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BALLY TECHNOLOGIES, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement

May 30, 2014

Item 1.01 Entry into a Material Definitive Agreement.



On May 27, 2014, Bally Technologies, Inc. (the "Company") entered into Amendment No. 2 (the "Amendment") to the Company's Second Amended and Restated Credit Agreement dated as of April 19, 2013 (the "Credit Agreement"), among the Company, Bank of America, N.A., as administrative agent (the "Agent"), and the other lenders party thereto. The Amendment amended the Credit Agreement to, among other things: (i) allow for additional incremental facilities not exceeding $370 million, (ii) extend the maturity date of the Company's Term Loan A and revolving credit facility to May 27, 2019, and (iii) revise the leverage-based pricing grid. Pursuant to the Amendment, loans under the Credit Agreement will bear interest at a rate equal to either the applicable base rate or LIBOR, plus in each case a margin determined by the Company's consolidated total leverage ratio, with a range of base rate margins from 0% to 1.00% and a range of LIBOR margins from 1.00% to 2.00%.

On May 27, 2014, the Company also entered into the Incremental Joinder Agreement (the "Joinder") with certain subsidiaries of the Company, the Agent, and the other lenders party thereto. The Joinder provides for $370 million in additional revolving commitments under the Credit Agreement. As a result of the Joinder, the aggregate total revolving commitment under the Credit Agreement is $1.07 billion.

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Source: Edgar Glimpses


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