MGM MIRAGE Announces Tender Offer for Senior Notes Maturing in 2009
13 Maio 2009 - 7:05AM
PR Newswire (US)
LAS VEGAS, May 13 /PRNewswire-FirstCall/ -- MGM MIRAGE (the
"Company") today announced that it has commenced a cash tender
offer (the "Offer") to purchase any and all of the 6.50% Senior
Notes due July 31, 2009 ($226.3 million aggregate principal amount;
CUSIP No. 562567 AM9) of Mandalay Resort Group, and its 6.00%
senior notes due October 1, 2009 ($820.0 million aggregate
principal amount; CUSIP No. 552953 AF8) collectively (the "Notes").
The tender offer is being made pursuant to an Offer to Purchase and
a related Letter of Transmittal, dated as of May 13, 2009. The
Offer will expire at 11:59 p.m., New York City time, on June 10,
2009, unless extended or earlier terminated (the "Expiration
Date"). Holders who validly tender their Notes prior to 5:00 pm,
New York City time, on May 27, 2009, unless extended (the "Early
Participation Date"), shall receive the total consideration equal
to $1,000.00 per $1,000 principal amount of the Notes, which
includes an early tender premium of $30.00 per $1,000 principal
amount of the Notes, plus any accrued and unpaid interest on the
Notes up to, but not including, the payment date. Holders who
validly tender their Notes after the Early Participation Date but
on or prior to the Expiration Date shall receive the tender offer
consideration equal to $970.00 per $1,000 principal amount of the
Notes, plus any accrued and unpaid interest on the Notes up to, but
not including, the payment date for such Notes. Holders of Notes
tendered after the Early Participation Date will not receive an
early tender premium. The Offer is subject to customary conditions,
including, among other things, a financing condition. This press
release is neither an offer to purchase nor a solicitation of an
offer to sell the Notes. The Offer is being made pursuant to the
Offer to Purchase and related materials, copies of which will be
made available to all noteholders. Persons with questions regarding
the Offer should contact the Dealer Manager, Banc of America
Securities LLC, at (888) 292-0070 (toll free) or (980) 388-9217
(collect), or the Information Agent, Global Bondholder Services
Corporation at (866) 470-4200 or (212) 430-3774. 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. For more information about MGM
MIRAGE, please visit the company's website at
http://www.mgmmirage.com/. 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: Investment Community, Dan D'Arrigo, Executive Vice
President & Chief Financial Officer, +1-702-693-8895; News
Media, Alan M. Feldman, Senior Vice President, Public Affairs,
+1-702-650-6947 Web Site: http://www.mgmmirage.com/ Company News
On-Call: http://www.prnewswire.com/comp/000725.html
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