AGS tightens issue price on $65 million incremental term loan to par

By Sara Rosenberg

New York, Dec. 1 – AGS (AP Gaming I LLC) revised the issue price on its $65 million incremental senior secured first-lien term loan (B) due Feb. 15, 2024 to par from 99.5, according to a market source.

Pricing on the loan is Libor plus 550 basis points with a 1% Libor floor.

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 Monday, accelerated from 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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