Light & Wonder readies launch of $2.2 billion term loan for Monday

By Sara Rosenberg

New York, April 1 – Light & Wonder Inc. (Scientific Games Corp.) is scheduled to hold a lender call at 2 p.m. ET on Monday to launch a $2.2 billion seven-year term loan (//BBB-), according to a market source.

JPMorgan Chase Bank is the lead bank on the deal.

Price talk on the term loan is SOFR+CSA plus 325 basis points with a 0.5% floor and an original issue discount of 98.5 to 99, the source said.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to refinance existing debt.

Light & Wonder is a Las Vegas-based cross-platform games and entertainment company.

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