Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for American Gaming Systems Inc. > News item |
American Gaming plans $250 million in term loans for acquisition
By Sara Rosenberg
New York, April 1 – American Gaming Systems plans on getting $250 million in term loans to help fund its acquisition of Cadillac Jack Inc. from Amaya Inc., according to a market source.
Other funds for the transaction will come from $115 million in senior secured PIK notes, the source said.
Jefferies Finance LLC and Macquarie Capital (USA) Inc. are leading the debt.
Under the agreement, Cadillac Jack is being purchased for C$476 million, consisting of C$461 million in cash and a C$15 million 5% PIK note.
Closing is expected this year, subject to gaming regulatory and antitrust approvals and other customary closing conditions.
American Gaming is a Las Vegas-based manufacturer and operator of gaming machines. Cadillac Jack is a designer and supplier of electronic games and systems for the regulated global gaming industry.
© 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.