MGM China to Issue US$750 Million in Senior Notes for Debt Refinancing
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MGM China Holdings has announced a purchase agreement to issue US$750 million in 6.250% senior notes due May 15, 2033. The proceeds, approximately US$739.9 million, will primarily be used to repay amounts under the company's revolving credit facility and for general corporate purposes. The transaction aims to optimize MGM China's capital structure by converting part of its bank borrowings into longer-dated bond financing. The completion of the notes issuance is subject to market and regulatory uncertainties. The current analyst rating for MGM China stock is a Hold with a price target of HK$13.20.
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