Harrah’s Entertainment’s wholly owned subsidiary, Harrah’s Operating Company, is proposing to issue USD720m aggregate principal amount of senior secured notes due 2017 in a private offe
Harrah’s Entertainment’s wholly owned subsidiary, Harrah’s Operating Company, is proposing to issue USD720m aggregate principal amount of senior secured notes due 2017 in a private offering that is exempt from the registration requirements of the Securities Act of 1933.
The notes are to be issued under the same indenture governing the 11¼ per cent senior secured notes due 2017 that were issued on 10 June 2009.
Harrah’s intends to use the net proceeds from this private offering to repay a portion of Harrah’s existing term loan and revolving credit indebtedness under HOC’s senior secured credit facilities.
The notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act, and outside the US, only to non-US investors pursuant to Regulation S.
The Notes will not be initially registered under the Securities Act or any state securities laws and may not be offered or sold in the US absent an effective registration statement or an applicable exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state securities laws.
Harrah’s Entertainment is the world’s largest provider of branded casino entertainment. Since its beginning in Reno, Nevada, more than 70 years ago, Harrah’s has grown through development of new properties, expansions and acquisitions, and now operates casinos on four continents.
