Affinity Gaming pulls loans; SpecialtyCare, Navex, Women’s Care updated terms emerge

By Sara Rosenberg

New York, Aug. 21 – Affinity Gaming decided to withdraw its first- and second-lien term loans from the primary market, and final terms surfaced on deals for SpecialtyCare, Navex Global Inc. and Women’s Care Florida.

Affinity Gaming removed a $125 million incremental first-lien term B (B1/B) and $100 million second-lien term loan (Caa1/CCC+) from syndication, according to a market source.

Talk on the incremental first-lien term loan B was Libor plus 350 basis points with a 1% Libor floor, an original issue discount of 99.75 and 101 soft call protection for six months, and talk on the second-lien term loan was Libor plus 775 bps with a 1% Libor floor, a discount of 99 and call protection of 102 in year one and 101 in year two.

Earlier in syndication, pricing on the incremental first-lien term loan was increased from Libor plus 325 bps, and plans to reprice the company’s existing first-lien term loan to Libor plus 325 bps from Libor plus 350 bps were canceled.

Jefferies LLC was leading the deal that was going to be used to refinance the company’s existing second-lien term loan and to fund a future dividend.

Affinity Gaming is a Las Vegas-based diversified casino gaming company.

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