Inspired Entertainment to repay senior secured term loans

By Marisa Wong

Los Angeles, May 13 – Inspired Entertainment, Inc. said it intends to repay its existing £145.8 million senior secured term loan facility and €93.1 million senior secured term loan facility using proceeds from an offering of senior secured notes due 2026.

The company priced £235 million of the five-year notes par to yield 7 7/8%, according to a press release.

The company also used proceeds from the new notes to pay fees and expenses incurred in connection with the refinancing and for general corporate purposes, including to close out derivative contracts entered into in connection with the existing term loan facilities.

As part of the refinancing, the company will also be putting into place a new 4.5-year £20 million super priority senior secured revolving credit facility.

Inspired is a New York-based provider of technology products and services to lottery, betting and gaming operators.

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