MGM MIRAGE Completes $1 Billion Public Equity Offering and $1.5 Billion Rule 144A Debt Offering; Launches Tender for Outstanding Notes
Date: 05/20/09Cahill represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated, UBS Securities LLC, ABN AMRO Incorporated, BNP Paribas Securities Corp., Daiwa Securities America Inc., Barclays Capital Inc., Citigroup Global Markets Inc. and Wachovia Capital Markets, LLC as underwriters in a registered public offering by MGM MIRAGE of 164,450,000 shares of its common stock at an aggregate public offering price of $1,001,000,000. Cahill also represented Banc of America Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., RBS Securities Inc., Wachovia Capital Markets, LLC, BNP Paribas Securities Corp., Daiwa Securities America Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated and UBS Securities LLC as initial purchasers in Rule 144A offerings of $650,000,000 10 3/8% Senior Secured Notes due 2014 and $850,000,000 11 1/8% Senior Secured Notes due 2017 by MGM Mirage. Cahill is also representing Banc of America Securities LLC as dealer manager in connection with MGM MIRAGE's tender offer for its outstanding 6% Senior Notes 2009 and the outstanding 6 1/2% Senior Notes due 2009 of its subsidiary, Mandalay Resort Group. The transactions are part of a refinancing plan to amend MGM MIRAGE's senior credit facility, repay existing debt under that credit facility and to redeem and tender for a portion of MGM MIRAGE's existing notes.