MGM Mirage To Sell $350M In Unsecured Notes

Law360, New York (September 17, 2009, 3:09 PM EDT) -- MGM Mirage announced Thursday that it planned to make a private placement of $350 million in unsecured senior notes to reduce its debt under its senior credit facility and fund its general business operations.

The notes, which will become due 2018, will be guaranteed on an unsecured basis by MGM Mirage's subsidiaries, which also guarantee the company's senior debt, according to the company. The debt will have equal or senior payment rights to any future debt, MGM Mirage said.

As a private placement, the notes are...
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