Resorts World buys US$18m of MGM’s secured notes (9% Coupon Rate & due in 2020)

Resorts World buys US$18m of MGM’s secured notes

Published: 2010/03/18

GENTING Malaysia Bhd’s wholly-owned unit Resorts World Ltd has subscribed to US$18 million (US$1 = RM3.30) of MGM Mirage Inc’s (MGM) 9 per cent senior secured notes that are due in 2020. 

In its filing to the stock exchange yesterday, Genting said the notes were part of MGM’s fund raising effort totalling US$845 million to repay debt.

The 9 per cent coupon rate generates better return than what is now attainable in the money markets or in other secured investments regionally.


http://www.btimes.com.my/Current_News/BTIMES/articles/20100318005103/Article/index_html