Scientific Games amends loan, revising pricing and covenants

By Sara Rosenberg

New York, April 2 - Scientific Games Corp. amended its credit facility, increasing pricing and modifying covenants, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Pricing on the facility was raised by 25 basis points across the entire grid so that it can now range from Libor plus 200 bps to 300 bps based on leverage. Currently, pricing is set at Libor plus 300 bps.

The amendment also allows for the add back of certain charges and costs to consolidated EBITDA for purposes of calculating the consolidated leverage ratio and the consolidated senior debt ratio.

The amendment was completed on March 27, but was effective on March 30.

JPMorgan is the administrative agent on the deal.

Scientific Games is a New York-based supplier of technology-based products, systems and services to gaming markets.

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