Caesars Bonds Fall Three Straight Days to Lose 4.5 Cents on Week
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Caesars Entertainment Corp. bonds fell for a third consecutive day, losing 4.5 cents on the dollar this week as a junk-bond benchmark declined by the most since June.
The largest U.S. casino owner’s $3.3 billion of 10 percent second-lien notes due December 2018 dropped 2 cents to 64 cents at 11:20 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Regulatory Authority. The securities yielded 20.5 percent.