Caesars Entertainment Closes New $3B Credit Facility

Caesars Entertainment Inc (NASDAQ: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.