Caesars Entertainment seeks to raise $300 million in new debt

Caesars Entertainment Corp. announced Wednesday it plans to issue $300 million in new debt at a 9 percent rate that would mature in 2020.

The notes would be issued under the same agreements for debt the company issued in August.

Caesars, which has almost $20 billion in long term debt, said it will use proceeds from the new debt offering to pay related fees and expenses and for general corporate purposes.

Up to $150 million of the proceeds would also be used to retire existing debt.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.