LNW - Form 8-K (TLB Repricing)
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| Stock | Light & Wonder Inc (LNW.ASX) |
|---|---|
| Release Time | 23 Jan 2026, 8:23 a.m. |
| Price Sensitive | Yes |
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LNW - Form 8-K (TLB Repricing)
Key Points
- Creates a new $2.13 billion term loan tranche due 2029
- Reduces interest rates on term loans to 2% for SOFR and 1% for ABR
- Repays existing term loans with proceeds from new term loans
Full Summary
Light & Wonder Inc. announced that its wholly-owned subsidiary, Light and Wonder International, Inc., has entered into Amendment No. 4 to its existing credit agreement. The amendment creates a new $2.13 billion term loan tranche (Term B-3 Loans) due April 14, 2029 to replace the existing term loans. The amendment also reduces the applicable margin for the term loans bearing interest at a term benchmark rate (SOFR, EURIBOR and BBSY) to 2.00% per annum and to 1.00% per annum for loans bearing interest at ABR. The proceeds of the new Term B-3 Loans will be used to repay all outstanding Unconverted Term B-2 Loans and pay any accrued interest on the Term B-2 Loans up to the amendment effective date.
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