Stars Group reveals price talk on $2.8 billion in term loans

By Sara Rosenberg

New York, March 20 – Stars Group Inc. came out with price talk on its $2,196,000,000 seven-year covenant-light term loan and $599 million euro equivalent seven-year covenant-light term loan with its lender call on Tuesday, according to a market source.

The U.S. term loan is talked at Libor plus 300 basis points to 325 bps with a 0% Libor floor and an original issue discount of 99.75, or a 25 bps extension for those cashless rolling, and the euro term loan is talked at Euribor plus 325 bps to 350 bps with a 0% floor and an original issue discount of 99.75, or a 25 bps extension for those cashless rolling, the source said.

The term loans have 101 soft call protection for six months.

Deutsche Bank Securities Inc. and Macquarie Capital (USA) Inc. are the bookrunners on the $2,795,000,000 in term loans (B2/B+).

Commitments are due at 5 p.m. ET on March 28.

Proceeds will be used to amend and extend a $1,896,000,000 term loan and a $474 million euro equivalent term loan, and the $425 million in incremental debt raised will be used to fund recent acquisitions and repay second-lien term loan borrowings.

Stars Group is a Toronto-based provider of technology-based products and services in the gaming and interactive entertainment industries.

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