Scientific Games Credit Agreement

Dec 16th, 2020 | By | Category: Uncategorized

U.S. gaming maker Scientific Games Corp says the group has reached an agreement with its lenders to amend an existing revolving credit facility agreement. Scientific Games and its lenders have agreed to modify the company`s existing revolving credit facility to extend the discharge period for the Confederation. In recent months, a number of gaming equipment and casino suppliers have announced new issuance exercises or changes to existing credit facilities to help them meet the financial challenges arising from the negative impact of the Covid 19 pandemic on the business. Amendment 5 (i) creates a new tranche of revolving loan commitments of approximately $199.5 million under the credit agreement (the “new dollar redeployment commitments”) and a new tranche of approximately $450.5 million of revolving credit commitments in several currencies under the credit contract (the “new renewable commitments for several currencies”), expiring on November 20. 2024 (subject to an accelerated deadline in certain circumstances) (ii) increases the availability of the revolving credit facility under the credit agreement to $650.0 million by November 20, 2024 and (iii) under certain other provisions of Amendment 5, the Financial Maintenance Agreement, which provides for incremental steps in the consolidated net capital ratio to 4.75 times consolidated EBITDA (as defined in the credit agreement) from the quarter of activity ended December 31, 2020 and 4.50x from the business quarter ending December 31, 2021. To avoid doubts, new renewable dollar commitments and new renewable commitments in several currencies replace the revolving credit commitments that are pending from the credit contract just before the effect of Amendment 5. Scientific Games Corporation (NASDAQ: SGMS) is the world`s leading provider of customers with a portfolio of technology platforms, robust systems, content and attractive services. The company is the world`s leading provider of technology-based gaming systems, digital gaming and sports betting platforms, table games, table products and instant games, and a leading provider of products, services and content for the gaming, lottery and social gaming markets. Scientific Games delivers what customers and gamers value most: trusted security, creative entertainment content, operational efficiency and innovative technology.

For more information, see Information contained or accessible on our website that can be accessed through our website is not included in this document by reference and is not part of this document. Cash available at the end of the quarter was $1.2 billion and the Company completed an amendment on October 8 that extends the discharge period under its revolving credit facility until the first quarter of 2022. Management also reaffirmed yesterday its commitment to focus on reducing debt on its balance sheet. LAS VEGAS, February 14, 2018 /PRNewswire/ — Scientific Games Corporation (NASDAQ: SGMS) (“Scientific Games” or “the Company”) today announced that its wholly owned subsidiary, Scientific Games International, Inc.

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