Caesars to sell additional $300M in 9 pct notes

Caesars Entertainment plans to sell added $300 million in 8-year senior notes

Associated Press

LAS VEGAS (AP) -- Caesars Entertainment Corp. said Wednesday that two of its subsidiaries plan to sell an additional $300 million of 9 percent senior secured notes due 2020 in a private offering.

Caesars said the notes are in addition to the 9 percent senior secured notes due 2020 that it issued in August.

The Las Vegas-based casino operator said it plans to use the net proceeds from the offering to pay related fees and expenses and for general corporate purposes, which may include the repayment of outstanding debt.

Shares of Caesars, which runs casino-resorts mostly under its namesake, Harrah's and Horseshoe brands, fell 31 cents, or 4.7 percent, to close at $6.30.

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