Affinity Gaming launches $200 million term loan at Libor plus 450 bps

By Sara Rosenberg

New York, April 26 - Affinity Gaming LLC launched its $200 million seven-year term loan on Thursday with price talk of Libor plus 450 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for one year.

The $235 million credit facility also includes a $35 million five-year super-priority revolver.

Commitments are due on May 3, the source added.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Jefferies & Co. and Macquarie Capital are the lead banks on the deal.

Proceeds will be used to refinance debt obtained with the company's Chapter 11 proceedings.

Other funds for the refinancing will come from $200 million of eight-year notes.

Affinity Gaming is a Las Vegas-based gaming company.

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