Dec 06, 2017 Newsdesk Latest News, Top of the deck, World  
Everi Holdings Inc, a specialist in cash handling technology and electronic game content for the casino industry, announced on Tuesday the closing of a private offering of US$375-million worth of senior unsecured notes. The notes – offered by the firm’s wholly-owned subsidiary Everi Payments Inc – bear interest of 7.50 percent and become due in 2025.
The group intends to use the proceeds from the offering, together with cash on hand, to redeem in full its existing US$350-million of 10.00-percent senior unsecured notes due in 2022, the parent firm stated.
“On December 5, 2017, Everi Payments issued an unconditional notice of redemption with respect to the 2022 Notes, which redemption will be consummated on January 15, 2018,” the firm said in Tuesday’s press release.
The new notes were offered and sold only to “qualified institutional buyers”, Everi Holdings stated. The deal was done via investment banks Jefferies LLC and Macquarie Capital (USA) Inc.
Everi Holdings said last month that it had concluded the repricing of a US$820-million senior secured term loan, adding that it expected to generate cash interest savings of approximately US$8.2 million on an annualised basis.
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