Everi Holdings Inc. announced the closing of the previously announced private offering by its wholly-owned subsidiary, Everi Payments Inc., of $375 million in aggregate principal amount of 7.5 percent senior unsecured notes due 2025.
The notes were issued under an indenture entered into on December 5. They are fully and unconditionally guaranteed on a senior unsecured basis by the guarantors.
Everi Payments intends to use the proceeds from the offering, together with cash on hand, to redeem in full its existing $350 million of 10 percent senior unsecured notes due 2022. Everi Payments issued an unconditional notice of redemption with respect to the 2022 Notes, which redemption will be consummated on January 15, 2018.
The notes were offered and sold only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons in accordance with Regulation S under the Securities Act.
