Caesars Leisure, Inc. Publicizes Early Tender Outcomes of Beforehand Introduced Tender Supply of the 5.250% Senior Notes Due 2025 | Information


LAS VEGAS and RENO, Nev., Sept. 24, 2021 /PRNewswire/ — Caesars Leisure, Inc. (the “Firm”) (Nasdaq: CZR) at this time introduced the early tender outcomes as of 5:00 p.m., New York Metropolis time, on September 23, 2021 (the “Early Tender Deadline”) and election of early settlement for its beforehand introduced tender provide (the “Tender Supply”) by its oblique wholly owned subsidiaries, Caesars Resort Assortment, LLC and CRC Finco, Inc. (the “Issuers”) to buy for money as much as $1.2 billion (the “Most Quantity”) of the Issuers’ excellent 5.250% Senior Notes due 2025 (the “Notes”) on the phrases and topic to the situations set forth within the Issuers’ Supply to Buy dated September 10, 2021 and the accompanying Letter of Transmittal dated September 10, 2021 (collectively, the “Tender Supply Paperwork”).  Capitalized phrases used and never outlined on this press launch have the meanings given to them within the Tender Supply Paperwork.

The Withdrawal Deadline has handed and the Notes tendered pursuant to the Tender Supply could now not be withdrawn, besides within the restricted circumstances described within the Tender Supply Paperwork. The combination principal quantity of Notes validly tendered and never validly withdrawn at or previous to the Early Tender Deadline (the “Early Tender Notes”), in addition to the % of the combination principal quantity of Notes excellent constituting Early Tender Notes, is about forth within the desk beneath.

Collection

of

Notes

CUSIP

Numbers(1)

Mixture

Principal

Quantity

Excellent

Mixture

Principal

Quantity of

Early Tender

Notes

P.c of

Excellent

Principal

Quantity

Tendered

Tender

Consideration

Early Tender

Premium

Whole

Consideration (2)

5.250%

Senior Notes

due 2025

12652 AAA1 /

U1264 AAA1

$1,700,000,000

$889,277,000

52.31%

$875,937,845

$26,678,310

$902,616,155

(1)

No illustration is made as to the correctness or accuracy of the CUSIP numbers listed on this desk or printed on the Notes. They’re supplied solely for the comfort of holders of Notes.

(2)

Contains the early tender premium for the Early Tender Notes accepted for buy.

Along with the Whole Tender Supply Consideration, accrued and unpaid curiosity from the final curiosity fee date as much as, however not together with the date on which the Whole Tender Supply Consideration might be paid, which is predicted to happen on September 24, 2021 (the “Early Settlement Date”), might be paid by the Firm in similar day funds on the Early Settlement Date on all validly tendered Notes accepted for buy within the Tender Supply. The Tender Supply will expire at 12:00 a.m. midnight, New York Metropolis time, on October 7, 2021, except prolonged (such time and date, as the identical could also be prolonged, the “Expiration Time”). No tenders submitted after the Expiration Time might be legitimate.  Topic to the phrases and situations of the Tender Supply, holders of the Early Tender Notes will obtain the Whole Tender Supply Consideration, which incorporates the Early Tender Cost for the Notes of $1,015.00 per $1,000 principal quantity of Notes tendered. Holders who validly tender their Notes after the Early Tender Deadline and at or previous to the Expiration Time and whose Notes are accepted for buy might be eligible to obtain solely the Late Tender Supply Consideration. Accrued and unpaid curiosity might be paid on all Notes validly tendered and accepted for buy from the final curiosity fee date as much as, however not together with, the relevant settlement date.

Topic to the satisfaction or waiver of the situations to the tender provide, the Firm expects to just accept for buy any remaining Notes which were validly tendered and never validly withdrawn after the Early Tender Deadline and at or previous to the Expiration Time promptly following the Expiration Time on the Last Settlement Date (as outlined within the Tender Supply Paperwork), which is predicted to happen promptly following the Expiration Time.

The Issuers’ obligation to just accept for buy, and to pay for, Notes validly tendered and never validly withdrawn pursuant to the Tender Supply is topic to the satisfaction or waiver of sure situations, together with, amongst others, the situation that Caesars Leisure, Inc. has accomplished a debt financing on phrases and situations passable to it yielding internet money proceeds of at the least $1.0 billion (the “Financing Situation”).The whole phrases and situations of the Tender Supply are set forth within the Supply  Tender Supply Paperwork. Holders of Notes are urged to learn the Tender Supply Paperwork fastidiously.

