Monday, September 14, 2009

Harrah's Debt

Harrah's goes deeper and deeper in debt.
Harrah's Entertainment, Inc. (“Harrah's”) announced today that Harrah’s Operating Escrow LLC and Harrah's Escrow Corporation (the “Escrow Issuers”), wholly-owned unrestricted subsidiaries of Harrah’s Operating Company, Inc. (“HOC”), are proposing to issue $1 billion aggregate principal amount of senior secured notes due 2017

Harrah’s intends to use the net proceeds from this private offering to retire a portion of Harrah’s existing term loan and revolving credit indebtedness under HOC’s senior secured credit facilities and for general corporate purposes.

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