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twitterCompany pays off debt
Tuesday, Jan. 11, 2005 | 10:58 a.m.
MGM Mirage has called all of its outstanding 6.875 percent senior collateralized notes due Feb. 6, 2008, for redemption. At current interest rates, the company expects to record a loss of about $20 million on the retirement of the notes in the first quarter.
In a statement today, the company said it expects to use its cash on hand and existing bank debt to fund the redemption.
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