LNW - Form 8-K (TLB Repricing)

• 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

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.