Las Vegas NowMGM Mirage Amends Senior Notes Exchange Offer
Casino operator MGM Mirage says it has amended a senior notes exchange offer in part to extend its expiration date.
The Las Vegas-based company on Thursday pushed the expiration date as well as the early participation and withdrawal dates to Sept. 30. MGM Mirage had just extended the early participation date last week to Sept. 24 from Sept. 10. The initial expiration date was Sept. 24 as well.
Under the terms of the offer, eligible holders can exchange a portion of $782 million in 8.5 percent senior notes due 2010 for up to $500 million in 10 percent senior notes due 2016.
MGM Mirage says about $21 million of existing notes had been validly tendered as of Wednesday. If accepted, the notes would be exchanged for approximately $24.7 million new notes.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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