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image: ap photo / vincent yu

J.P. Morgan Arranges $2.5B Facility for MGM

July 12, 2018

MGM closed a $2.5 billion credit facility comprising a five-year $1.7 billion revolving credit facility. a new $400 million seven-year term loan and a $400 million eight-year term loan.

J.P. Morgan served as arranger for the lender syndicate.

Concurrently, the company repaid an $850 million loan.

“The speed of execution, enhanced terms and improvements to the structure of our credit facility are reflective of MGM’s solid financial position and excellent relationships with the financial community,” said CFO Kenneth Kay.

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