MGM MIRAGE Prices $750 Million in Senior Secured Notes
31 Outubro 2008 - 10:30AM
PR Newswire (US)
LAS VEGAS, Oct. 31 /PRNewswire-FirstCall/ -- MGM MIRAGE (NYSE:MGM)
announced today that it has priced a private offering of $750
million principal amount of 13% Senior Secured Notes due November
2013 at a price of 93.132%. The transaction is expected to close on
November 14, 2008. The notes will rank as general senior
obligations of MGM MIRAGE, will be guaranteed by substantially all
of MGM MIRAGE subsidiaries, and will have a first priority security
interest in the Company's New York -- New York Hotel & Casino.
The net proceeds will be used to reduce the outstanding borrowings
under the Company's existing revolving credit facility and for
general corporate purposes. 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 to sell or the solicitation of an offer to buy
any security and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offering would be unlawful.
MGM MIRAGE (NYSE:MGM), one of the world's leading and most
respected development companies with significant holdings in
gaming, hospitality and entertainment, owns and operates 17
properties located in Nevada, Mississippi and Michigan, and has 50%
investments in four other properties in Nevada, New Jersey,
Illinois and Macau. MGM MIRAGE is developing major casino and
non-casino resorts, separately and with partners in Las Vegas,
Atlantic City, the People's Republic of China and Abu Dhabi, U.A.E.
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, EVP & Chief
Financial Officer, +1-702-693-8895, or media, ALAN M. FELDMAN,
Senior Vice President of Public Affairs, +1-702-650-6947, , both of
MGM MIRAGE Web site: http://www.mgmmirage.com/
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