Caesars Entertainment Closes New $3B Credit Facility

Caesars Entertainment Closes New $3B Credit Facility
  • Caesars Entertainment Inc CZR has closed new $3 billion senior secured credit facilities.
  • The facility consists of a new $750 million (Term A Loan) senior secured term loan and a new $2.25 billion senior secured revolving credit facility resulting from an increase and extension to its existing revolving credit facility.
  • With the closing, Caesars retired Caesars Resort Collection LLC's (CRC) existing revolving credit facility and used the proceeds of the Term A Loan to prepay $750 million of CRC's existing term B loans due December 2024.
  • “This refinancing transaction will reduce interest expense while also extending debt maturities,” said CFO Bret Yunker.
  • Price Action: CZR shares traded higher by 0.16% at $38.55 on the last check Thursday.

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