Amaya Gaming to launch $400 million-equivalent add-on loan on Thursday

By Sara Rosenberg

New York, July 29 – Amaya Gaming Group Inc. is set to hold a lender call at 11 a.m. ET on Thursday to launch a $400 million-equivalent add-on U.S. and euro first-lien covenant-light term loan due August 2021, according to a market source.

Deutsche Bank Securities Inc., Macquarie Capital (USA) Inc., Goldman Sachs Bank USA and Barclays are the bookrunners on the deal.

Pricing on the add-on is Libor plus 400 basis points on the U.S. piece and Euribor plus 425 bps on the euro piece, with both having a 1% floor. This pricing matches existing U.S. and euro first-lien term loan pricing.

Original issue discount talk on the add-on loan is not yet available.

Proceeds will be used with cash to partially repay the company’s existing second-lien term loan.

Along with the add-on, the company will seek an amendment to its existing first-lien term loan.

Commitments are due at noon ET on Aug. 6, the source added.

The borrowers are Amaya Holdings BV and Amaya (US) Co-Borrower LLC.

Amaya is a Pointe-Claire, Quebec-based provider of gaming products and services.

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