Las Vegas When RENO, Nev., January 23, 2023 /PRNewswire/ — Caesars Entertainment, Inc. (NASDAQ: CZR) (the “Company”) today announced that, subject to market and other conditions, $1.25 billion The aggregate principal amount of senior secured notes due 2030 (“Notes”) in a private placement to qualified institutional investors under Rule 144A under the Securities Act of 1933 (the “Securities Act”), and foreign persons; usa Under Regulation S of the Securities Act. The Notes are guaranteed on a senior collateral basis by the Company’s existing and future wholly-owned domestic subsidiary, which is the guarantor for the Company’s Senior Secured Credit Facility (the “CEI Credit Agreement”) and the existing 6.25% Senior Credit Facility. . Secured Notes due 2025 (“Subsidiary Guarantor”), subject to certain regulatory approvals. Bonds and bond guarantees are senior collateral obligations of the issuer’s and subsidiary’s guarantors and, subject to certain regulatory approvals, are super senior to substantially all property and assets of the issuer and subsidiaries. guaranteed in the same order. The Issuer and the Subsidiary Guarantor currently owned or hereafter acquired by the Subsidiary Guarantor guarantees obligations under the Company’s Senior Secured Credit Facility and his existing 6.25% Senior Secured Notes due 2025. increase.
Concurrently with the issuance of the Notes, the Company entered into amendments to the CEI Credit Agreement, including, among other things, the new $1.75 billion Senior Secured Term Loan Facility (“New Term B Loan”). Closing of the new Term B Loan under the CEI Credit Agreement is not a condition of the sale closing of the Notes. The Company will use the net proceeds from the sale of the Notes, the new Term B Loan, borrowings under the Company’s existing Revolving Credit Facility, and cash on hand to repay all of the (i) Caesars Resort Collection, LLC Term B Loans; I plan to use it. , a wholly-owned subsidiary of the Company and pays all accrued interest, fees and insurance premiums, as well as (ii) fees and expenses related to the above.
The Notes are offered to persons reasonably considered to be qualified institutional investors under Section 144A of the Securities Act, and to other persons. usa Under Regulation S of the Securities Act. Notes are not registered under the Securities Act and may not be offered or sold in the United States unless registered as such. usa except for transactions subject to or not subject to securities law registration requirements and applicable state securities law exemptions.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale prior to registration or qualification in any state or jurisdiction where such offer, solicitation or sale is unlawful. shall not sell securities in public markets. under the securities laws of such state or jurisdiction.
This announcement contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding our strategy, goals and plans for future development or acquisition of assets or businesses, as well as statements regarding expectations, future performance, trends and other information that is not historical information. . As used in this report, “expect”, “believe”, “plan”, “plan”, “intend”, “expect”, “could”, “could” Terms or phrases such as , “estimate,” “likely,” “should,” “would,” “likely to continue,” and variations of such words or similar expressions is intended to identify forward-looking statements. Specifically, forward-looking statements may include, among other things, statements regarding offerings, new Term B loans or the anticipated use of the proceeds. All such statements are subject to risks, uncertainties and changes in circumstances that may materially affect our future results and business (“we”, “us”, “our” or other similar terms).
Forward-looking statements are based on the underlying assumptions as of the date such statements are made, including those referenced in particular statements. Such assumptions are based on internal estimates and analysis of market conditions and trends, business plans and strategies, economic conditions and other factors. Such forward-looking statements are only predictions and are subject to known and unknown risks and uncertainties. Many of them are beyond our control and are subject to change. Forward-looking statements by their nature involve risks and uncertainties as they relate to events and depend on future conditions that may not occur. Actual results and trends may differ materially from any future results, trends, performance or achievements expressed or implied by such statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statements. Forward-looking statements should not be construed as representations by us or any other person that the forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements. Some of the contingencies and uncertainties covered by the forward-looking statements contained herein include, but are not limited to: (a) COVID-19, inflation, fuel; The impact of rising prices, supply chain shortages, and labor shortages; and other economic and market conditions, including changes in consumer discretionary spending due to such factors, on our business, financial results, and liquidity. . (b) our ability to successfully operate our digital betting and iGaming platforms and to grow their user base; (c) risks associated with our leverage and our ability to reduce our leverage; (d) the impact of competition on our business and operating results, including new competition in certain markets; (e) the Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q and most recent reports on Form 8-K filed with the Securities and Exchange Commission;
In light of these and other risks, uncertainties and assumptions, the forward-looking events described in this press release may not occur. These forward-looking statements speak only as of the date of this press release and, if subsequently made available on our website or otherwise, may occur after that date. We do not intend to publicly update any forward-looking statements to reflect any circumstances or circumstances. Statements are made except where required by law.
Source Caesars Entertainment, Inc.