Caesars Entertainment, Inc. has announced the pricing of its offering of senior notes due 2032 at an interest rate of 6.000% per annum and an issue price equal to 100% of the principal amount of the notes. The aggregate principal amount of the notes to be issued in the offering was increased to $1,100.0 million from the previously announced $1,000.0 million.
The company intends to use the proceeds of the offering of the notes to tender, redeem, or repurchase a portion of its existing 8.125% senior notes due 2027, together with all accrued interest, fees, and premiums thereon, and to pay fees and expenses in connection with the offering of the notes and the 2027 notes redemption.
The notes were offered in a private placement to qualified institutional buyers pursuant to rule 144a under the Securities Act of 1933, as amended, and to persons outside the United States under Regulation S of the Securities Act.
It's expected that the offering will close on or about October 17, 2024, subject to customary closing conditions.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Today the company's shares have moved 1.4% to a price of $43.55. If you want to know more, read the company's complete 8-K report here.
