Harrah's Amends Terms of Credit Facility

LAS VEGAS -- (PRESS RELEASE) -- Harrah's Operating Company, Inc., a subsidiary of Harrah's Entertainment, Inc. (NYSE:HET), said it agreed Tuesday, April 25, to amend the terms of its bank credit facilities.

The amendment lowers the interest spread on the $4 billion credit facility to LIBOR plus 62.5 basis points; previously the rate was LIBOR plus 87.5 basis points. The agreement also extended the maturity date of the facility to April 25, 2011.

Banc of America Securities LLC and Wells Fargo Bank, National Association were joint lead arrangers and joint book managers.

Deutsche Bank Trust Company Americas acted as syndication agent. Citicorp USA, Inc., JPMorgan Chase Bank, Wells Fargo Bank, N.A., and The Royal Bank of Scotland, PLC, acted as co-documentation agents. Bank of America, N.A., acted as administrative agent.