TPG, Apollo offer cash for Harrah's debt (Dealscape

Harrah's Entertainment Inc. aims to lighten its balance sheet through a second debt exchange offering, as its sponsors attempt a cash tender offer for the struggling casino operator's debt.

Casinos have been badly hurt by the recession, and the Las Vegas operator is particularly vulnerable because of the huge amount of leverage it took on in its $31 billion buyout by Apollo Management LP and TPG Capital in January 2008. Together the sponsors invested $5.9 billion in equity.

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1,358 articles related to Apollo Management LP
329 articles related to TPG Capital
234 articles related to Harrah's Entertainment Inc.
82 company pages related to Casinos
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NOT A SUBSCRIBER? TPG, Apollo offer cash for Harrah's debt Posted on March 6, 2009 11:45 AM Harrah's Entertainment Inc. aims to lighten its balance sheet through a second debt exchange offering, as its sponsors attempt a cash tender offer for the struggling casino operator's debt. Casinos have been badly hurt by the recession, and the Las Vegas operator is particularly vulnerable because of the huge amount of leverage it took on in its $31 billion buyout by Apollo Management LP and TPG Capital in January 2008. Together the sponsors invested $5.9 billion in equity. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 1,358 articles related to Apollo Management LP 329 articles related to TPG Capital 234 articles related to Harrah's Entertainment Inc. 82 company pages related to Casinos 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Skadden Arps Pinnacle Foods Concho Resources Agrium Inc. Birds Eye Cantor Fitzgerald Credit Suisse Windstream Corp. Goldman Sachs		EXISTING USERS Username Password Forget your password? Missing a product?

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