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Harrah's subsidiary to seek $750 million under debt plan

LAS VEGAS, Nevada -- Harrah's Entertainment Inc. today announced its subsidiary Harrah's Operating Co. plans to seek $750 million of new term loans to refinance or retire debt and to improve liquidity.

Up to $175 million of the proceeds may be used to buy back debt under four issues coming due in 2010 and 2011.

Las Vegas-based Harrah's announced cash tender offers for those debt securities today. The offers expire Oct. 21.

Copyright © Las Vegas Sun. Inc. Republished with permission.

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