LAS VEGAS, Nov. 17, 2020 /PRNewswire/ — MGM Growth Properties Operating Partnership LP (the “Operating Partnership”) and MGP Finance Co-Issuer, Inc. (together, the “Issuers”), consolidated subsidiaries of MGM Growth Properties LLC (NYSE: MGP) (the “Company”), have priced $750 million in aggregate principal amount of 3.875% senior notes due 2029 (the “notes”) at par. The $750 million aggregate principal amount of the notes represented an increase of $250 million from the original offering size of $500 million. The offering is expected to close on November 19, 2020, subject to customary closing conditions.
The Issuers plan to use the net proceeds of the offering for general corporate purposes, which may include the redemption of up to $700 million of the Operating Partnership units held by MGM Resorts International (“MGM”) should MGM elect to exercise certain rights it holds to cause the redemption of such units for cash.
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