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MGM Resorts units price $1.05B notes offering

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MGM Resorts units price $1.05B notes offering

MGM Resorts Internationalsaid April 6 that its indirect wholly owned subsidiaries, MGP Escrow Issuer LLCand MGP Escrow Co-Issuer Inc., priced $1.05 billion in aggregate principal amountof 5.625% senior notesdue 2024 in a private placement at par.

The notes are being offered in connection with the formationof the company's REITsubsidiary, MGM Growth Properties.Following the formation, MGM Escrow will be merged with and into MGM Growth PropertiesOperating Partnership LP.

The offering is expected to close April 20, subject to customaryclosing conditions.

The net proceeds of the notes offering, as well as proceeds fromother financings to bemade in connection with MGM Growth's formation transactions, will be used to refinanceindebtedness assumed by the operating partnership from MGM Growth and to pay relatedfees and expenses.