- 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.
Dow Edges Lower; Sientra Shares Spike Higher
U.S. stocks traded pared some gains midway through trading, with Dow Jones turning lower on Friday.
The Dow traded down 0.07% to 33,810.44 while the NASDAQ rose 0.17% to 13,260.91. The S&P 500, also rose, gaining, 0.06% to 4,296.69.
