Scientific Games seeks amendment to reprice term C, release some collateral

By Sara Rosenberg

New York, June 22 - Scientific Games Corp. went out to lenders on Tuesday with an amendment proposal that would lower pricing on the approximately $460 million term loan C to Libor plus 250 basis points from Libor plus 275 basis points and would release some collateral, according to a market source.

Furthermore, included in the pricing change is a stepdown to Libor plus 225 basis points when senior leverage is below 1.75x.

Bear Stearns is the sole lead bank on the deal.

Recommitments from lenders are due June 29.

Scientific Games is a New York provider of services, systems and products to both the instant ticket lottery industry and the pari-mutuel wagering industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.