AGS sets talk for repricing of $510 million term loan

New York, Sept. 25 – AGS (AP Gaming I LLC) announced details of the repricing of its $510 million first-lien term loan repricing following a lender call on Tuesday, according to a market source.

The repricing will cut the coupon by 75 basis points and will have a step down on a rating upgrade.

The repriced loan is offered at par and retains the 1% Libor floor.

Soft call protection at 101 will be reset for six months, and the covenants will not be changed.

Commitments are due by 11 a.m. ET on Oct. 2.

Jefferies LLC is the lead bank.

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

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