Caesars Entertainment: To Be Sold

Caesars Entertainment, according to news reports, is being put up for sale. There are reportedly two potential suitors so far and the enterprise value is said to be $24bn. The only BDC with exposure to the company is BBDC, which only added its senior secured exposure in a Term Loan maturing in 2024 and paying LIBOR + 275 bps in the IIIQ 2018. If a deal does go through, this debt – which is Performing – is likely to be repaid before long.