MGM MIRAGE Announces Expiration of the Tender Offer for Senior Notes Maturing in 2009
11 Junho 2009 - 1:01PM
PR Newswire (US)
LAS VEGAS, June 11 /PRNewswire-FirstCall/ -- MGM MIRAGE (NYSE:MGM)
today announced the final results of the 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"). As of 11:59 p.m.,
New York City time, on June 10, 2009, which was the "Expiration
Date" for the Offer, the Company received valid tenders from
holders of $122.3 million in aggregate principal amount of the
6.50% senior notes (approximately 54% of the outstanding) and
$762.6 million in aggregate principal amount of the 6.00% senior
notes (approximately 93% of the outstanding). The Company expects
to settle any tendered Notes, which have not been previously
settled, today. This press release is neither an offer to purchase
nor a solicitation of an offer to sell the Notes. The Offer was
made pursuant to the Offer to Purchase and related materials, dated
as of May 13, 2009. 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.
DATASOURCE: MGM MIRAGE CONTACT: Investment Community, Dan D'Arrigo,
Executive Vice President & Chief Financial Officer,
+1-702-693-8895, or Media, Alan M. Feldman, Senior Vice President,
Public Affairs, +1-702-650-6947, both of MGM MIRAGE Web Site:
http://www.mgmmirage.com/ Company News On-Call:
http://www.prnewswire.com/comp/000725.html
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