Stars Group to prepay additional $75 million on second-lien term loan

By Tali Rackner

Minneapolis, Sept. 15 – Stars Group Inc. said it will prepay an additional $75 million under its second-lien term loan using cash on the balance sheet and cash flow from operations, according to a filing with the Securities and Exchange Commission.

The prepayment will come without penalty.

Following prepayment, the company will have repaid $115 million of its second-lien debt thus far in 2017, resulting in a total reduction in annual interest expense of about $9.5 million, and reducing the principal balance of the loan to $95 million, the filing said.

Stars Group is a Toronto-based provider of technology-based products and services in the global gaming and interactive entertainment industries.

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