J&J Ventures Gaming to launch $375 million term loan B on Wednesday

By Sara Rosenberg

New York, July 25 – J&J Ventures Gaming Inc. is scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch a non-fungible $375 million incremental covenant-lite term loan B due April 26, 2028, according to a market source.

Deutsche Bank Securities Inc., Goldman Sachs Bank USA and SMBC are the bookrunners on the deal.

The incremental term loan has ARRC CSA of 11.448 basis points one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, a 0.75% floor and 101 soft call protection for six months, the source said.

Spread and original issue discount talk on the incremental term loan have not yet been announced.

Commitments are due at 5 p.m. ET on Aug. 3, the source added.

Proceeds will be used to fund the acquisition of Golden Entertainment’s distributed gaming assets in Nevada and Montana.

The incremental term loan is coterminous with the existing term loan B.

J&J Ventures, an Oaktree Capital Management LP portfolio company, is an Effingham, Ill.-based video gaming terminal operator.

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