MGM China Eyes Bond Offering to Repay Debt

Through an international bond offering for qualified investors, MGM China hopes to raise money. Most of the revenue will go toward paying down a chunk of the company’s existing revolving credit line. Terms and the precise amount are still up in the air.

This move comes after MGM China reported a record-breaking US$301 million quarterly profit. Once it repays a portion of its debt using bond proceeds, the company claims it will be able to borrow money again under the credit facility.

Notably, in reaction to Macau’s strong casino sector rebound, MGM China had already canceled a $750 million loan from its parent company.

Original Story by: Inside Asian Gaming