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Debt (Tables)
6 Months Ended
Jun. 30, 2014
Debt Disclosure [Abstract]  
Outstanding Debt
The following table presents our outstanding debt from a consolidated viewpoint. Accordingly, debt owed between consolidated entities is eliminated, and thus, is not considered outstanding. Therefore, it is excluded from the table below. See footnotes 3 and 5 to this table for greater detail.
Detail of Debt (Dollars in millions)
 
Final
Maturity
 
Rate(s)
 
Face Value
 
Book Value
 
Book Value
  
 
 
 
June 30, 2014
 
December 31, 2013
CEOC Debt
 
 
 
 
 
 
 
 
 
 
Credit Facilities(10)
 
 
 
 
 
 
 
 
 
 
Term Loans B1 - B3 (1)
 
2015
 
5.25%
 
$
29.0

 
$
29.0

 
$
29.0

Term Loan B4
 
2016
 
9.50%
 
955.0

 
945.0

 
948.1

Term Loan B5
 
2017
 
4.40% - 6.50%
 
991.9

 
989.6

 
989.3

Term Loan B6 (2)
 
2017
 
5.40% - 7.50%
 
2,431.9

 
2,403.2

 
2,399.9

Term Loan B7 (2)
 
2017
 
9.75%
 
1,750.0

 
1,736.9

 

Secured Debt
 
 
 
 
 
 
 
 
 
 
Senior Secured Notes
 
2017
 
11.25%
 
2,095.0

 
2,069.8

 
2,066.4

Senior Secured Notes
 
2020
 
8.50%
 
1,250.0

 
1,250.0

 
1,250.0

Senior Secured Notes
 
2020
 
9.00%
 
3,000.0

 
2,957.3

 
2,954.5

Second-Priority Senior Secured Notes
 
2018
 
12.75%
 
750.0

 
744.5

 
743.9

Second-Priority Senior Secured Notes
 
2018
 
10.00%
 
4,502.1

 
2,513.7

 
2,433.2

Second-Priority Senior Secured Notes
 
2015
 
10.00%
 
189.9

 
169.8

 
187.7

Chester Downs Senior Secured Notes
 
2020
 
9.25%
 
330.0

 
330.0

 
330.0

Capitalized Lease Obligations
 
to 2017
 
various
 
14.6

 
14.6

 
14.7

Subsidiary-Guaranteed Debt (3)
 
 
 
 
 
 
 
 
 
 
Senior Notes
 
2016
 
10.75%
 
478.6

 
478.6

 
478.6

Senior PIK Toggle Notes
 
2018
 
10.75%/11.50%
 
11.5

 
11.5

 
10.9

Unsecured Senior Debt
 
 
 
 
 
 
 
 
 
 
5.625% (4)
 
2015
 
5.625%
 
364.4

 
340.3

 
328.3

6.5%
 
2016
 
6.50%
 
248.7

 
219.2

 
212.6

5.75%
 
2017
 
5.75%
 
147.9

 
118.5

 
115.0

Floating Rate Contingent Convertible
Senior Notes
 
2024
 
0.24%
 

 

 
0.2

Other Unsecured Borrowings
 
 
 
 
 
 
 
 
 
 
Special Improvement District Bonds
 
2037
 
5.30%
 
46.9

 
46.9

 
48.1

Other
 
2016 - 2021
 
0.00% - 6.00%
 
37.0

 
37.0

 
39.3

Total CEOC Debt (5)
 
 
 
 
 
19,624.4

 
17,405.4

 
15,579.7

 
 
 
 
 
 
 
 
 
 
 
CERP Debt
 
 
 
 
 
 
 
 
 
 
Secured Debt
 
 
 
 
 
 
 
 
 
 
     CERP Senior Secured Loan (6)
 
2020
 
7.00%
 
2,487.5

 
2,440.3

 
2,449.7

     CERP Revolver (6)
 
2018
 
8.25%
 
35.0

 
35.0

 

     CERP First Lien Notes (6)
 
2020
 
8.00%
 
1,000.0

 
994.0

 
993.7

     CERP Second Lien Notes (6)
 
2021
 
11.00%
 
1,150.0

 
1,141.2

 
1,140.8

     Capitalized Lease Obligations
 
to 2017
 
various
 
12.3

 
12.3

 
5.4

Other Unsecured Borrowings
 
 
 
