MGM Resorts International has announced plans to issue $675 million in senior notes maturing in 2029. The proceeds will be used to repay existing debt, specifically targeting the 5.750% senior notes due in 2025. The notes are unsecured senior obligations of the Company and will be guaranteed by most of its domestic subsidiaries.
Between May 12 and May 18, a series of significant events unfolded in India, including political developments, corporate financial results, and business news.
AAP MP Swati Maliwal accused the Chief Minister Arvind Kejriwal’s PA of assault, leading to an investigation by the Delhi Police.
Prime Minister Narendra Modi filed his nomination for the Lok Sabha election from Varanasi, offering prayers at Dashashwamedh Ghat and visiting the Kal Bhairav temple.
Boeing shareholders re-elected David Calhoun as CEO and approved his $32.8 million compensation despite ongoing investigations into quality-control issues.
JSW Steel’s Q4 profit declined by 64.54% to 1,299 crore due to higher coking coal prices.
Vedanta declared an interim dividend of 4,089 crore and plans to raise 8,500 crore of capital through equity or debt.
Vodafone Idea’s losses widened to 7,666 crore in Q4, while revenues marginally improved.
Anita Goyal, the wife of Jet Airways founder Naresh Goyal, passed away at the age of 70.
Airtel’s Q4 profit fell by 31% to 2,071.6 crore due to foreign exchange losses in its African subsidiary.
Zomato reported a consolidated net profit of 175 crore in Q4 due to operational efficiencies and enhanced cost controls.
The initial public offer of Go Digit General Insurance received 9.60 times subscription on the last day of bidding.
Latvia’s national airline, AirBaltic, has successfully issued a €340 million bond, marking the largest corporate bond offering in the country’s history. The bonds, which carry a 14.50% interest rate and mature in 5 years and 3 months, were met with strong demand from international and local investors, including the Latvian State. The orderbook reached €800 million, exceeding the supply. AirBaltic President and CEO Martin Gauss said the bond issue strengthens the airline’s position and provides liquidity for continued investments. The bonds will settle on May 14, 2024, and are expected to be listed on the Euronext Dublin stock exchange.
