Everi Announces Successful Pricing Of $400 Million Of Senior Unsecured Notes
LAS VEGAS, June 30, 2021 /PRNewswire/ -- Everi Holdings Inc. (NYSE: EVRI) ("Everi" or the "Company"), a premier provider of land-based and digital casino gaming content and products, financial technology and player loyalty solutions, today announced it has successfully priced its previously announced offering of $400 million in aggregate principal amount of senior unsecured notes due 2029 (the "New Notes") at a rate of 5.000% and an issue price of par.
The New Notes will be guaranteed by certain of the Company's wholly-owned subsidiaries.
The Company intends to use a portion of the proceeds from the New Notes to (i) redeem in full its 7.50% Senior Unsecured Notes due 2025 and (ii) pay all related fees and expenses. Upon consummation of the closing of the Company's previously announced expected new credit facilities in August 2021, the Company intends to use the remaining proceeds from the New Notes, together with proceeds of such expected new credit facilities and cash on hand, to (i) repay all borrowings outstanding under, and terminate all commitments under, its existing credit facilities; and (ii) pay all related fees and expenses.
The offering is currently expected to close on July 15, 2021, subject to satisfaction of customary closing conditions.
The New Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The New Notes are offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act, and to non-U.S. persons in accordance with Regulation S under the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the New Notes or any other securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. Any offers of the New Notes will be made only by means of a private offering memorandum. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. This press release contains information about pending transactions, and there can be no assurance that these transactions will be completed.