Harrah's new notes expected to yield about 12 pct-IFR
NEW YORK, May 27 (Reuters) - Harrah's Operating Co's new $1 billion note issue is expected to yield about 12 percent, IFR, a Thomson Reuters service, said on Wednesday.
The eight-year senior secured notes are expected to be priced with a discount of about 3 to 4 percentage points, according to IFR.
Banc of America Securities, Citigroup and JPMorgan are joint bookrunning manager on the sale, IFR said. Proceeds will be used to retire some of Harrah's existing term loan and revolving credit debt and for general corporate purposes. (Reporting by Dena Aubin; Editing by James Dalgleish)
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