MGM Resorts to sell $500 million in notes to pay down debt

MGM Resorts International wants to sell $500 million of notes due in 2016 in a private placement.

In brief statement Monday, the company said the proceeds would be used to pay off a portion of $1.2 billion in debt the company owes under its senor credit facility.

MGM Resorts has about $13 billion in long-term debt and company executives have said bringing down the figure is primary concern of management.

The offering follows MGM Resorts' $845 million notes sale in March. The company said it will also use $511 million raised last week in a sale of common stock to repay debt.

Contact reporter Howard Stutz at or 702-477-3871.


Comment section guidelines

The below comment section contains thoughts and opinions from users that in no way represent the views of the Las Vegas Review-Journal. This public platform is intended to provide a forum for users of to share ideas, express thoughtful opinions and carry the conversation beyond the article. Users must follow the guidelines under our Commenting Policy and are encouraged to use the moderation tools to help maintain civility and keep discussions on topic.

View Comments