MGM MIRAGE Prices $475 Million in Senior Unsecured Notes
18 Setembro 2009 - 10:00AM
PR Newswire (US)
LAS VEGAS, Sept. 18 /PRNewswire-FirstCall/ -- MGM MIRAGE (NYSE:MGM)
announced today that, on September 17, 2009, it priced a private
offering of $475 million principal amount of 11.375% Senior Notes
due 2018 at a price of 97.396%. The transaction is expected to
close on September 22, 2009. The net proceeds of the offering will
be used to reduce the outstanding borrowings under the Company's
senior credit facility and for general corporate purposes. The
notes will be general senior unsecured obligations of the Company,
guaranteed on an unsecured basis by substantially all of the
Company's subsidiaries, which also guarantee the Company's other
senior indebtedness, and equal in right of payment with, or senior
to, all existing or future indebtedness of the Company and each
guarantor. The notes have not been registered under the Securities
Act of 1933, as amended (the "Securities Act"), or any state
securities laws, and unless so registered, may not be offered or
sold within the United States or to, or for the account or benefit
of, U.S. persons except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act. This press release does not constitute an offer,
solicitation or sale in any jurisdiction in which such offering
would be unlawful. DATASOURCE: MGM MIRAGE CONTACT: investment
community, Dan D'Arrigo, Executive Vice President & Chief
Financial Officer, +1-702-693-8895, or news media, Alan M. Feldman,
Senior Vice President, Public Affairs, +1-702-650-6947
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