MGM China joins the trend of casinos seeking unsecured loans to take out old borrowings

By Pan Yue
15 Aug 2019

Macau casino operator MGM China has raised its first unsecured borrowing, joining a handful of companies raising straight loans to replace outstanding secured facilities. Bankers think that plenty more casinos will take a punt on the format. Pan Yue reports.

MGM China sealed a HK$9.75bn ($1bn) five year unsecured revolving credit facility on Tuesday, a deal which will be used to repay its old secured borrowings.

The old loan, taken out by MGM China and MGM Grand Paradise, was first sealed in 2012 with an initial size of ...

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