- Caesars Entertainment Inc (NASDAQ:CZR) has closed new $3 billion senior secured credit facilities.
- The facility consists of a new $750 million (Term A Loan) senior secured term loan and a new $2.25 billion senior secured revolving credit facility resulting from an increase and extension to its existing revolving credit facility.
- With the closing, Caesars retired Caesars Resort Collection LLC’s (CRC) existing revolving credit facility and used the proceeds of the Term A Loan to prepay $750 million of CRC’s existing term B loans due December 2024.
- “This refinancing transaction will reduce interest expense while also extending debt maturities,” said CFO Bret Yunker.
- Price Action: CZR shares traded higher by 0.16% at $38.55 on the last check Thursday.
Morgan Stanley Initiates Coverage On ProFrac Holding with Overweight Rating, Announces Price Target of $30
Morgan Stanley analyst Connor Lynagh initiates coverage on ProFrac Holding (NASDAQ:ACDC) with a Overweight rating and announces Price Target of $30.
