Caesars Resort rises in secondary with partial prepayment; Entain reveals price guidance

By Sara Rosenberg

New York, Oct. 6 – Caesars Resort Collection LLC’s term loan B headed higher in trading on Thursday following news of a paydown with new term loan A borrowings, while the secondary market in general was unchanged to up a quarter of a point.

Caesars Resort’s term loan B due 2024 gained ground in the secondary market on the heels of the company’s disclosure that it prepaid $750 million of the debt with proceeds from a new term loan A at Caesars Entertainment Inc., a market source remarked.

The term loan B was quoted as high as 99 bid, 99¾ offered during Thursday’s session but settled in to 98¾ bid, 99½ offered by late day, the source continued. On Wednesday, the term loan B closed out the day at 97 7/8 bid, 98 5/8 offered.

Meanwhile, in the primary market, Entain Holdings Ltd. (GVC Finance LLC) released price talk on its term loan B in connection with its lender call.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.