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Scientific Games downsizes term loan to $550 million
By Sara Rosenberg
New York, June 2 - Scientific Games Corp. reduced the size of its term loan to $550 million from $600 million, according to a news release.
The company's proposed revolver is still sized at $250 million.
Both tranches under the now $800 million senior secured credit facility (Baa3/BBB-), down from $850 million, are talked at Libor plus 250 basis points.
JPMorgan is the lead bank on the deal.
Proceeds from the credit facility, along with $200 million of senior subordinated notes, will be used to refinance the company's existing credit facility and for general corporate purposes.
The private offering of notes was announced on Monday.
Scientific Games is a New York supplier of technology-based products, systems and services to gaming markets.
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