Light & Wonder refinancing includes new $750 million asset-based revolver

By Wendy Van Sickle

Columbus, Ohio, April 14 – Light & Wonder Inc. (Scientific Games Corp.) entered into a new $750 million five-year asset-based revolving credit facility in addition to the previously reported $2.2 billion seven-year term loan, according to a news release Thursday.

The new revolver replaces the company’s $650 million revolver that was due to mature in 2024.

Borrowings under the new revolver will initially bear interest at SOFR+CSA plus 200 basis points.

As previously reported, the term loan bears interest at SOFR+CSA plus 300 bps, according to a market source.

JPMorgan Chase Bank was the lead bank on the deal.

Proceeds were used to refinance existing debt. The company also announced Thursday that it had redeemed $3 billion of secured and unsecured notes using proceeds of the divestiture of its lottery business in addition to retiring its existing $4 billion term loan.

Light & Wonder is a Las Vegas-based cross-platform games and entertainment company.

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