Caesars Entertainment (NASDAQ: CZR) Declares Pricing of 4.625% Senior Notes due 2029

Caesars Entertainment (NASDAQ: CZR) reported that it priced an offering of $1.2 billion aggregate principal amount of its 4.625% Senior Notes due 2029 at par (the “Notes”) (the “Notes Offering”). The sale of the Notes is expected to be consummated on or about September 24, 2021, subject to customary closing conditions. The size of the Notes Offering was increased by $200 million aggregate principal amount subsequent to the initial announcement of the Notes Offering.


The Company plans to apply the net proceeds of the sale of the Notes, together with cash on hand, (i) to tender, redeem, repurchase, defease or satisfy and discharge all of the 5.250% Senior Notes due 2025 of Caesars Resort Collection, LLC, a wholly-owned subsidiary of the Company, together with all accrued interest, fees and premiums, and (ii) to pay fees and expenses related to the foregoing.


The Notes are being offered in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

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Dennis Morris

Dennis Morris writes related to the Business Category. He manages to cover anything thrown at him in these two verticals owing to his natural inclination towards Business. Dennis is our freelance contributor. He is responsible for covering developments in finance and business categories.

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