Scientific Games flexes $3.3 billion term B-4 to Libor plus 325 bps

By Sara Rosenberg

New York, July 28 – Scientific Games Corp. reduced pricing on its $3,283,000,000 term loan B-4 (Ba3/B+) due August 2024 to Libor plus 325 basis points from Libor plus 350 bps, according to a market source.

The term loan still has a 0% Libor floor and an original issue discount of 99.5.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Fifth Third Bank, Goldman Sachs Bank USA, Macquarie Capital (USA) Inc. and PNC are the leads on the deal.

Recommitments were scheduled to be due at 4 p.m. ET on Friday, the source added.

Proceeds will be used to refinance/extend an existing term loan B-3 due October 2021.

Scientific Games is a New York-based developer of technology-based products and services and associated content for gaming and lottery markets.

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