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MGM Growth Properties reprices $1.8B term loan facility

Entertainment and leisure real estate investment trust MGM Growth Properties LLC repriced its operating partnership's $1.8 billion term loan B facility with a reduction of 25 basis points compared to the previous interest rate.

The facility now bears interest at the London Interbank Offered Rate plus 2.00% and includes the possibility of a two-year extension to March 23, 2025, subject to certain conditions.

The facility may be further reduced to LIBOR plus 1.75% in the event of a corporate ratings upgrade.