MGM Resorts to offer $500 million in senior debt

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MGM Resorts International said Thursday it proposes to offer $500 million in senior debt due 2028. The hotel and casino operator said it expects to use the proceeds from the offering for general corporate purposes and to refinance current debt. The company had $11.34 billion in long-term debt at of June 30, according to the latest quarterly filing. The stock, which rose 1.5% in premarket trading, has dropped 35.4% year to date through Wednesday, while the S&P 500 has gained 5.8%.
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