• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 2 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

IGT reaches agreement with lenders to amend and expand loan agreements

Newsdesk by Newsdesk
Thu 28 Jul 2022 at 05:51
IGT slips to 2Q20 loss on 48% global revenue decline
9
SHARES
214
VIEWS
Print Friendly, PDF & Email

Global gaming giant International Game Technology PLC (IGT) says it has reached an agreement with its lenders to increase the level of funding available while extending the maturity date of its loans.

The amended revolving credit facilities will see lenders increase their commitment from a combined US$1.68 billion to US$1.83 billion, while extending the final maturity date to 31 July 2027, while reducing facilities margins by at least 0.25%.

IGT added that amendments to both its revolving credit facilities and its term loan facilities agreements will increase the annual permitted acquisition limit from 10% to 15% of consolidated total assets and the lifetime permitted acquisition limit from US$2.25 billion to US$2.5 billion. They will also increase the annual limit on dividends and share repurchases from US$300 million to US$400 million based on the group’s current public debt ratings and to US$550 million if any two public debt ratings are equal to BB+/Ba1.

“These transactions represent a continuation of the many capital structure initiatives executed over the last few years to bolster our credit profile,” said IGT’s Chief Financial Officer, Max Chiara.

“The RCF amendment extends the final maturity date of the revolving credit facilities by three years to 2027, reduces the interest rate margins and provides greater flexibility under certain non-financial covenants.”

RelatedPosts

Apollo completes acquisition of IGT gaming and digital businesses and Everi, new entity to trade under IGT name

Apollo completes acquisition of IGT gaming and digital businesses and Everi, new entity to trade under IGT name

Wed 2 Jul 2025 at 06:28
Charles Seo – Opportunity knocks

Charles Seo – Opportunity knocks

Fri 27 Jun 2025 at 13:03
DATA.BET adds Bet Builder for sports 

DATA.BET adds Bet Builder for sports 

Thu 26 Jun 2025 at 19:20
SABA Sports to highlight global scale and strength at SBC Summit 2025

SABA Sports to highlight global scale and strength at SBC Summit 2025

Tue 24 Jun 2025 at 15:05
Load More
Tags: EuropeIGTInternational Game TechnologyloanMax Chiararevolving credit facility
Share4Share1
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Abbiati: Italian Stallion

Abbiati targeting North and South American markets via strategic alliance with Hawkins Holdings

by Newsdesk
Wed 2 Jul 2025 at 09:39

Global gaming equipment supplier Abbiati Casino Equipment has entered into a strategic alliance with Hawkins Holdings – a company owned by seasoned gaming executive Roger Hawkins – to expand its presence across the Americas. Hawkins has been appointed Abbiati’s Brand...

Apollo completes acquisition of IGT gaming and digital businesses and Everi, new entity to trade under IGT name

Apollo completes acquisition of IGT gaming and digital businesses and Everi, new entity to trade under IGT name

by Ben Blaschke
Wed 2 Jul 2025 at 06:28

Asset management giant Apollo announced overnight that it has completed the acquisition of FinTech firm Everi Holdings and the Gaming and Digital businesses of International Game Technology (IGT). The two companies will be combined into a single enterprise operating under...

Aristocrat Gaming awarded license to develop MONOPOLY slot games globally

Aristocrat Gaming awarded license to develop MONOPOLY slot games globally

by Newsdesk
Wed 2 Jul 2025 at 06:21

Aristocrat Gaming has been granted the rights to develop MONOPOLY-branded slot games following the completion of a competitive RFP process, the company has revealed. The multi-year partnership with board game giant owner of the MONOPOLY brand Hasbro will come into...

Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

by Ben Blaschke
Wed 2 Jul 2025 at 06:19

Macau Legend Development Ltd, owner and operator of Legend Palace and the Macau Fisherman’s Wharf precinct, says it has reached an agreement with lenders to defer payments on loans amounting to almost HK$2.1 billion (US$268 million) until late 2026, as...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English