International Game Technology has successfully amended and extended its multi-currency revolving credit facilities and amended its term loan facility.
The maturity date of the revolving credit facilities was extended from July 26, 2021 to July 31, 2024. The facilities agreement was amended, said the firm in a statement, to reduce the aggregate commitments of the lenders from $1.2bn to $1.05bn and modify certain provisions to enhance financial flexibility as well as amend other non-material provisions.
“We appreciate the support of our lenders in extending the maturity of our revolving credit facilities,” said Alberto Fornaro, CFO of IGT. “We voluntarily reduced the commitments under the facilities, reflecting lower anticipated needs. This leaves us with significant flexibility to pursue compelling opportunities as well as ample liquidity to address debt maturities to 2022.”
The term loan facilities agreement was amended to modify certain provisions to enhance financial flexibility and amend other non-material provisions to conform with the credit facilities. The amendments to IGT’s multi-currency revolving credit facilities and term loan facility, as well as conformed copies of such agreements, are being furnished to the SEC on Form 6-K and will be available at www.sec.gov.