Cahill Represents Arrangers in Amendment to Caesars Entertainment’s Credit Agreement, Initial Purchasers in $1.5 Billion Notes Offering, and Dealer Managers in Certain Tender Offers
Date: 02/06/24
Cahill represented the arrangers in connection with an amendment to the existing credit agreement with Caesars Entertainment, Inc., pursuant to which Caesars Entertainment, among other things, incurred a new $2.9 billion term “B” loan.
Cahill also represented the initial purchasers in connection with a Rule 144A offering of $1.5 billion aggregate principal amount of 6.5% senior secured notes due 2032 by Caesars. Proceeds from the new loan and new secured notes were used to tender, redeem, repurchase, defease or satisfy, and discharge certain outstanding debt securities of Caesars Entertainment and certain outstanding debt securities of Caesars Resort Collection, LLC and CRC Finco Inc., each a wholly-owned subsidiary, and to pay related fees and expenses. Additionally, Cahill represented the dealer managers with respect to such tender offers.
Caesars Entertainment, Inc. is a geographically diversified gaming and hospitality company.