MGM Resorts International Announces Proposed Private Offering by CityCenter Holdings

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MGM Resorts International Announces Proposed Private Offering by CityCenter Holdings (United States)
	MGM Resorts International Announces Proposed Private Offering by CityCenter Holdings (United States)
Category: North America & West Indies / Carribean islands - United States This is a press release selected by our editorial committee and published online for free on 2011-01-11 MGM Resorts International (NYSE: MGM) today announced that CityCenter Holdings, LLC, a joint venture which is 50% owned by a wholly-owned subsidiary of the Company and 50% owned by Infinity World Development Corp. (a wholly owned subsidiary of Dubai World), proposes to offer $1.1 billion in aggregate principal amount of first and second lien notes in a private placement. CityCenter plans to use the net proceeds from the offering to reduce its obligations under its existing credit facility in connection with amending and restating the credit facility to, among other things, extend the maturity of the remaining loans for four years.