Deals
Caesars Woos Bondholders With $1.2 Billion Bankruptcy Boost
- Casino company says new offer must be accepted by Sept. 23
- Previous offer totaled about $4 billion in cash, debt, shares
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Caesars Entertainment Corp. offered to boost its contribution by more than $1.2 billion to win bondholder support for the reorganization of its bankrupt operating unit.
Should holdout bondholders, or other creditors who have previously supported the company, refuse to sign on by midnight Sept. 23, the Las Vegas-based gambling giant may abandon its plan to sponsor a reorganization, Thomas Kreller, a lawyer for Caesars, said Wednesday in Chicago federal court.