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Firm News

Julie Cohen
Director of Marketing and Communications

Apollo and TPG Complete $27.8 Billion Buyout of Harrah's Entertainment, Inc.

Date: 01/28/08

Harrah's Entertainment, Inc. (NYSE: HET), the worlds largest casino company has been acquired by private-equity groups Apollo Management and TPG Capital L.P. for $27.8 billion making it the largest deal ever to take a publicly held casino company private.

Cahill represented Bank of America, Citigroup, Credit Suisse, Deutsche Bank, JPMorgan and Merrill Lynch as Lead Arrangers and Joint Bookrunners including Bear Stearns and Morgan Stanley as Managers in connection with $16.025 billion of the debt acquisition. The financing was comprised of $9.25 billion of Senior Secured Credit Facilities (consisting of $7.25 billion of Term Loan Facilities and a $2.0 billion Revolving Credit Facility) and $6.775 million of Senior Unsecured Interim Loan Facilities.