Daily News: September 23, 2013

Bloomberg: Caesars Sets Rate on $3B Term Loan

Bloomberg reported that Caesars Entertainment set the rate on a $3 billion term loan it’s seeking to refinance borrowings, according to a Bloomberg source.

The seven-year debt will pay interest at 5.5 percentage points more than the London interbank offered rate, with a 1 percent minimum on the lending benchmark, according to a Bloomberg source, who asked not to be identified because the terms aren’t set. Lenders are being offered the loan at 99 cents on the dollar, Bloomberg also reported.

To read the entire Bloomberg story, click here.

Previously on abfjournal: Bloomberg: Citigroup Arranging Caesars $4.85B Refinancing, September 19, 2013