Everi Payments launches $814 million term loan at Libor plus 300 bps

By Sara Rosenberg

New York, May 8 – Everi Payments launched on Tuesday an $814 million term loan that is talked at Libor plus 300 basis points with a 1% Libor floor and a par issue price, according to a market source.

The loan has 101 soft call protection for six months, the source said.

Jefferies LLC is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 350 bps with a 1% Libor floor.

The existing maximum consolidated leverage ratio covenant under the term loan will stay in place.

Commitments/consents are due at noon ET on Friday, the source added.

Everi Payments is a Las Vegas-based provider of video and mechanical reel gaming content and solutions, integrated gaming payment solutions and compliance and efficiency software solutions.

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