Aristocrat ups loan to $500 million, flexes to Libor plus 375 bps

By Sara Rosenberg

New York, May 13 – Aristocrat Leisure Ltd. upsized its non-fungible incremental term loan to $500 million from $350 million and reduced pricing to Libor plus 375 basis points from Libor plus 400 bps, according to a market source.

Also, the original issue discount on the term loan was tightened to 98 from 97, the source said.

The term loan still has a 1% Libor floor and 101 soft call protection for one year.

UBS Investment Bank is the left lead bank on the deal.

Recommitments were scheduled to be due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used for general corporate purposes.

Aristocrat Leisure is a North Ryde, Australia-based provider of gaming solutions.

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