Business
Caesars Entertainment, Inc. Announces Final Settlement of Tender Offer for 5.250% Senior Notes Due 2025
LAS VEGAS and RENO, Nev., Oct. 8, 2021 /PRNewswire/ -- Caesars Entertainment, Inc. (the "Company") (Nasdaq: CZR) today announced the expiration of the
About this update from Caesars Entertainment, Inc.
[{"type":"text","content":"LAS VEGAS and RENO, Nev., Oct. 8, 2021 /PRNewswire/ -- Caesars Entertainment, Inc. (the \"Company\") (Nasdaq: CZR) today announced the expiration of the previously announced tender offer (the \"Tender Offer\") to purchase for cash up to $1.2 billion of the 5.250% Senior Notes due 2025 (the \"Notes\") issued by its indirect wholly owned subsidiaries, Caesars Resort Collection, LLC and CRC Finco, Inc. (the \"Issuers\") on the terms and subject to the conditions set forth in the Issuers' Offer to Purchase dated September 10, 2021 and the accompanying Letter of Transmittal dated September 10, 2021 (together, the \"Tender Offer Documents\"), and that it accepted and made payment for $4,000 in aggregate principal amount of the Notes which, combined with the previously announced early settlement on September 24, 2021 (the \"Early Settlement Date\"), resulted in $889,281,000 in aggregate principal amount, representing approximately 52.31% of the Notes. All of the Notes paid on the date of this announcement (the \"Final Settlement Date\") were validly tendered and such tenders were not withdrawn after the Early Settlement Date and at or prior to 12:00 a.m., New York City time, on October 7, 2021 (the \"Expiration Time\"). Capitalized terms used and not defined in this press release have the meanings given to them in the Tender Offer Documents.\n\n \n \n \n \n \n \n\n \nHolders of Notes paid on the Early Settlement Date and the Final Settlement Date received the consideration set forth in the table below, as well as accrued and unpaid interest on such Notes from the last interest payment date with respect to such Notes to, but not including, the Early Settlement Date or Final Settlement Date:\nSeries of Notes\nCUSIP Numbers(1)\nAggregate Principal Amount Outstanding\nAggregate Principal Amount of Early Tender Notes\nAggregate Principal Amount of Final Tender Notes\nPercent of Outstanding Principal Amount Tendered\nTender\nConsideration(2)\nEarly Tender Premium(3)\nTotal Consideration(4)\n5.250% Senior Notes due 2025\n12652 AAA1 /\nU1264 AAA1\n$1,700,000,000\n$889,277,000\n$4,000\n52.31%\n$875,941,785\n$26,678,310\n$902,620,095\n(1)\nNo representation is made as to the correctness or accuracy of the CUSIP numbers listed in this table or printed on the Notes. They are provided solely for the convenience of holders of Notes. \n(2)\nRepresent...