US casino operator Caesars Entertainment Operating Company (CEOC) has hit back against a minority group of bondholders who issued a notice of default last week after objecting to moves taken by the company to alleviate its debt.
In a filing with the US Securities and Exchange Commission, Caesars said that the bondholders purported to own at least 30 per cent of the company’s outstanding 10.0 per cent second-priority senior secured notes due 2018, which were issued [...]
