MGM Growth Properties Operating Partnership LP (the "Operating Partnership") and MGP Finance Co-Issuer, Inc. (together, the "Issuers"), consolidated subsidiaries of MGM Growth Properties LLC (NYSE: MGP) (the "Company"), today announced that the Issuers propose to offer $500 million in aggregate principal amount of senior notes due 2025 (the "notes").

The Issuers plan to use the net proceeds of the offering to repay $494 million of drawings under the Operating Partnership's revolving credit facility, which drawings were primarily related to improving the Company's liquidity position in light of the COVID-19 pandemic and the redemption of $700 million of the Operating Partnership units held by MGM Resorts International.

The notes proposed to be offered will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and may not be offered or sold in the United States or to any U.S. persons absent registration under the Securities Act, or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes will be offered only to "qualified institutional buyers" under Rule 144A of the Securities Act or, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act.