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Published on 4/30/2002 in the Prospect News Bank Loan Daily.

Alliance Gaming obtains reduction in term loan interest rate

New York, April 30 - Alliance Gaming Corp. said it obtained a 50 basis point reduction in the interest rate on its term debt.

The Las Vegas, Nev. gaming machine and casino company said that effective April 29 it will pay Libor plus 325 basis points for term borrowings, for a current interest rate of just under 5.4%.

The term loan is via Banc of America Securities with Bank of America, NA as administrative agent for the syndicate.

Alliance Gaming added that the lower interest rate will contribute to an improved EBITDA to interest coverage ratio, which currently stands at 3.4 times on a trailing 12 month basis.

"This interest rate cut will help improve cash flow and is a reflection of the Company's improving financial strength," said Robert Saxton, senior vice president and chief financial officer of Alliance Gaming, in a news release.


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