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FINWIRES

MGM China Issues $750 Million Senior Bonds Due 2033

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-- MGM China (HKG:2282) agreed to issue $750 million of 6.250% senior unsecured notes due May 15, 2033, according to a Thursday Hong Kong bourse filing.

The notes were priced at 100% of the principal amount and are expected to be issued on May 13.

The casino operator expects net proceeds of about HK$5.80 billion, or $739.9 million, after deducting underwriting discounts and offering expenses.

It plans to use the proceeds to repay part of the amounts outstanding under its revolving credit facility and for general corporate purposes.

The notes will pay interest semi-annually at 6.250% and mature on May 15, 2033.

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