RBS, Others Close $1B Facility for International Game Technology
International Game Technology announced that it entered into an amended and restated credit agreement for a $1 billion, five-year credit facility with The Royal Bank of Scotland as administrative agent and swing line lender; Wells Fargo Bank as syndication agent and L/C issuer; and Bank of America, JPMorgan Chase Bank, Mizuho Corporate Bank, Union Bank and U.S. Bank as co-documentation agents. Wells Fargo Securities, Union Bank and RBS Securities, served as joint lead arrangers and joint lead bookrunners.
The facility replaces an existing $750 million credit facility. Through this refinancing, the company increased its available liquidity, extended the maturity of the credit facility from April 2016 to April 2018 and lowered borrowing costs on the credit facility by over 20%.
International Game Technology is a global leader in casino gaming entertainment and continues to transform the industry by translating casino player experiences to social, mobile and interactive environments for regulated markets around the world.