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On February 5, 2024, PlayAGS, Inc. announced the successful completion of a repricing of its term loan credit facility. The amendment, known as the Seventh Amendment, was entered into by AP Gaming I, LLC, a wholly owned indirect subsidiary of PlayAGS, and AP Gaming Holdings, LLC, another subsidiary of the company. The amendment resulted in the removal of the credit spread adjustment for term loan borrowings and a reduction in the Applicable Margin on the company's existing term loan to 3.75% for Term SOFR borrowings and 2.75% for ABR borrowings. Concurrently, PlayAGS elected to repay $15 million of its total debt outstanding. This strategic financial move is expected to generate annualized cash interest expense savings of over $3 million. The company's CFO, Kimo Akiona, emphasized the focus on reducing net leverage through consistent Adjusted EBITDA growth and improving free cash flow conversion, aiming to expedite the company's deleveraging objectives.
On February 5, 2024, PlayAGS, Inc. announced the successful completion of a repricing of its term loan credit facility. The amendment, known as the Seventh Amendment, was entered into by AP Gaming I, LLC, a wholly owned indirect subsidiary of PlayAGS, and AP Gaming Holdings, LLC, another subsidiary of the company. The amendment resulted in the removal of the credit spread adjustment for term loan borrowings and a reduction in the Applicable Margin on the company's existing term loan to 3.75% for Term SOFR borrowings and 2.75% for ABR borrowings. Concurrently, PlayAGS elected to repay $15 million of its total debt outstanding. This strategic financial move is expected to generate annualized cash interest expense savings of over $3 million. The company's CFO, Kimo Akiona, emphasized the focus on reducing net leverage through consistent Adjusted EBITDA growth and improving free cash flow conversion, aiming to expedite the company's deleveraging objectives.
2024年2月5日，PlayAGS, Inc.宣布成功完成其定期贷款信贷额度的重新定价。该修正案被称为第七修正案，由PlayAGS的全资间接子公司AP Gaming I, LLC和该公司的另一家子公司AP Gaming Holdings, LLC签署。该修正案取消了定期贷款借款的信用利差调整，并将公司现有定期贷款的适用利润率降低至定期SOFR借款的3.75％，ABR借款的适用利润率降至2.75％。同时，PlayAGS选择偿还其未偿债务总额中的1500万美元。这一战略财务举措预计每年将节省超过300万美元的现金利息支出。该公司首席财务官Kimo Akiona强调将重点放在通过持续的调整后息税折旧摊销前利润增长和改善自由现金流转换来降低净杠杆率上，旨在加快公司的去杠杆化目标。
2024年2月5日，PlayAGS, Inc.宣布成功完成其定期贷款信贷额度的重新定价。该修正案被称为第七修正案，由PlayAGS的全资间接子公司AP Gaming I, LLC和该公司的另一家子公司AP Gaming Holdings, LLC签署。该修正案取消了定期贷款借款的信用利差调整，并将公司现有定期贷款的适用利润率降低至定期SOFR借款的3.75％，ABR借款的适用利润率降至2.75％。同时，PlayAGS选择偿还其未偿债务总额中的1500万美元。这一战略财务举措预计每年将节省超过300万美元的现金利息支出。该公司首席财务官Kimo Akiona强调将重点放在通过持续的调整后息税折旧摊销前利润增长和改善自由现金流转换来降低净杠杆率上，旨在加快公司的去杠杆化目标。
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