Harrah’s seeks to raise $750M through new notes | TahoeDailyTribune.com

Harrah’s seeks to raise $750M through new notes

LAS VEGAS (AP) – Private casino operator Harrah’s Entertainment Inc. says it hopes to raise $750 million through a new bond offering and use the money to pay of existing debt due sooner.

The Las Vegas-based company said in a regulatory filing on Wednesday that the new notes will be due 2018. The company on Tuesday announced an initial private offering of $500 million in new notes, but says officials increased the amount of the offering after the announcement.

Harrah’s says it plans to use the money to pay off other debt, including notes due next year.

The company says it had nearly $14 billion in total outstanding debt as of Dec. 31.

Support Local Journalism

Support Local Journalism

Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User


See more