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25

Caesars Reorganization Back on Track After Lenders Reach Accord

By Tony Seruga

Creditors of Caesars Entertainment Operating Co. resolved a standoff that had threatened to scuttle a plan to bring the casino giant out of bankruptcy.

Senior lenders to the insolvent company dropped their objection to the terms of the plan after Caesars filed revisions on Friday in Chicago federal court.

The lenders had been demanding changes to documents governing $2 billion in new debt that Las Vegas-based Caesars would issue to the group as part of its reorganization. Senior bondholders had opposed those changes, people familiar with the dispute said…

Caesars Reorganization Back on Track After Lenders Reach Accord

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