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The Tender Offer is scheduled to expire at five p. m. m. , New York City time, January 30, 2024, unless extended or terminated earlier as described in the Offer to Purchase (the time and date, if extended, the “Expiration Period”). The Offered Notes may be validly withdrawn at any time no later than the expiry time described in the Offer to Purchase. Bondholders are encouraged to read the offering documents thoroughly before making any resolution related to the offer.
The “Tender Offer Consideration” per $1,000 principal amount of Notes validly tendered, not validly withdrawn, and accepted for purchase under the Tender Offer has been decided in the manner described in the Offer to Purchase with reference to the constant spread for the Notes. specified above plus the bid-based yield of the US Treasury Reference Security specified below, as cited in the Bloomberg Bond Trader FIT3 series of pages, at 2:00 p. m. (Paris time). Today is New York time.
Safety Title
CUSIP Numbers/ISINs
Unpaid Amount
U. S. Treasury Benchmark
Benchmark Performance
Bloomberg Reference Page
Fixed spread
Consideration(1)
6. 250% senior secured notes due 2025
144A: 28470RAH5/US28470RAH57
Reg S: U2829LAC9/USU2829LAC91
IAI: 28470RAJ1/US28470RAJ14
MX$3,399,000,000
3,000% of the U. S. Treasury. U. S. bonds due June 30, 2024
5,257%
FIT3
0 points per second
MX$1,003. 79
(1)
For a principal amount of $1,000 of Notes accepted for acquisition and accrued and unpaid interest up to, among others, the date of the tender offer agreement.
In addition to the consideration for the offer, holders of validly offered and accepted offers to acquire will also obtain accrued and unpaid interest up to the date of the offer agreement. Be Be Be Offering tender, which is recently scheduled for February 6, 2024. The completion of the tender is subject to certain market and other situations, adding the final touch through the Company of a new debt financing on terms and conditions that suit it.
The Company intends to (i) repurchase all Notes offered and accepted for purchase at least 10 or more than 60 days after the date of the tender agreement, offer the acquisition for a value equivalent to the value of the offer, and offer consideration. , plus accrued and unpaid interest, up to, but not limited to, the redemption date (provided that at least 90% of the Bonds are offered and accepted for purchase pursuant to the tender being offered) or (ii) satisfy and cancel the contract governing the Bonds, in accordance with the provisions thereof, and to redeem at par on July 1, 2024, the Bonds that remain outstanding after the final touch of the public acquisition in offer. Upon such satisfaction and release, the Company shall no longer be bound by the restrictive clauses of the contract governing the Bonds.
As described in the Tender Offer, the Offered Securities may be validly withdrawn at any time prior to or on the withdrawal deadline, but not after, unless the Company amends the Tender Offer, in which case the withdrawal rights would possibly be extended as determined by the Company, to the extent required by law. The final touch of the Tender Offer and the Company’s obligations to settle for acquiring and paying the validly tendered (and not validly withdrawn) Notes in connection with the Tender Offer are subject to the satisfaction or waiver of the financing condition and other conditions described in the Tender Offer.
The statements of intent contained in this press release do not constitute a redemption performance under the contract governing the Bonds. Such realization, if issued, shall be granted only in accordance with the terms of acceptance as true with the deed. The Company may modify, expand or, subject to certain situations and applicable law, terminate the Tender Offer at any time in its sole discretion. The tender offer is not conditional on the offer of a minimum number of tickets.
This press release shall not constitute an offer to buy or a solicitation of an offer to sell the Notes or any other security, nor shall there be any offer or sale of the Notes or other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. The full terms and situations of the Tender Offer are described in the Tender Offer and similar Notice. Guaranteed Delivery, copies of which may be received from D. F. King
J. P. Morgan Securities LLC is acting as lead broker and Deutsche Bank Securities, Inc. is acting as co-broker-manager in connection with the tender offer. Questions regarding the terms of the tender offer may be directed to J. P. Morgan Securities LLC at (866) 834-4666 (toll-free in the U. S. ) and (212) 834-4087 (collect).
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino entertainment company in the United States and one of the most diverse providers of casino entertainment in the world. Since its inception in Reno, Nevada, in 1937, Caesars Entertainment, Inc. has grown through the progression of new resorts, expansions and acquisitions. Caesars Entertainment, Inc. resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe®, and Eldorado® brands. Caesars Entertainment, Inc. offers a variety of gaming, entertainment, and hospitality equipment. , one-of-a-kind destinations, and a full suite of online and mobile gaming and sports experiences. All of this, coupled with its industry-leading Caesars Rewards loyalty program, the company aims to generate prices for its consumers through a unique combination of impeccable service, operational excellence, and generational leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. To view our most recent CSR report, please visit www. caesars. com/corporate -social-responsibility/CSR-reports. Know when to prevent before you start®. Problem gambling? Call 1-800-522-4700.
Forward-Looking Statements
This press release may include information that may also constitute merely forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The Company assumes no legal responsibility to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new data, long-term events or otherwise, unless otherwise required. through the law.
Disclaimer
This announcement deserves to be read together with the tender documents. This advertisement and the be be offer documents (adding the documents incorporated herein by reference) involve vital data that deserve to be read thoroughly before making a decision related to the be be offer. If a Bondholder is in doubt about the action to be taken, he or she is advised to seek without delay his or her own legal, tax, accounting and monetary advice, including, as to the tax consequences, his or her stockbroker, bank manager, lawyer, accountant or other independent monetary or legal advisor. Any individual or company whose notes are held on their behalf through a broker, bank, custodian, accept as true with a company or other representative or intermediary deserves to contact such entity if they wish to participate in the offering. Neither the Company, nor the managing brokers, nor the bidding and data agent, nor any user who controls or is a director, officer, worker or agent of those users, or a member of the organization of such users, makes any advice as to whether Bondholders deserve to participate in the Offer.
See the businesswire. com edition: https://www. businesswire. com/news/home/20240130300079/en/
Contacts
Caesars Entertainment, Inc. Investor Relations: Brian Agnew, bagnew@caesars. com Charise Crumbley, ccrumbley@caesars. com
Media Relations:
Kate Whiteley, kwhiteley@caesars. com