Global Cash starts roadshow for $700 million two-part notes backing Multimedia Games acquisition

By Paul A. Harris

Portland, Ore., Dec. 5 – Global Cash Access Holdings Inc. began a roadshow on Friday for a $700 million two-part offering of high-yield notes, according to a market source.

The Rule 144A and Regulation S for life deal is slated to price late in the week ahead.

The offering features a $350 million tranche of senior secured notes due March 15, 2021 (B1/B+) and a $350 million tranche of senior unsecured notes due Jan. 15, 2022 (Caa1/CCC+).

The notes in both tranches come with three years of call protection.

BofA Merrill Lynch and Deutsche Bank Securities Inc. are the joint bookrunners. CIT Bank is the co-manager.

Proceeds will be used to help fund the acquisition of Austin, Texas-based gaming technology company Multimedia Games Holding Co. Inc. and to repay bank debt.

Global Cash is a Las Vegas-based provider of fully integrated cash access solutions and related services to the gaming industry.

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