Caesars’ offer expires with $4,000 more 5¼% notes tendered; calls rest

Chicago, Oct. 8 – Caesars Entertainment, Inc. announced the expiration of its tender offer at 12 a.m. ET on Oct. 7, according to an 8-K filing with the Securities and Exchange Commission.

After the early tender deadline but before the final deadline, noteholders tendered another $4,000 of the 5¼% senior notes due 2025 (Cusip: 12652AAA1).

Caesars paid $985 for each $1,000 of notes tendered after the early deadline plus interest to the Oct. 8 payment date.

Before the early deadline, as previously reported, noteholders tendered $889,277,000 of their notes. Early tendering noteholders received a total consideration of $1,015 per $1,000 note plus interest to the payment date on Sept. 24.

The early deadline was 5 p.m. ET on Sept. 23.

After the settlement date, $810,719,000 of the notes will remain outstanding.

Previously, Caesars issued a notice of redemption for $500 million of the notes for Oct. 15 at 101.313 plus interest to the redemption date.

Caesars is now issuing a notice for all remaining notes that were not part of the call for Oct. 15 at the same price.

Credit Suisse Securities (USA) LLC (800 820-1653 or 212 538-2147) is the dealer manager for the tender offer.

D.F. King & Co., Inc., (866 207-3626 or 212 269-5550; czr@dfking.com) is the tender agent.

The casino and entertainment company is based in Las Vegas.

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