Aristocrat launches $1.07 billion term loan at Libor plus 300 bps

By Sara Rosenberg

New York, July 27 – Aristocrat Leisure Ltd. launched on its lender call on Wednesday a $1.07 billion first-lien term loan due October 2021 with price talk of Libor plus 300 basis points with a 0.75% Libor floor and a par issue price, according to a market source.

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

UBS Investment Bank and Goldman Sachs & Co. are the joint bookrunners on the deal.

Proceeds will be used to reprice the company’s existing first-lien term loan down from Libor plus 375 bps with a 1% Libor floor.

Commitments are due at noon ET on Aug. 3, the source added.

Aristocrat Leisure is a Sydney, Australia-based provider of gaming services.

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