Caesars Entertainment Reprices $2.4 Billion Loan

Struggling casino operator Caesars Entertainment (CZR) said on Wednesday that its subsidiary Caesars Entertainment Resort Properties has successfully repriced its $2.4 billion senior secured term loan facility.

"We believe this may present an opportunity to take additional actions to further reduce annual interest expense should favorable market conditions persist," Caesars Entertainment CEO Mark Frissora said of the debt restructure.

The interest rate under the credit facility is now LIBOR plus 350 basis points, lower by 250 basis points than the previous rate.

Caesars stock is unchanged in premarket trading this morning.

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