Caesars Entertainment Inc. seized on strong demand from credit investors to borrow $4.4 billion and tackle debt due next year.
The casino and hotel operator sold a $1.5 billion secured bond that will mature in eight years, a person with knowledge of the matter said. It priced to yield 6.5%, slightly tighter than initially expected.
The company also sold a $2.9 billion term loan due 2031, $900 million more than initially proposed. Pricing for the loan tightened to 275 basis points over the Secured Overnight Financing Rate from 300 basis points over the benchmark, according to a different person familiar ...
