Caesars announces pricing of $1.4 billion senior secured credit facilities

Caesars Entertainment Corporation today announced the pricing of US$1.4 billion of senior secured credit facilities for Caesars Entertainment Operating Company, consisting of a $1.2 billion seven-year senior secured term loan facility and a $200 million five-year senior secured revolving credit facility.

Mark Frissora, president and chief executive officer of Caesars Entertainment said the “pricing of the Senior Facilities is another important milestone in the process to complete CEOC’s restructuring.”

The proceeds from the term facility will be used to finance transactions in connection with CEOC’s emergence from bankruptcy, said the company in a press release.