Deals
Caesars Debt Talks Said to Hit Impasse as Creditor Pact Expires
- Casino company seen separated from bondholders by $2 billion
- Senior lenders remain the only big groups still behind company
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Caesars Entertainment Corp. is at a $2 billion impasse with creditors it hopes will help keep it from sliding into bankruptcy alongside its operating unit, two people familiar with the negotiations said.
The casino company and a committee of junior bondholders haven’t had substantive talks since last month, said the people, who requested anonymity because the negotiations are private. The bondholders are asking for about $2 billion more than Caesars has offered, according to a report by Bloomberg Intelligence analysts Philip Brendel and Julia Winters.