LAS VEGAS, Nov. 18, 2019 /PRNewswire/ -- MGM Resorts
International (the "Company") (NYSE:MGM) today announced that it
will redeem for cash all of its outstanding $360,826,000 6.750% Senior Notes due 2020 (the
"6.750% Notes"), $267,476,000 5.250%
Senior Notes due 2020 (the "5.250% Notes") and $1,250,000,000 6.625% Senior Notes due 2021 (the
"6.625% Notes" and, together with the 6.750% Notes and the 5.250%
Notes, the "Notes") on December 18,
2019 (the "Redemption Date"), in each case, at a redemption
price equal to 100.00% of the aggregate principal amount thereof
plus a make-whole premium, to be calculated as set forth in each
notice of redemption delivered to noteholders for the applicable
series of Notes (each, a "Notice of Redemption"), plus accrued and
unpaid interest, if any, to the Redemption Date (the "Redemption
Price"). Following the redemption of the Notes, no Notes will
remain outstanding.
On or before December 18, 2019, the Notes should be
presented to U.S. Bank National Association, as paying agent
for the redemption, at the address set forth in each Notice of
Redemption for the applicable series of Notes. Each Notice of
Redemption is being sent to all registered holders of the
respective series of Notes on November 18, 2019. Interest on
the Notes will cease to accrue on and after the Redemption Date,
and the only remaining right of holders of the Notes is to receive
payment of the Redemption Price.
This press release is for informational purposes only and shall
not constitute a notice of redemption of the Notes or an offer to
purchase, or a solicitation of an offer to sell, any Notes or other
securities.
ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is an S&P 500® global
entertainment company with national and international
locations featuring best-in-class hotels and casinos,
state-of-the-art meetings and conference spaces, incredible live
and theatrical entertainment experiences, and an extensive array of
restaurant, nightlife and retail offerings. MGM Resorts creates
immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts
portfolio encompasses 30 unique hotel and destination gaming
offerings including some of the most recognizable resort brands in
the industry. Expanding throughout the U.S. and around the world,
the company recently acquired the operations of Empire City Casino
in New York and MGM Northfield
Park. In 2018, MGM Resorts opened MGM Springfield in Massachusetts, MGM COTAI in Macau, and the first Bellagio-branded hotel in
Shanghai. The 82,000 global
employees of MGM Resorts are proud of their company for being
recognized as one of FORTUNE® Magazine's World's Most Admired
Companies®. For more information visit us at
www.mgmresorts.com.
Statements in this release that are not historical facts are
"forward-looking" statements and "safe harbor statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and/or uncertainties, including those described
in the Company's public filings with the SEC. The Company has based
forward-looking statements on management's current expectations and
assumptions and not on historical facts. These forward-looking
statements involve a number of risks and uncertainties. Among the
important factors that could cause actual results to differ
materially from those indicated in such forward-looking statements
include effects of economic conditions and market conditions in the
markets in which the Company operates and competition with other
destination travel locations throughout the United States and the world, the design,
timing and costs of expansion projects, risks relating to
international operations, permits, licenses, financings, approvals
and other contingencies in connection with growth in new or
existing jurisdictions and additional risks and uncertainties
described in the Company's Form 10-K, Form 10-Q and Form 8-K
reports (including all amendments to those reports). In providing
forward-looking statements, the Company is not undertaking any duty
or obligation to update these statements publicly as a result of
new information, future events or otherwise, except as required by
law. If the Company updates one or more forward-looking statements,
no inference should be drawn that it will make additional
updates with respect to those other forward-looking
statements.
MGM RESORTS
CONTACTS:
|
|
Investment
Community
|
News Media
|
AARON
FISCHER
|
BRIAN
AHERN
|
Chief Strategy
Officer
|
Director of Media
Relations
|
(702) 693-8711 or
afischer@mgmresorts.com
|
media@mgmresorts.com
|
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SOURCE MGM Resorts International