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MGM Growth Properties Operating Partnership LP Announces Launch Of Exchange Offer For Its 5.750% Senior Notes Due 2027


Added 12-05-19 05:04:02pm EST - “MGM Growth Properties Operating Partnership LP and MGP Finance Co-Issuer, Inc. (the "Issuers"), consolidated subsidiaries of MGM Growth Properties LLC (NYSE: MGP), announced today that they have commenced an offer to exchange any…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “MGM Growth Properties Operating Partnership LP Announces Launch Of Exchange Offer For Its 5.750% Senior Notes Due 2027”. Below is an excerpt from the article.

LAS VEGAS, Dec. 5, 2019 /PRNewswire/ -- MGM Growth Properties Operating Partnership LP and MGP Finance Co-Issuer, Inc. (the "Issuers"), consolidated subsidiaries of MGM Growth Properties LLC (NYSE: MGP), announced today that they have commenced an offer to exchange any and all of their outstanding $750,000,000 in aggregate principal amount of 5.750% Senior Notes due 2027 (the "Initial Notes") for new 5.750% Senior Notes due 2027 (the "Exchange Notes") that have been registered under the Securities Act of 1933, as amended (the "Securities Act").

The exchange offer is being made pursuant to a Registration Rights Agreement entered into by the Issuers when they originally issued the Initial Notes. Since the Issuers issued the Initial Notes in a private placement transaction, the Initial Notes are subject to transfer restrictions. The purpose of the exchange offer is to allow holders of the Initial Notes to exchange their notes for Exchange Notes that do not have these restrictions.

The terms of the Exchange Notes to be issued in the exchange offer are substantially the same as the terms of the Initial Notes, except that the Exchange Notes will be registered under the Securities Act and will have no transfer restrictions under the federal securities laws, no registration rights and no rights to additional interest. Initial Notes that are not exchanged will continue to be subject to the existing transfer restrictions under the federal securities laws and the Issuers will have no further obligation to provide for the registration of such notes except under certain limited circumstances.

The exchange offer will expire at 5:00 p.m. New York City time, on January 6, 2020 unless extended by the Issuers. Valid tenders of the Initial Notes must be made, and may be withdrawn at any time, before the exchange offer expires.

Documents describing the terms of the exchange offer, including the prospectus and transmittal materials for making tenders, may be obtained from the exchange agent, U.S. Bank National Association, via mail or overnight package at U.S. Bank National Association, 60 Livingston Ave. St. Paul, Minnesota 55107, Attention: Specialized Finance, or via facsimile at (651) 466-7372.

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