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Caesars Entertainment to redeem senior secured notes

EditorRachael Rajan
Published 06/02/2024, 22:42
Updated 06/02/2024, 22:42
© Reuters.

LAS VEGAS & RENO, Nev. - Caesars (NASDAQ:CZR) Entertainment, Inc. (NASDAQ: CZR), a leading casino-entertainment provider, announced today the settlement of its cash tender offer for the complete buyback of its 5.750% Senior Secured Notes due in 2025. The outstanding aggregate principal amount of these notes is $989,102,000. The company's subsidiaries, Caesars Resort Collection, LLC and CRC Finco, Inc., initiated the tender offer and have now disclosed their plan to redeem the remaining notes on February 16, 2024.

The redemption price has been set at 100.183% of the principal amount, in addition to any accrued and unpaid interest up until the redemption date. This move is in line with the terms outlined in the indenture that governs the notes.

Registered holders of the notes received a Notice of Redemption on Tuesday from U.S. Bank Trust Company, National Association, the trustee under the indenture. The notice detailed the procedures for redemption, with further information available through Caesars Entertainment's investor relations.

The information in this article is based on a press release.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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