Everi debt refinancing to include $400 million notes, $600 million term loan launched Tuesday

By Paul A. Harris

Portland, Ore., June 22 – Everi Holdings Inc. is in the leverage markets with a debt refinancing deal that is expected to include $400 million of new senior notes, according to a market source.

A concurrent $600 million seven-year senior secured first-lien term loan launched on Tuesday via joint bookrunners Jefferies, Barclays, Stifel and Truist, with commitments due July 1. The credit facilities (Ba2/B+/BB+) also include a $125 million five-year revolver.

Proceeds will be used to refinance company's $35 million revolver due 2022 and $820 million term loan due 2024, prepay in full its $125 million incremental term loan due 2024, and redeem $285.4 million of its 7½% senior notes due 2025.

Everi is a Las Vegas-based provider of land-based and digital casino gaming content and products, financial technology and player loyalty solutions.

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