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Affinity Gaming seeks amendment to permit second-lien debt, dividend
By Sara Rosenberg
New York, Sept. 26 – Affinity Gaming is out to lenders with an amendment to its credit agreement that would allow for the incurrence of $20 million of incremental second-lien debt and provide restricted payments capacity to pay a $75 million dividend, according to a market source.
The second-lien debt would be privately placed.
Lenders to the first-lien term loan are offered a 25 basis point consent fee, and second-lien lenders are offered a 50 bps fee, the source said.
In addition, the company would reset the hard call protection of 103 in year one, 102 in year two and 101 in year three on the second-lien loan.
Consents are due on Monday, the source added.
Affinity Gaming is a Las Vegas-based diversified casino gaming company.
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