Caesars Entertainment (CZR), CEOC Says Most of Major Creditors Support Term Sheet
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Caesars Entertainment (CZR) Reaches Agreement with Major CEOC Creditor Groups
September 27, 2016 6:35 AM EDTCaesars Entertainment Corporation (NASDAQ: CZR) and Caesars Entertainment Operating Company, Inc. ("CEOC") and its Chapter 11 debtor subsidiaries today announced that they have received confirmation from representatives of CEOC's major creditor groups of those groups' support for a term sheet that describes the key economic terms of a proposed consensual chapter 11 plan for the Debtors. Based on discussions with these representatives, Caesars Entertainment and CEOC are optimistic that the support received for the proposed consensual plan will allow CEOC to obtain the required creditor votes to confirm the plan. Confirmation of the plan would facilitate a... More
Caesars Entertainment (CZR) volatility at 137 into reaching restructuring deal
September 27, 2016 6:03 AM EDTCaesars Entertainment (NASDAQ: CZR) and representatives of its largest groups of creditors have struck a deal to fund a reorganization of the casino's bankrupt operating unit. The new plan boosts the recovery rate foe second lien creditors, including Appaloosa Management. Option implied volatility... More
