Aristocrat Leisure allocates $500 million incremental term loan B

By Sara Rosenberg

New York, May 14 – Aristocrat Leisure Ltd. allocated on Thursday its $500 million non-fungible incremental term loan B due October 2024, according to a market source.

Pricing on the term loan is Libor plus 375 basis points with a 1% Libor floor and it was sold at an original issue discount of 98.

The term loan has 101 soft call protection for one year.

During syndication, the term loan was upsized from $350 million, pricing was lowered from Libor plus 400 bps and the discount was tightened from 97.

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

Proceeds will be used for general corporate purposes.

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

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