Business: MGM Plans to Sell $2.5B in Stock, Bonds
May 16, 2009 :: Posted by - admin :: Category - Gambling News
MGM Mirage (MGM) revealed plans to sell $2.5 billion in stock and promissory notes with a portion of the revenues being employed to repurchase almost $1 billion in loans maturing in the next six months. The sales could ultimately extract the debt-ridden gaming operator from its severe debt while at the same time taking away the motivation for involuntary asset sales and distressed debt exchanges. read more
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Business: MGM Plans to Sell $2.5B in Stock, Bonds
Tags: asset-sales, being-employed, business, debt, entertainment, gaming-operator, loans-maturing, mgm, motivation, revealed-plans, revenues, severe-debt, the-debt-ridden, the-revenues, time-taking
