December 13, 2017 7:41 PM ET

Real Estate Management and Development

Company Overview of CityCenter Holdings, LLC

Company Overview

CityCenter Holdings, LLC owns, develops, and operates CityCenter, a mixed-use development property in Las Vegas, Nevada. Its CityCenter property consists of a 4,004-room casino resort; a 392-room non-gaming boutique hotel; an approximately 329,000 leasable-square-foot retail district that include shops, dining, and entertainment venues; a 1,495 room luxury condominium-hotel; and residential units. The company was founded in 2007 and is based in Las Vegas, Nevada.CityCenter Holdings, LLC is joint venture of Project CC, LLC and Infinity World Development Corporation.

4882 Frank Sinatra Drive

Las Vegas, NV 89158

United States

Founded in 2007

Phone:

702-590-7111

Key Executives for CityCenter Holdings, LLC

Principal Executive Officer, President and Director
Age: 67
Compensation as of Fiscal Year 2017.

CityCenter Holdings, LLC Key Developments

CityCenter Holdings, LLC Announces Closing of $1.725 Billion Senior Credit Facilities

CityCenter Holdings, LLC announced that it has completed its refinancing transactions consisting of a new seven-year $1.6 billion term loan and a new five-year $125 million revolving credit facility. In connection with the refinancing transactions, the term loan B was issued at 99.5% of par and will bear interest at LIBOR plus 2.50%, representing a 25 basis point decrease from the prior facility, with a LIBOR floor of 0.75%. The revolving facility will bear interest at LIBOR plus 2.00%, unchanged from the prior facility. The revolving facility will mature in 2022 and the term loan B facility will mature in 2024. CityCenter used the net proceeds from the term loan to (i) refinance the outstanding amount under its existing term loan, (ii) pay a $350 million dividend to its members and (iii) pay related fees and expenses. CityCenter also paid its previously announced $250 million dividend from cash on hand, resulting in an aggregate dividend of $600 million to its members.

CityCenter Holdings, LLC Announces Launch of $ 1,725 Million Refinancing of Senior Credit Facilities

CityCenter Holdings, LLC announced that it has launched a syndication of a new $1,600 million term loan and upsized $125 million revolving credit facility. CityCenter intends to use the net proceeds from the term loan to refinance the outstanding amount under its existing term loan, pay a $350 million dividend to its members and pay related fees and expenses. The timing and size of any new credit facility and the use of proceeds thereof are subject to market and other conditions, and there can be no assurance that such actions will take place at any specific time, or at all.

CityCenter Holdings, LLC Announces Common and Special Dividend

CityCenter Holdings, LLC announced that its Board of Directors approved a $250 million dividend consisting of $172 million special dividend and $78 million dividend as part of its annual dividend policy. The $250 million dividend will be paid in the second quarter.

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