AGS reprices USD 30 million revolving credit facility
AGS announced Wednesday a repricing of the $30 million revolving credit facility via a group of lenders, effective August 30, 2019, that reduces the interest rate margin on the revolver by 200 basis points to LIBOR plus 350 basis points (which will be further reduced by 25 basis points if at any time the company receives a corporate credit rating of at least B1 from Moody’s).
The company expects to record minimal fees related to this transaction in the third quarter of 2019.
AGS Chief Financial Officer Kimo Akiona said: “This interest rate reduction on our revolving credit facility reflects the progress we have made in reducing our leverage, the continued strong support of our lenders, and our ongoing commitment to maintaining a strong credit profile.”
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