Caesars Entertainment, Inc. Announces the Expiration and Results of Tender Offer for 6.250% 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 that 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”) on the terms and subject to the conditions set forth in the Company’s Offer to Purchase, dated January 18, 2024 (the “Offer to Purchase”), and the accompanying Notices of Guaranteed Delivery, dated January 18, 2024 and January 30, 2024 (the “Notice of Guaranteed Delivery” and together with the Offer to Purchase, the “Tender Offer Documents”), expired at 5:00 p.m., New York City time, on January 31, 2024 (the “Expiration Time”). As of the Expiration Time, $2,980,966,000, or 87.70%, of the $3,399,000,000 aggregate principal amount outstanding of the Notes had been validly tendered and not validly withdrawn, and an additional $7,449,000, or 0.22%, of the Notes had been tendered pursuant to guaranteed delivery procedures. Payment for the Notes validly tendered and accepted for purchase will be made on February 6, 2024 (the “Settlement Date”).\n\n\nCertain information regarding the Notes is set forth in the table below.\n\n\n\n\nTitle of Security\n\n\n\n\n\n\nCUSIP Numbers/ISINs\n\n\n\n\n\n\nU.S. Treasury Reference Security\n\n\n\n\n\n\nBloomberg Reference Page\n\n\n\n\n\n\nReference Yield\n\n\n\n\n\n\nFixed Spread\n\n\n\n\n\n\nPrincipal Amount Outstanding\n\n\n\n\n\n\n \n\n\n\n\nPrincipal Amount Accepted for Purchase(1)\n\n\n\n\n\n\nPercentage of Principal Amount Outstanding(1)\n\n\n\n\n\n\n\n\n \n\n\n\n\n6.250% Senior Secured Notes due 2025\n\n\n\n\n\n\n \n\n\n\n\n144A:\n28470RAH5/US28470RAH57\n\nReg S:\nU2829LAC9/USU2829LAC91\n\nIAI:\n28470RAJ1/US28470RAJ14\n\n\n\n\n\n\n \n\n\n\n\n3.000% U.S. Treasury due June 30, 2024\n\n\n\n\n\n\n \n\n\n\n\nFIT3\n\n\n\n\n\n\n \n\n\n\n\n5.257%\n\n\n\n\n\n\n \n\n\n\n\n0 bps\n\n\n\n\n\n\n \n\n\n\n\n$3,399,000,000\n\n\n\n\n\n\n \n\n\n\n\n$2,980,966,000\n\n\n\n\n\n\n \n\n\n\n\n87.70%\n\n\n\n\n\n\n\n\n(1)\n\n\nNot including any amount of the Notes submitted pursuant to the guaranteed delivery procedures described in the Tender Offer Documents. $7,449,000 of the Notes were tendered through the guaranteed delivery procedures and we expect to accept such Notes for purchase upon their timely delivery.\n\n\n\n\n\n\n\nHolders of the Notes ...

More updates from Caesars Entertainment, Inc.