$4 billion in financing lined up for MGM/Mirage merger

Thursday, March 9, 2000 | 11:06 a.m.

Bank of America, based in Charlotte, N.C., said it will provide $4 billion in credit to finance casino company MGM Grand Inc.'s $6.4 billion purchase of Mirage Resorts Inc.

MGM Grand, controlled by billionaire Kirk Kerkorian, said Monday that it will pay $21 a share in cash for Mirage and assume about $2 billion of Mirage's debt. MGM Grand said it already arranged financing for the transaction.