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MGM China Holdings ( (HK:2282) ) has provided an announcement.
MGM China Holdings has entered into a purchase agreement to issue US$750 million of 6.250% senior notes due May 15, 2033, with Deutsche Bank AG, Singapore Branch and J.P. Morgan Securities (Asia Pacific) Limited acting as representatives of the initial purchasers. The notes are intended to be listed in Hong Kong for professional investors, with proceeds of about US$739.9 million earmarked mainly to repay amounts under the company’s revolving credit facility and for general corporate purposes.
The transaction, which remains subject to conditions precedent and may be terminated under certain circumstances, is designed to optimize MGM China’s capital structure by shifting part of its bank borrowings into longer-dated bond financing. The company will retain the flexibility to reborrow under its revolving credit facility, while shareholders and investors are cautioned that completion of the notes issuance is not assured, reflecting standard market and regulatory uncertainties around such offerings.
The most recent analyst rating on (HK:2282) stock is a Hold with a HK$13.20 price target. To see the full list of analyst forecasts on MGM China Holdings stock, see the HK:2282 Stock Forecast page.
More about MGM China Holdings
MGM China Holdings Limited is a Macau-based casino and hospitality operator focusing on integrated resort developments. The company derives its revenue primarily from gaming, hotel, and entertainment services aimed at tourists and high-end patrons in the Macau market, and is listed in Hong Kong for both equity and debt securities.
Average Trading Volume: 5,802,419
Technical Sentiment Signal: Hold
Current Market Cap: HK$42.71B
Find detailed analytics on 2282 stock on TipRanks’ Stock Analysis page.