Caesars reduces interest margins on ~$5.3B term loans via Fifth Amendment

Caesars Entertainment, Inc.

New margin: 2.25% for Term SOFR loans, 1.25% for Base Rate loans on both Term B ($2.4B) and Term B-1 ($2.9B) facilities.
Amendment effective November 25, 2024; non-consenting lenders replaced automatically by JPMorgan Chase as replacement lender.
Borrower pays 1% prepayment premium if refinanced within 6 months with new broadly syndicated term loans.
Consenting lenders could choose cashless consent or assign-and-reallocation to continue holding amended loans.

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