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StumbleMGM MIRAGE to sell $500 million in notes
Thursday, Sept. 7, 2000 | 11:25 a.m.
MGM MIRAGE of Las Vegas is preparing to sell $500 million in 10-year senior notes, company officials confirmed.
Spokesman Alan Feldman said the notes will be used to refinance a portion of an outstanding $1.3 billion term loan.
Bloomberg News reported that the note offering will be underwritten by Morgan Stanley Dean Witter & Co. and Banc America Securities. The notes could be priced as early as next week.
MGM MIRAGE currently carries a "BBB-" debt rating from rating agency Standard & Poor's.
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