Harrah's Entertainment to redeem 5½%, 8% and 8 1/8% senior notes

By Susanna Moon

Chicago, April 13 - Harrah's Entertainment, Inc. said it plans to redeem its outstanding 5½% senior notes due 2010, 8% senior notes due 2011 and 8 1/8% senior subordinated notes due 2011.

Funding for the redemption will come from a private offering of $500 million principal amount of second-priority senior secured notes due 2018.

Harrah's Operating is a subsidiary of Harrah's Entertainment, a Las Vegas-based provider of branded casino entertainment.

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