Harrah's to issue up to $4.525 billion in senior notes, $1.5 billion in PIK toggle notes for LBO

By Andrea Heisinger

Omaha, Dec. 24 - Harrah's Entertainment Inc. is expecting to issue up to $4.525 billion in senior unsecured notes and $1.5 billion of payment-in-kind toggle senior notes, the company has said.

The notes will be backed by a $6.025 billion bridge facility via joint bookrunners Banc of America Securities, Credit Suisse, Deutsche Bank, JPMorgan and Merrill Lynch.

This information was included in a Securities and Exchange Commission filing about the company's leveraged buyout by Texas Pacific Group and Apollo Management.

Harrah's owns and operates casinos, hotels and golf courses and is based in Reno, Nev.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.