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 readies launch of $250 million term loan for Tuesday
By Sara Rosenberg
New York, May 8 – American Gaming Systems is set to hold a bank meeting on Tuesday to launch a $250 million incremental term loan, according to a market source.
Jefferies Finance LLC and Macquarie Capital (USA) Inc. are leading the debt.
Proceeds will be used to help fund the acquisition of Cadillac Jack Inc. from Amaya Inc. for C$476 million, consisting of C$461 million in cash and a C$15 million 5% PIK note.
Other funds for the transaction will come from $115 million in senior secured PIK notes.
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.