MGM Resorts International is planning a $750 million bond saleafter failing last month to persuade all of its lenders to extendthe due date on loans.

The biggest casino operator on Las Vegas's Strip will issue10-year notes to help pay $965 million owed to term loan lenders asof March 14 that refused to extend commitments as well as to payback other outstanding borrowings, MGM said in a statement today.The Las Vegas-based company extended the maturity on $1.8 billionof loans to February 2015 while $1.3 billion remains due inFebruary 2014, MGM said in a Feb. 27 regulatory filing.

MGM is returning to the bond market as speculative-grade yieldstumble to 7.6 percent as of yesterday from as high as 10.2 percentin October, according to Bank of America Merrill Lynch index data.The company sold $850 million of 8.625 percent, seven-year notes inJanuary at the lowest unsecured interest rate it has obtained sincebefore the economic downturn, Dan D'Arrigo, MGM's chief financialofficer and treasurer, said in a Feb. 22 conference call.

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