RLPC-Harrah's begins offering $3 bln term loan

NEW YORK Jan 15 (Reuters) - Casino operator Harrah's EntertainmentHET.N on Tuesday began offering $3 billion of a $7.25 billion term loan, sources told Reuters Loan Pricing Corp.

The loan is being offered at a discount of 96.5 cents on the dollar. Harrah's is raising money to help fund its buyout by Apollo Global Management and Texas Pacific Group, who agreed to buy the casino operator in December 2006 for $27.8 billion, including $10.7 billion of assumed debt. (Reporting by Caleb Frazier and Faris Khan; editing by Dena Aubin)