Great Canadian discloses talk on C$650 million equivalent U.S. term B

By Sara Rosenberg

New York, June 8 – Great Canadian Gaming Corp. launched on Tuesday its C$650 million equivalent U.S. dollar covenant-lite term loan B (B2/B+/BB+) due Nov. 1, 2026 with price talk of Libor plus 450 basis points to 475 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months.

Deutsche Bank Securities Inc., Barclays, TD Securities (USA) LLC, Macquarie Capital (USA) Inc., BMO Capital Markets and Citizens Bank are the bookrunners on the deal. Deutsche is the administrative agent.

Commitments are due at noon ET on June 17.

Proceeds will be used to help fund the buyout of the company by Apollo Global Management Inc. for C$45.00 in cash per share.

Great Canadian Gaming is an Ontario-based gaming, entertainment and hospitality company.

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