Scientific Games says it has commitments for US$2.6 billion in loans to fund its purchase of slot giant WMS Industries.
Bank of America, Credit Suisse, UBS, JPMorgan Chase, Royal Bank of Scotland, Deutsche Bank, Goldman Sachs and HSBC are providing the debt, which SciGames said in a filing will consist of a $2.3 billion term loan and a $300 million revolving line of credit.
The New York-based lottery giant reached an agreement in January to buy Chicago-based WMS for $1.5 billion. WMS, however, expects about $1.6 billion is needed to refinance or repay its outstanding debt, according to the filing.
Scientific Games said it will also use a portion of the money to refinance its own borrowings and for general corporate purposes.
