Caesars Announces To Offer $1,500 Mln Of Senior Secured Notes

(RTTNews) - Resorts and Casino chain, Caesars Entertainment, Inc. (CZR) Wednesday announced its intention to offer $1,500 million of 6.250 percent senior secured notes due 2025 and 7.000 percent senior secured notes due 2030.

Additionally, the company plans to apply for approximately $2 billion senior secured loan under CEI Credit agreement.

The company proposes to use the proceeds from the offering and the loan to pay-off expenses of ongoing transactions, to repay debts, to redeem or repurchase the existing 6.250 percent senior secured notes, and for other corporate-related purposes.

In the pre-market activity, shares of Caesar are trading at $46.09, up 0.74 percent on the Nasdaq.