BASIS POINT-MGM Grand Macau sounds for HK$12 bln syndicated loan
HONG KONG, July 12 (Reuters Basis Point) - Gaming giant MGM Grand Macau is sounding for a HK$12bn (US$1.55bn) five-year syndicated loan for refinancing, sources said.
According to sources, the company will be meeting with banks next week when its US personnel arrive.
Thomson Reuters LPC data shows an existing US$950m five-year loan for MGM from August 2010 which paid a top-level all-in of around 499bp via a margin of 450bp over Libor.
Sixteen banks joined the 2010 financing as coordinating arrangers: Bank of China Macau, Industrial & Commercial Bank of China Macau, Banco Nacional Ultramarino, Bank of America Merrill Lynch, Credit Agricole CIB, Banco Comercial Portugues, BNP Paribas, Commerzbank , RBS, Tai Fung Bank, JP Morgan, Morgan Stanley, Sumitomo Mitsui Banking Corp, Banco Comercial de Macau, Bank of Nova Scotia and Deutsche Bank.