGM MIRAGE (NYSE:MGM), one of
the world's leading and most respected companies with significant
holdings in gaming, hospitality and entertainment, owns and
operates 16 properties located in Nevada, Mississippi and Michigan,
and has 50% investments in four other properties in Nevada, New
Jersey, Illinois and Macau. CityCenter, an unprecedented urban
metropolis on the Las Vegas Strip scheduled to open in late 2009,
is a joint venture between MGM MIRAGE and Infinity World
Development Corp, a subsidiary of Dubai World. MGM MIRAGE
Hospitality has entered into management agreements for future
casino and non-casino resorts in the People's Republic of China,
Abu Dhabi, U.A.E. and Vietnam MGM MIRAGE supports responsible
gaming and has implemented the American Gaming Association's Code
of Conduct for Responsible Gaming at its properties. MGM MIRAGE has
received numerous awards and recognitions for its industry-leading
Diversity Initiative and its community philanthropy programs.
Statements in this release which are not historical facts are
"forward looking" statements and "safe harbor statements" under the
Private Securities Litigation Reform Act of 1995 that involve risks
and/or uncertainties, including risks and/or uncertainties as
described in the company's public filings with the Securities and
Exchange Commission. Contacts: Investment Community News Media DAN
D'ARRIGO ALAN M. FELDMAN Executive Vice President & Senior Vice
President Chief Financial Officer Public Affairs (702) 693-8895
(702) 650-6947 DATASOURCE: MGM MIRAGE CONTACT: Dan D'Arrigo,
Executive Vice President and Chief Financial Officer,
+1-702-693-8895, both of MGM MIRAGE, or Alan M. Feldman, Senior
Vice President, Public Affairs, +1-702-650-6947, Company News
On-Call: http://www.prnewswire.com/comp/000725.html
Copyright
MGM Resorts (NYSE:MGM)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
MGM Resorts (NYSE:MGM)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024