The note offering follows another debt-related development atHarrah's, which last month received unanimous consent from its CMBSlenders to amend the terms of approximately $5.5 billion in loans.According to Gary Loveman, chairman, CEO and president of Harrah'sEntertainment, that consent by the CMBS lenders will reduce thecompany's debt load by more than $4 billion, at the same timeimproving the company's liquidity position. "These revised termsfor the CMBS loans represent the culmination of nearly two years oftransformative activities that have allowed us to improve ourbalance sheet substantially," Loveman commented in a preparedstatement.

Harrah's Entertainment Inc. operates casinos under the Harrah's,Caesars and Horseshoe brand names. It also owns the London ClubsInternational family of casinos and the World Series of Poker. Thecompany describes itself as "the world's largest provider ofbranded casino entertainment."