MGM May Refinance Nearby Maturities: D’Arrigo
MGM Resorts International, the casino operator that issued expensive debt during the 2009 fiscal crisis to stave off bankruptcy, may look to refinance about $1.1 billion in bonds due in 2013 and 2014, said MGM CFO and treasurer Dan D’Arrigo. MGM wants to eventually reduce its debt to five times earnings. The ratio was 6.79 times on Dec. 31, according to analyst estimates compiled by Bloomberg.
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