By Lisa Kerner
Charlotte, N.C., June 3 – AP Gaming Holdco, Inc. issued $115 million of 11¼% senior secured PIK notes due 2021 at an issue price of 97 to Deutsche Bank AG, London Branch, on May 29.
Interest is payable in cash, in kind or partially in cash and partially in kind.
Proceeds will be used to finance, in part, the acquisition of Cadillac Jack, Inc. and to pay fees and related expenses.
The notes will not be registered under the Securities Act and may not be offered or sold in the United States absent such registration or an exemption from the registration requirements of the Securities Act. They may be resold under Rule 144A and Regulation S.
AP Gaming designs and manufactures gaming products for the casino floor. It is based in Las Vegas.
| Issuer: | AP Gaming Holdco, Inc.
|
| Issue: | Senior secured PIK notes
|
| Amount: | $115 million
|
| Proceeds: | $111.55 million
|
| Maturity: | May 28, 2021
|
| Coupon: | 11¼%
|
| Price: | 97
|
| Call: | Make-whole call at Treasuries + 50 bps for first year, then at accreted principal amount
|
| Purchaser: | Deutsche Bank AG, London Branch
|
| Settlement date: | May 29
|
© 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.
