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Stumble$350 million in bonds to be sold
Monday, May 7, 2001 | 11 a.m.
Park Place Entertainment Corp. of Las Vegas today announced it has priced $350 million in bonds in a private placement.
The 10-year senior subordinated notes carry an effective interest rate of 8.25 percent. Park Place said it will use the proceeds to pay down existing debt on the company's credit facility.
The sale is expected to close May 14.
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