The owners of the CityCenter project in Las Vegas, in which Dubai World has a 50 per cent stake, plan to raise more than US$1 billion (Dh3.67bn) from the sale of bonds in an effort to restructure its extensive debt pile.
CityCenter Holdings, the owner of the giant hotel and entertainment complex, wants to sell $1.1bn of debt in a private placement.
Half of CityCenter Holdings is owned by a subsidiary of MGM Resorts, with the remainder owned by Infinity World, a wholly-owned subsidiary of Dubai World.
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