Affinity Gaming readies launch of $300 million term loan for Tuesday

By Sara Rosenberg

New York, June 1 – Affinity Gaming is scheduled to hold a bank meeting at 10 a.m. ET in New York on Tuesday to launch a $300 million seven-year first-lien term loan, according to a market source.

Credit Suisse Securities (USA) LLC, Macquarie Capital (USA) Inc. and Fifth Third are the leads on the deal.

The term loan is talked at Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 99, the source said.

Included in the term loan is 101 soft call protection for six months and a first-lien secured leverage covenant.

Commitments are due on June 17, the source added.

Proceeds will be used to refinance existing debt.

Affinity Gaming is a Las Vegas-based casino owner and operator.

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