Light & Wonder's (ASX:LNW) Delaware subsidiary on May 15 entered into an $800 million term loan A facility with JP Morgan as administrative and collateral agent, according to a Monday filing with the Australian bourse.
The facility will mature on May 15, 2028. It will bear an interest set at either the adjusted term secured overnight financing rate plus 1.75% or the base rate plus 0.75%.
Proceeds were used for the acquisition of Grover Gaming's charitable gaming business that was completed on May 16 for total consideration of $850 million cash and a four-year revenue-based earn-out of up to $200 million cash, the filing stated.
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