Gambling in Macau

Brighter prospects tempt MGM China to sell $1.25b bonds

MGM China, which operates casinos in Macau, will issue two US dollar notes totaling $1.25 billion.
MGM Cotai, one of MGM China's casino resorts in Macau
MGM Cotai, one of MGM China's casino resorts in Macau

MGM China Holdings plans to issue $1.25 billion two-part US dollar senior notes amidst brightening prospects for itself and Macau, where it owns two casino resorts.

On May 16, the Hong Kong-listed firm plans to sell 5-year paper that is not callable for 2 years, and 7-year bonds which are not callable for 3 years, according to a term sheet seen by FinanceAsia. The Regulation S and Rule 144A senior fixed-rate notes might price as early as the US morning of May 8.

Price guidance for the two tranches are 5.5% to 5.75% and 6.0% to 6.25% respectively.

The bonds...

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