MGM Looks for Sixth Extension on Debt
MGM has asked its lenders for a sixth deadline extension on its debt and interest payments, according to THE HOLLYWOOD REPORTER. The request was expected but whether its more than 100 lenders will accept another push on payments towards its nearly $4 billion worth of debt is unknown. Lenders will certainly need to be more details of MGM's restructuring plan to even consider another extension. If the lenders balk, MGM will need to pay $250 million of principal and over $200 million in interest by July 15.