High rollers are heading to New York City next week. 
 
That’s where Harrah’s is launching the sale of loans backing its $17 billion buyout — and lead arranger Bank of America is expecting so much action at the lenders’ meeting that, according to one amused lender, it even asked for an “RSVP” in the invitation. 
 
Lenders’ meetings aren’t usually so precious. After all, buyside shop analysts are normally the only ones trying to get in.

But with the credit crunch sidelining the leveraged loan market, banks have been saddled with billions of the risky loans — forcing write-downs and grinding buyouts to a near halt. So a lot of people — private equity folks, shareholders or even, say, journalists — may want to sit in on the Harrah’s offering, which is one of the first large LBO loans to be marketed this year, with a total deal size of $27.8 billion including debt.  
 
The last time a lenders’ meeting became such a spectacle was with loans backing to the First Data buyout in September. But with credit markets now in much worse shape and bankers still stuck with a $150 billion leveraged loan pipeline, Harrah’s could get even more attention. Or so BofA seems to think. 

The meeting is scheduled for Tuesday morning at the Hilton in Rockefeller Center, according a lender who made the cut. But don’t show up without an RSVP.

(Image credit: www.harrahs.com)