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Caesars Entertainment, Inc. Announces Extension of Tender Offer for 6.250% Senior Secured Notes Due 2025
LAS VEGAS & RENO, Nev.--(BUSINESS WIRE)-- Caesars Entertainment, Inc. (the “Company”) (Nasdaq: CZR) today announced that it has amended the terms of the
About this update from Caesars Entertainment, Inc.
[{"type":"text","content":" LAS VEGAS & RENO, Nev.--(BUSINESS WIRE)--\nCaesars Entertainment, Inc. (the “Company”) (Nasdaq: CZR) today announced that it has amended the terms of the previously announced cash tender offer (the “Tender Offer”) for any and all of its outstanding 6.250% Senior Secured Notes due 2025 (the “Notes”) to extend the expiration date from 5:00 p.m. New York City time, on January 30, 2024 to 5:00 p.m., New York City Time, on January 31, 2024 (as so extended, and as may be further extended, the “Expiration Time”). Additionally, in connection with such extension of the Expiration Time, the Company has announced that Notes tendered through the notice of guaranteed delivery procedures shall be required to be provided by 5:00 p.m. New York City time, on February 2, 2024 as set forth on the Notice of Guaranteed Delivery, dated January 30, 2024 (the “New Notice of Guaranteed Delivery”). More information regarding the tender offer is set forth in the Company’s Offer to Purchase, dated January 18, 2024 (the “Offer to Purchase”), and the accompanying Notice of Guaranteed Delivery, dated January 18, 2024 (the “Notice of Guaranteed Delivery” and together with the Offer to Purchase and the New Notice of Guaranteed Delivery, the “Tender Offer Documents”).\n\n\nTendered Notes may be validly withdrawn at any time at or prior to the Expiration Time as described in the Offer to Purchase. Holders of the Notes are urged to read the Tender Offer Documents carefully before making any decision with respect to the Tender Offer.\n\n\nThe \"Tender Offer Consideration\" for each $1,000 principal amount of the Notes validly tendered, and not validly withdrawn, and accepted for purchase pursuant to the Tender Offer was determined in the manner described in the Offer to Purchase by reference to the fixed spread for the Notes specified above plus the yield based on the bid-side price of the U.S. Treasury Reference Security specified below, as quoted on the Bloomberg Bond Trader FIT3 series of pages, at 2:00 p.m. New York City time, January 30, 2024.\n\n\n\n\nTitle of\nSecurity\n\n\n\n\n\n\nCUSIP Numbers/ISINs\n\n\n\n\n\n\nPrincipal\nAmount\nOutstanding\n\n\n\n\n\n\nU.S.\nTreasury\nReference\nSecurity\n\n\n\n\n\n\nReference\nYield\n\n\n\n\n\n\nBloomberg\nReference\nPage\n\n\n\n\n\n\nFixed\nSpread\n\n\n\n\n\n\nConsideration(1)\n\n\n\n\n\n\n\n\n6.250% Senior Secured N...