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MGM Resorts Completes $1.25 Billion Senior Notes Offering

Discussion in 'Casino Industry & Development' started by SH0CK, Nov 26, 2014.

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  1. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

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    So, for those financial types here on the board, does this mean that MGM has basically bought themselves 8 year to pay down their more debt?

     
  2. Kickin

    Kickin Flea

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    Sort of, it's partly a refinancing but it's not unusual at all. As long as your debt is manageable it's better to continue financing through debt instead of equity or even cash flow, especially at current tight spreads and assuming you are a growing company...which I guess in the casino space isn't a given for any operator.
     
  3. Callahan

    Callahan Tourist

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    I was under the impression that this was mostly to finance construction costs on their national harbor project.
     
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