 
 
 
 
 
 
 
     Other
 
2016
 
0.00% - 6.00%
 
17.7

 
17.7

 
21.3

Total CERP Debt
 
 
 
 
 
4,702.5

 
4,640.5

 
4,610.9

 
 
 
 
 
 
 
 
 
 
 
Detail of Debt (continued)
(Dollars in millions)
 
Final
Maturity
 
Rate(s)
 
Face Value
 
Book Value
 
Book Value
  
 
 
 
June 30, 2014
 
December 31, 2013
CGP LLC Debt (7)
 
 
 
 
 
 
 
 
 
 
Secured Debt
 
 
 
 
 
 
 
 
 
 
CGP Term Loan(9)

 
2021
 
6.25%
 
1,175.0

 
1,141.8

 

Second-Priority Senior Secured Notes (9)
 
2022
 
9.375%
 
675.0

 
660.1

 

PHW Las Vegas Senior Secured Loan
 

 
 

 

 
456.1

Baltimore Credit Facility
 
2020
 
8.25%
 
262.5

 
252.6

 
214.5

Bill's Gamblin' Hall & Saloon ("Bill's) Credit Facility(8)
 
2019
 
11.00%
 
185.0

 
180.0

 
179.8

Capitalized Lease Obligations
 
to 2016
 
various
 
4.7

 
4.7

 
2.1

Other Unsecured Borrowing
 
 
 
 
 
 
 
 
 
 
Other
 
2014 - 2018
 
0.00% - 6.00%
 
58.0

 
56.7

 
57.6

     Special Improvement District Bonds

 
2037
 
5.30%
 
14.5

 
14.5

 
14.8

Total CGP LLC Debt
 
 
 
 
 
2,374.7

 
2,310.4

 
924.9

 
 
 
 
 
 
 
 
 
 
 
Caesars Entertainment Other Unsecured Borrowing
 
2014
 
2.99%
 
1.5

 
1.5

 

 
 
 
 
 
 
 
 
 
 
 
Total Debt
 
 
 
 
 
26,703.1

 
24,357.8

 
21,115.5

Current Portion of Long-Term Debt
 
 
 
 
 
(148.3
)
 
(148.3
)
 
(197.1
)
Long-Term Debt
 
 
 
 
 
$
26,554.8

 
$
24,209.5

 
$
20,918.4

___________________
(1) 
These Term Loans were paid in full subsequent to June 30, 2014. See "Repayment of 2015 Maturities" section below.
(2) 
The Term B7 Loans have a springing maturity to 90 days prior to March 1, 2017, if more than $500.0 million of our Term B5 and Term B6 Loans remain outstanding on such date.
(3) 
Guaranteed by certain wholly owned subsidiaries of CEOC.
(4) 
$784.9 million of $791.8 million in face value of this Unsecured Senior Debt was paid subsequent to June 30, 2014. See "Repayment of 2015 Maturities" section below. Approximately $427.3 million in face value of the 5.625% Notes due 2015 was held by CGP LLC, accordingly it is not presented as outstanding in the table above as Unsecured Senior Debt.
(5) 
$1,146.8 million face value of debt issued by CEOC is held by other consolidated entities, substantially all of which is held by CGP LLC and $427.3 million was paid subsequent to June 30, 2014. See "Repayment of 2015 Maturities" section below. Accordingly, such debt is not considered outstanding in the above presentation. CEOC has an intercompany credit arrangement with CEC, the total outstanding amount of $260.4 million as of March 31, 2014 was repaid during the quarter ended June 30, 2014.
(6) 
Guaranteed by Caesars Entertainment Resort Properties and its subsidiaries.
(7) 
As of June 30, 2014 and December 31, 2013, under the CGP LLC debt structure, CIE has $39.8 million drawn under an arrangement with Caesars Entertainment. Accordingly, such debt is eliminated in consolidation.
(8) 
The property that secured this debt was sold to CGP LLC in May 2014. See Note 5, "Property Transaction between CEOC and CGP LLC and Related Financing."
(9) 
Guaranteed by an indirect subsidiary of Caesars Growth Partners, LLC and certain wholly owned subsidiaries of it.
(10) 
Guaranteed by Caesars Entertainment.