Gaming Capital to launch $450 million term loan B on Tuesday

By Sara Rosenberg

New York, April 25 – Gaming Capital Group (GCG Holdings LLC) is scheduled to hold a lender call at 10 a.m. ET on Tuesday to launch a $450 million seven-year covenant-lite term loan B, according to a market source.

Wells Fargo Securities LLC, Goldman Sachs Bank USA, US Bank, PNC and NV State Bank are the lead arrangers on the deal.

The term loan has 101 soft call protection for six months, the source said.

Security is a perfected first-lien interest on substantially all assets of the borrower and guarantors including capital stock of each wholly owned material subsidiary, subject to customary exceptions.

Commitments are due at noon ET on May 5, the source added.

Proceeds will be used to refinance existing debt and consolidate ownership by performing buyouts of various GCG entities.

Gaming Capital is a Newcastle, Okla.-based provider of class II and class III electronic gaming machines to tribal and commercial casinos in the Oklahoma market.

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