Horseshoe Baltimore to launch $300 million term loan on Tuesday

By Sara Rosenberg

New York, June 8 – Horseshoe Baltimore (CBAC Gaming LLC) is scheduled to hold a bank meeting at 10 a.m. ET on Tuesday to launch a $300 million seven-year covenant-light term loan, according to a market source.

Wells Fargo Securities LLC is the left lead on the deal.

The term loan has 101 soft call protection for six months, the source said.

Proceeds will be used to refinance an existing term loan and to fund working capital.

Commitments are due on June 27, the source added.

CBAC, a joint venture between Caesars Growth Partners LLC and several other third parties, is the owner and operator of the Horseshoe Baltimore Casino in Baltimore.

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