Fertitta launches $3.24 billion term loan at SOFR plus 375 bps

By Sara Rosenberg

New York, Feb. 28 – Fertitta Entertainment LLC was scheduled to hold a lender call at 3 p.m. ET on Wednesday to launch a $3,242,250,000 first-lien term loan due Jan. 27, 2029 that is talked at SOFR plus 375 basis points with a 0.5% floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Jefferies LLC is the bookrunner on the deal.

Proceeds will be used to reprice the company’s existing first-lien term loan down from SOFR plus 400 bps with a 0.5% floor.

Consents are due at 3 p.m. ET on March 6, the source added.

Fertitta Entertainment is a diversified gaming, restaurant, hospitality and entertainment company.

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