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BRIEF-Caesars Entertainment's unit enters into incremental assumption agreement
April 28, 2017 / 8:56 PM / 3 months ago

BRIEF-Caesars Entertainment's unit enters into incremental assumption agreement

1 Min Read

April 28 (Reuters) - Caesars Entertainment Corp-

* Caesars Entertainment-co's unit entered into an incremental assumption agreement and amendment no. 1 that amends first lien credit agreement, dated may 8, 2014

* Caesars Entertainment -among other things, amendment provides for increase of cgph's existing term loan facility by $175 million to about $1.3 billion

* Caesars Entertainment- amendment provides proceeds of $175 million increase of term facility will be held in escrow until receipt of all required regulatory approvals

* Caesars Entertainment- amendment reduces interest rate margins applicable to term facility, unit's existing $150 million revolving credit facility-sec filing

* Caesars Entertainment- if approvals not obtained by july 26, 2017, $175 million of proceeds to be repaid,cromwell's property specific term loan remain outstanding Source text: (bit.ly/2pdGiox) Further company coverage:

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