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Affinity Gaming launches $317 million term B at Libor plus 300 bps
By Sara Rosenberg
New York, Feb. 14 – Affinity Gaming held a lender call on Wednesday to launch a $317 million term loan B that is talked at Libor plus 300 basis points with a 1% 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.
Citizens Bank, Credit Suisse Securities (USA) LLC and Fifth Third are the leads on the deal.
Commitments are due on Feb. 21, the source added.
Proceeds will be used to reprice an existing term loan B down from Libor plus 350 bps with a 1% Libor floor.
Affinity Gaming is a Las Vegas-based diversified casino gaming company.
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