{"id":38,"date":"2025-04-24T11:21:55","date_gmt":"2025-04-24T11:21:55","guid":{"rendered":"https:\/\/casinobeats.com\/nl\/?p=38"},"modified":"2025-04-24T15:03:06","modified_gmt":"2025-04-24T15:03:06","slug":"mgm-china-kondigt-herfinancieringsovereenkomst-voor-doorlopende-kredietfaciliteit-van-302-miljard-aan","status":"publish","type":"post","link":"https:\/\/casinobeats.com\/nl\/2025\/04\/24\/mgm-china-kondigt-herfinancieringsovereenkomst-voor-doorlopende-kredietfaciliteit-van-302-miljard-aan\/","title":{"rendered":"MGM China kondigt herfinancieringsovereenkomst aan"},"content":{"rendered":"\n

MGM China Holdings has announced a refinancing deal worth $3.02 billion with an unnamed group of lenders.<\/p>\n\n\n\n

In an official announcement<\/a>, MGM China said it would use the deal, a revolving credit facility, to refinance two existing revolving credit facilities and for \u201cgeneral corporate purposes.\u201d<\/p>\n\n\n\n

The new facility will take effect on April 22 and will mature in 60 months.<\/p>\n\n\n\n

However, the investors appear to have insisted that the US-based MGM Resorts International retains ownership of MGM China. A clause in the deal states that the investment must be repaid if the US firm\u2019s ownership of the Macau casino operator drops below 50%.<\/p>\n\n\n\n

MGM China: Details of Refinancing Deal<\/h2>\n\n\n\n

The deal comes after media reports in February claimed MGM China was looking to secure a $2 billion syndicated loan. Bloomberg quoted<\/a> unnamed sources close to the deal as stating that the casino operator was speaking to over a dozen banks about a five-year agreement.<\/p>\n\n\n\n

MGM China announced its first revolving credit facility, worth HKD 9.75 billion (around $1.25 billion), in August 2019.<\/p>\n\n\n\n

The firm later agreed to extensions on this deal, which would mature in May next year. It later agreed on a second revolving credit facility of HKD 2.34 billion ($301.74 million). MGM China later increased the size of this facility to $402 million. The maturity date was also set to May 2026.<\/p>\n\n\n\n

However, MGM China explained that the latest refinancing package will see the amounts due under the existing credit facilities repaid in full. \u201cTotal commitments thereof will be cancelled,\u201d it wrote.<\/p>\n\n\n\n

MGM China explained that the deal also includes an accordion option clause. This could potentially allow the borrower to increase its line of credit with its lenders.<\/p>\n\n\n\n

The firm wrote: \u201cThe 2025 revolving credit facility will bear interest at a fluctuating rate per annum based on the Hong Kong Interbank Offered Rate, plus a margin (in the range of 1.625% to 2.75%), which will be determined by MGM China\u2019s leverage ratio.\u201d<\/p>\n\n\n\n

MGM Resorts\u2019 Record-breaking Reports <\/h2>\n\n\n\n

MGM opened its first Macau casino resort, the 600-room MGM Macau, in December 2007. The doors to MGM China\u2019s second and largest venue, the MGM Cotai, opened in February 2018.<\/p>\n\n\n\n

MGM Resorts retains around 56% of the company\u2019s issued shares. The firm successfully launched an initial public offering on the Hong Kong Stock Exchange on June 3, 2011.<\/p>\n\n\n\n

Last year, MGM China\u2019s 14% year-on-year growth rates saw MGM Resorts post record net revenues for Q3 of FY2024<\/a>.<\/p>\n\n\n\n

This followed a record-breaking Q1<\/a> for MGM Resorts, with MGM China\u2019s post-COVID recovery again credited for much of the growth.<\/p>\n\n","protected":false},"excerpt":{"rendered":"

MGM China Holdings has announced a refinancing deal worth $3.02 billion with an unnamed group of lenders. In an official announcement, MGM China said it would use the deal, a revolving credit facility, to refinance two existing revolving credit facilities and for \u201cgeneral corporate purposes.\u201d The new facility will take effect on April 22 and […]<\/p>\n","protected":false},"author":223,"featured_media":39,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"yes","_lmt_disable":"","tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1,16],"tags":[],"class_list":["post-38","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-news"],"acf":[],"yoast_head":"\nMGM China kondigt herfinancieringsovereenkomst aan - CasinoBeats Netherlands<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/casinobeats.com\/nl\/2025\/04\/24\/mgm-china-kondigt-herfinancieringsovereenkomst-voor-doorlopende-kredietfaciliteit-van-302-miljard-aan\/\" \/>\n<meta property=\"og:locale\" content=\"nl_NL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM China kondigt herfinancieringsovereenkomst aan - 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