Land-based and digital casino content provider Everi has announced its intent to offer $400.0m (£288.9m/€336.1m) in aggregate principal amount of senior unsecured notes in a private offering, due in 2029.
The profits from the notes are intended to fund Everi’s 7.50% senior unsecured notes, due in 2025, and will likely pay associated expenses.
The notes will be guaranteed on a senior unsecured basis and will rely on Everi’s domestic subsidiaries.
In addition, the notes will be sold to buyers who qualify under Rule 144A of the Securities Act 1933, and to buyers outside the US who qualify under Regulation 5 of the Securities Act.
After the offer closes, Everi intends to begin new credit facilities, whose proceeds are intended to repay existing borrowings under existing credit facilities.
Last week Everi announced a rise of profit in Q2 2021 following the effects of the novel coronavirus (Covid-19) pandemic.