By Paul A. Harris
Portland, Ore., June 30 – Everi Holdings Inc. priced a $400 million issue of eight-year senior notes (B3/B/BB-) at par to yield 5% on Wednesday, according to market sources.
The yield printed 12.5 basis points through official talk in the 5¼% area. Initial guidance was 5¼% to 5½%.
Jefferies LLC was at the left of a syndicate of bookrunners that also included Barclays, Stifel Nicolaus & Co. Inc. and Truist Securities Inc.
Proceeds plus a $600 million term loan will be used to refinance debt. The company intends to refinance its $35 million revolver due 2022 and $820 million term loan due 2024, prepay in full its $125 million incremental term loan due 2024, and redeem its $285.4 million of notes due 2025.
Everi is a Las Vegas-based provider of land-based and digital casino gaming content and products, financial technology and player loyalty solutions.
Issuer: | Everi Holdings Inc.
|
Amount: | $400 million
|
Maturity: | July 15, 2029
|
Securities: | Senior notes
|
Bookrunners: | Jefferies LLC, Barclays, Stifel Nicolaus & Co. Inc. and Truist Securities Inc.
|
Coupon: | 5%
|
Price: | Par
|
Yield: | 5%
|
Call protection: | Three years
|
Trade date: | June 30
|
Settlement date: | July 15
|
Ratings: | Moody's: B3
|
| S&P: B
|
| Fitch: BB-
|
Distribution: | Rule 144A and Regulation S for life
|
Price talk: | 5¼% area
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.