Caesars Entertainment, Inc. Announces Pricing of Tender Offer for 5.750% Senior Secured Notes Due 2025

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 the pricing terms of the previously announced cash tender offer (the “Tender Offer”) that its indirect wholly-owned subsidiaries, Caesars Resort Collection, LLC (“CRC”) and CRC Finco, Inc. (“CRC Finco” and, together with the CRC, the “Issuers”), commenced for any and all of the Issuers’ outstanding 5.750% Senior Secured Notes due 2025 (the “Notes”) on the terms and subject to the conditions set forth in the Issuers’ Offer to Purchase, dated January 24, 2024 (the “Offer to Purchase”), and the accompanying Notice of Guaranteed Delivery, dated January 24, 2024 (the “Notice of Guaranteed Delivery” and together with the Offer to Purchase, the “Tender Offer Documents”).\n\n\nThe Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on January 31, 2024 unless extended or earlier terminated as described in the Offer to Purchase (such time and date, as may be extended, the “Expiration Time”). Tendered Notes may be validly withdrawn at any time at or prior to the Expiration Time as described in the Offer to Purchase.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\"Tender Offer Consideration\" for each $1,000 principal amount of the Notes validly tendered, and not validly withdrawn, and accepted for purchase pursuant to the Tender Offer was determined in the manner described in the Offer to Purchase by reference to the fixed spread for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, today.\n\n\n\n\nTitle of Security\n\n\n\n\n\n\nCUSIP Numbers/ISINs\n\n\n\n\n\n\nPrincipal Amount Outstanding\n\n\n\n\n\n\nU.S. Treasury Reference Security\n\n\n\n\n\n\nReference Yield\n\n\n\n\n\n\nBloomberg Reference Page\n\n\n\n\n\n\nFixed Spread\n\n\n\n\n\n\nConsideration(1)\n\n\n\n\n\n\n\n\n5.750% Senior Secured Notes due 2025\n\n\n\n\n\n\n144A: 12770RAA1/US12770RAA14\n\n\n\n\nReg S: U1231BAA9/USU1231BAA99\n\n\n\n\n\n\n$989,102,000\n\n\n\n\n\n\n3.000% U.S. Treasury due June 30, 2024\n\n\n\n\n\n\n5.257%\n\n\n\n\n\n\nFIT3\n\n\n\n\n\n\n0 bps\n\n\n\n\n\n\n$1,001.8...

More updates from Caesars Entertainment, Inc.