AGS launches $65 million incremental first-lien term loan at 99.5 OID

By Sara Rosenberg

New York, Nov. 29 – AGS (AP Gaming I LLC) launched on its call on Wednesday a $65 million incremental senior secured first-lien term loan due Feb. 15, 2024 that is talked at Libor plus 550 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The loan has a first-lien net leverage covenant.

Jefferies LLC and Macquarie Capital (USA) Inc. are the bookrunners on the deal.

Commitments are due at noon ET on Tuesday, the source said.

Proceeds will be used to fund an acquisition and for general corporate purposes.

AGS is a Las Vegas-based manufacturer and operator of gaming machines.

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