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.
Sep 19, 2018Nowadays, millennials, people who were born in the 1980s or...
Aug 16, 2018Food and drink have been heavily marketed as part of Macau...
Jun 27, 2018Macau’s gaming law needs to be amended in order to...
Oct 23, 2018Visitor arrivals to Macau totalled over 2.56 million in September, up by 3.0 percent year-on-year, the latest data from the city’s Statistics and Census Service showed. The September visitor tally...
Oct 23, 2018
Oct 23, 2018
”We need to have stability – especially in terms of legislation, so that it doesn’t change very often. We have several discussions with the authorities and they understand that stability is a must for the development of this industry”
COO for Russian operations at casino investor Summit Ascent