Aristocrat prices new US$500 million loan facility

Aristocrat

Australia-listed Aristocrat Leisure on Monday announced the pricing of a new US$500 million term loan, with the aim of strengthening the group’s liquidity and balance sheet.

The company made the announcement on the Australian Stock Exchange on Monday, noting that the Term Loan B facility will settle around 21 May 2020, with a maturity date of October 2024. 

Aristocrat said the proceeds of the loan will be used for general corporate purposes, and was strongly supported by existing and new investors.

Following settlement, Aristocrat’s total TLB debt will amount to $2.35 billion.

“We are very pleased with the outcome of this debt raising which was significantly oversubscribed,” said Aristocrat CFO Julie Cameron-Doe. “The TLB market continues to provide Aristocrat with flexibility and competitively priced debt on a covenant light basis and we are grateful for the ongoing support of this important debt market.”

“The transaction is part of our ongoing strategy to further enhance our liquidity, continue to invest for growth and position the group to emerge strongly from the current COVID-19 related challenges.”

Felix is the Asia Editor and Events Director of the Asia Gaming Brief. He has over a decade of experience developing conferences for industries including gaming, telecoms, investment, biotechnology, and mining. He has developed some of the most well-known conferences for the Asian gaming industry, most recently being the ASEAN Gaming Summit, the Australasian Gaming Seminars, and the Mekong Gaming Summit. Felix covers gaming technology and innovation and is passionate about developing engaging and eye-catching content for the industry.