Aristocrat launches $1.3 billion term loan at Libor plus 325-350 bps

By Sara Rosenberg

New York, Sept. 10 – Aristocrat Leisure Ltd. launched on Wednesday its $1.3 billion seven-year term loan B with price talk of Libor plus 325 basis points to 350 bps with a 0.75% Libor floor and an original issue discount of 99˝, according to a market source.

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

The company’s credit facility (Ba2) also includes a A$100 million revolver.

UBS Securities LLC, Bank of America Merrill Lynch, Nomura and Citigroup Global Markets Inc. are the bookrunners on the deal.

Commitments are due on Sept. 24, the source added.

Proceeds will be used to fund the acquisition of Video Gaming Technologies Inc. for about $1,283,000,000 in cash, subject to certain adjustments and regulatory approvals.

Aristocrat Leisure is an Australia-based provider of gaming services. Video Gaming Technologies is a Franklin, Tenn.-based designer, manufacturer, distributor and operator of gaming player terminals and centrally determined gaming systems.

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