Caesars launches tender for $989M 5.75% notes due 2025; prices $1.5B of 6.5% notes due 2032

Caesars Entertainment, Inc.

Tender offer for any and all $989M of 5.750% Senior Secured Notes due 2025; expires Jan 31, 2024.
Priced $1.5B of 6.500% Senior Secured Notes due 2032 at par; closing expected Feb 6, 2024.
New Term B-1 loan upsized from $2.0B to $2.9B; proceeds to redeem existing notes due 2025.
Net proceeds from notes and loan will fund redemption of 6.250% notes due 2025 and the tender offer.

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