International Game Technology amends and extends revolver, term loan

By Rebecca Melvin

New York, July 26 – International Game Technology plc announced that on July 24 it successfully amended and extended its multicurrency revolving credit facilities and amended its term loan facility.

The maturity date of the revolving credit facilities was extended to July 31, 2024 from July 26, 2021, and the facilities agreement was amended to reduce the aggregate commitments of the lenders to $1.05 billion and €625 million, from $1.2 billion and €725 million, respectively.

Changes to the revolver also include establishing a minimum ratio of EBITDA to total net interest costs and the maximum ratio of total net debt to EBITDA for the extended term. Certain other provisions to enhance financial flexibility were modified and other non-material provisions were also amended, according to a 6-K filed with the Securities and Exchange Commission.

The Royal Bank of Scotland plc is agent of the facilities agreement, which was originally dated Nov. 4, 2014 and amended on April 2, 2015, Oct. 28, 2015, July 26, 2016, July 31, 2017 and Dec. 17, 2018.

International Game Technology is a London-based gaming company.

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