UPDATE: Caesars Holdouts Said to Accept New Bankruptcy Framework - Bloomberg (CZR)

September 22, 2016 1:36 PM EDT

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(Updated - September 22, 2016 1:46 PM EDT)

Caesars bondholders have agreed on the framework of a deal to get its operating unit out of bankruptcy, but it still faces pushback from senior lenders, according to Bloomberg sources.

The report states that some more senior lenders who are being asked to fund the deal may refuse to accept the new terms before Friday's deadline. The second liens have agreed to support Caesars if the Las Vegas-based company can raise the money to fund the new offer, the people said.

Shares of Caesars Entertainment (Nasdaq: CZR) gained following the headline.



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