As a result of, following the Early Settlement Date, the Tender Supply was not absolutely subscribed, the Issuers intend to subject a discover of redemption to redeem $1.2 billion of the Notes much less the quantity of Notes tendered on or about October 15, 2021 (the “Redemption Date”) on the redemption worth, expressed as a share of principal quantity, of 101.313%, plus accrued and unpaid curiosity thereon to the Redemption Date. Nonetheless, neither this press launch nor the Tender Supply Paperwork constitutes a discover of redemption of the Notes or an obligation to subject a discover of redemption of the Notes.

The Issuers have retained Credit score Suisse Securities (USA) LLC to behave as seller supervisor in reference to the Tender Supply. Questions in regards to the Tender Supply could also be directed to Credit score Suisse Securities (USA) LLC at (800) 820-1653 (toll free) or (212) 538-2147 (acquire). Copies of the Tender Supply Paperwork and different associated paperwork could also be obtained from D.F. King & Co., Inc., the tender agent and data agent for the Tender Supply, at (866) 207-3626 (toll free) or (212) 269-5550 (acquire) or electronic mail [email protected].

The Tender Supply is being made solely via the Tender Supply Paperwork. Not at all shall this press launch represent a suggestion to buy or the solicitation of a suggestion to promote the Notes or some other securities of the Issuers or some other particular person, nor shall there be any provide or sale of any Notes or different securities in any state or jurisdiction through which such a suggestion, solicitation or sale can be illegal previous to registration or qualification beneath the securities legal guidelines of any such jurisdiction. As well as, nothing contained herein constitutes a discover of redemption of the Notes. No advice is made as as to if holders of the Notes ought to tender their Notes.

About Caesars Leisure, Inc.

Caesars Leisure, Inc. is the most important casino-entertainment firm within the US and one of many world’s most diversified casino-entertainment suppliers. Since its starting in Reno, NV, in 1937, Caesars Leisure, Inc. has grown via improvement of latest resorts, expansions and acquisitions. Caesars Leisure, Inc.’s resorts function primarily beneath the Caesars®, Harrah’s®, Horseshoe®, and Eldorado® model names. Caesars Leisure, Inc. provides diversified gaming, leisure and hospitality facilities, one-of-a-kind locations, and a full suite of cell and on-line gaming and sports activities betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the corporate focuses on constructing worth with its company via a novel mixture of impeccable service, operational excellence and expertise management. Caesars is dedicated to its staff, suppliers, communities and the atmosphere via its PEOPLE PLANET PLAY framework. Know When To Cease Earlier than You Begin.® Playing Drawback? Name 1-800-522-4700.

Ahead-Trying Statements

This press launch could embody info that would represent forward-looking statements throughout the which means of the Personal Securities Litigation Reform Act of 1995. These statements contain threat and uncertainties. The Firm undertakes no obligation to revise or replace any forward-looking statements, or to make some other forward-looking statements, whether or not on account of new info, future occasions or in any other case, besides as in any other case required by legislation.

Disclaimer

This announcement have to be learn together with the Tender Supply Paperwork. This announcement and the Tender Supply Paperwork (together with the paperwork included by reference therein) comprise vital info which have to be learn fastidiously earlier than any determination is made with respect to the Supply. If any holder of Notes is in any doubt as to the motion it ought to take, it is strongly recommended to hunt its personal authorized, tax, accounting and monetary recommendation, together with as to any tax penalties, instantly from its stockbroker, financial institution supervisor, legal professional, accountant or different unbiased monetary or authorized adviser. Any particular person or firm whose Notes are held on its behalf by a dealer, seller, financial institution, custodian, belief firm or different nominee or middleman should contact such entity if it needs to take part within the Supply. Not one of the Firm, the Issuers, the seller supervisor, the tender and data agent, or any one that controls or is a director, officer, worker or agent of such individuals, or any affiliate of such individuals, makes any advice as as to if holders of Notes ought to take part within the Supply.

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SOURCE Caesars Leisure, Inc.





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