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Stock Market & Financial Investment News

News Breaks
August 12, 2014
11:23 EDTCZRCaesar's secures consent to amend indentures for 2016, 2017 notes
Caesars Entertainment Corporation (CZR) and Caesars Entertainment Operating Co. announced a transaction to purchase and retire $238M of CEOC's outstanding 2016 and 2017 notes held by third parties, with such notes representing 51% of each such class not held by affiliates of CEC. CEC has also agreed to contribute to CEOC for retirement $393M of CEOC 2016 and 2017 notes currently held by CEC subsidiaries. As part of the transaction, CEOC received agreement for consents to amendments of certain terms of the notes and the indentures governing the notes, including a consent to the release of CEC's debt guarantee. The proposed transaction, which exemplifies CEOC's constructive and ongoing dialogue with creditors, will reduce CEOC's debt by $548M and cut interest expense by $34M annually. "The transaction we are announcing today is the latest in a series of steps intended to deleverage CEOC and position it for a potential stock listing. The transaction will reduce CEOC's leverage and interest payments," said Gary Loveman, Chairman and CEO of Caesars Entertainment and Chairman of CEOC.
News For CZR From The Last 14 Days
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November 26, 2014
09:35 EDTCZRNevada reports October statewide gaming win down 4.26% to $913.64M
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November 25, 2014
15:46 EDTCZRCaesar's, lenders agree to convert unit into real estate firm, Bloomberg says
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November 24, 2014
10:49 EDTCZRCaesar's unit receives default notice from trustee for 1st lien note holders
Caesar's disclosed in a filing earlier, that On November 21, CEOC received a Notice of Default from UMB Bank, National Association, as successor trustee to U.S. Bank National Association , under the Indenture, dated as of February 14, 2012, by and among CEOC, CEC and the Trustee, relating to CEOCís outstanding first-priority senior secured notes issued under the First Lien Notes Indenture. CEOC is party to an amended and restated collateral agreement, dated as of June 10, 2009 by and among CEOC, the subsidiaries of CEOC party thereto and Credit Suisse AG, Cayman Islands Branch, as successor collateral agent to Bank of America, N.A. The Trusteeís claims in the Notice are substantially similar to the claims made by the noteholders and the trustee of CEOCís second-priority senior secured notes issued under the Indenture, dated April 15, 2009, by and among CEOC, CEC and Wilmington Savings Fund Society, FSB, as successor trustee, and under the Indenture, dated December 24, 2008, among CEOC, CEC and Delaware Trust Company, as successor trustee, as previously disclosed in CECís and CEOCís Current Reports on Form 8-K dated June 6 and October 17. There is approximately $1.25B of Notes outstanding under the First Lien Notes Indenture. Under certain circumstances, the holders of at least 30% in principal amount of outstanding Notes may accelerate CEOCís obligations under the Notes upon an actual event of default under the First Lien Notes Indenture and may, after providing the Trustee reasonable security or indemnity satisfactory to the Trustee against any loss, liability or expense, request the Trustee to pursue remedies, which are subject to the terms of the agreements governing the Notes, including applicable intercreditor agreements. With respect to the Alleged Transaction Defaults, as is the case with respect to the Prior Second Lien Claims, CEOC does not believe that a default or an event of default has occurred under the First Lien Notes Indenture and, furthermore, CEOC believes that such claims are meritless.
November 20, 2014
14:54 EDTCZRWynn Resorts probed by several agencies on money laundering controls, WSJ says
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13:40 EDTCZRCaesar's slips to session lows, levels to watch
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09:21 EDTCZROn The Fly: Pre-market Movers
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November 19, 2014
18:22 EDTCZROn The Fly: After Hours Movers
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17:32 EDTCZRCaesar's made REIT proposal on Oct. 28, says proposal 'outdated'
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17:05 EDTCZRCaesar's up 17.3% after Bloomberg report of turning operating unit into REIT
17:03 EDTCZRCaesar's to turn operating unit into REIT, Bloomberg reports
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November 18, 2014
10:20 EDTCZROptions with decreasing implied volatility
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November 17, 2014
12:03 EDTCZROptions with decreasing implied volatility
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05:54 EDTCZRStocks with implied volatility movement; BHI CZR
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November 14, 2014
13:40 EDTCZRCaesar's says 'substantial doubt' exists on CEOC continuing as going concern
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November 13, 2014
14:05 EDTCZRNew Jersey reports Atlantic City gaming win down 4.4% to $207.23M
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November 12, 2014
10:34 EDTCZROptions with decreasing implied volatility
Options with decreasing implied volatility: RMTI RPRX KATE PNK CZR KING TSLA UBNT LOCO GNRC
10:07 EDTCZRHigh option volume stocks: DDS FOSL ZTS CMA CLVS CZR
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