Amaya Gaming launches $400 million-equivalent add-on loan at 99.5 OID

By Sara Rosenberg

New York, July 30 – Amaya Gaming Group Inc. launched on Thursday its $400 million-equivalent add-on U.S. and euro first-lien covenant-light term loan (B1/BB-) due August 2021 with original issue discount talk of 99.5, according to a market source.

The add-on term loan has 101 soft call protection for six months, the source said.

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.

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

Commitments are due at noon ET on Aug. 6.

Proceeds will be used with about $195 million in cash to repay $575 million of the company’s existing $800 million second-lien term loan.

Along with the add-on, the company is seeking an amendment to its existing first-lien term loan, for which lenders are offered a 25 bps consent fee.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.