Harrah's Announces Adjustment of Conversion Price for Senior Notes
LAS VEGAS, NV, February 15, 2007. Harrah's Operating Company, Inc., a subsidiary of Harrah's Entertainment, Inc. (NYSE:HET), announced that the conversion price under its outstanding $375 million Floating Rate Contingent Convertible Senior Notes due 2024 has been adjusted to $66.16 from $66.47, subject to further adjustment as provided for in the governing indenture.
The adjustment has been made pursuant to the terms of the indenture as a result of the cash dividend of $0.40 per share of Harrah's Entertainment common stock that was declared on January 31, 2007, and which will be payable February 21, 2007, to Harrah's Entertainment stockholders of record as of the close of business on February 12, 2007.
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