secwatch.observer — SEC 8-K summary
======================================

Issuer:     Caesars Entertainment, Inc. (CZR)
CIK:        0001590895
Form:       8-K
Filed at:   2022-10-05T23:59:59+00:00
Accession:  0001193125-22-258242
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Caesars enters $750M Term A Loan, ups revolver to $2.25B, extends maturities to 2028
--------------------------------------------------------------------------------

- Incurred $750M senior secured Term A Loan maturing January 2028; quarterly amortization of 1.25% of original principal.
- Revolving Credit Facility increased to $2.25B and extended to January 2028, with a $388M letter of credit subfacility.
- Term A Loan proceeds used to prepay $750M of Caesars Resort Collection term B loans due 2024.
- Interest at Adjusted Term SOFR + 2.25% or Base Rate + 1.25%, with three step-downs based on net total leverage.
- New maintenance covenants: max net total leverage ratio 7.25x stepping down to 6.50x; min cash interest coverage 1.75x stepping up to 2.00x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590895/000119312522258242/0001193125-22-258242-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590895/000119312522258242/d407428d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-258242

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer