MONTREAL, Dec. 20, 2013 /CNW Telbec/ - Amaya Gaming Group Inc. ("Amaya" or the "Corporation") (TSX: AYA) is pleased to announce that its wholly-owned subsidiary,
Cadillac Jack Inc. ("Cadillac Jack"), has entered into an agreement for the refinancing of its credit
facilities. The debt for the transaction was provided by an entity
sub-advised by an affiliate of GSO Capital Partners LP ("GSO"), Blackstone's credit business1. Under this agreement, Cadillac Jack will have access to term loans in
an aggregate principal amount of up to $160 million (the "Credit Facilities"). The Credit Facilities have replaced the existing $110 million
non-convertible senior term loan secured by Cadillac Jack's assets and
that was made available to Amaya to finance the acquisition of Cadillac
Jack by Amaya, as of November 5, 2012 (the "2012 Loan").
The Credit Facilities will be used to fully repay the outstanding
balance on the 2012 Loan, as well as related fees and expenses and to
fund the ongoing working capital and other general corporate purposes
of Cadillac Jack.
The Credit Facilities have a term of 5 years from the closing date and
are secured by the assets of Cadillac Jack and its subsidiaries. Amaya
has provided an unsecured guarantee of the obligations of Cadillac Jack
in favour of the lenders.
Amaya provides a full suite of gaming products and services including
casino, poker, sportsbook, platform, lotteries and slot machines. Some
of the world's largest gaming operators and casinos are powered by
Amaya's online, mobile, and land-based products. Amaya is present in
all major gaming markets in the world with offices in North America,
Latin America and Europe. Amaya recently acquired Cryptologic, a
pioneer within online casino, Ongame, a leader within online poker, and
Cadillac Jack, a successful slot machine manufacturer. For more
information please visit www.amayagaming.com.
DISCLAIMER IN REGARDS TO FORWARD-LOOKING STATEMENTS
Certain statements included herein, including those that express
management's expectations or estimates of our future performance
constitute "forward-looking statements" within the meaning of
applicable securities laws. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while considered
reasonable by management at this time, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Investors are cautioned not to put undue reliance on
forward looking statements. Except as required by law, the Corporation
does not intend, and undertakes no obligation, to update any
forward-looking statements to reflect, in particular, new information
or future events.
1 The entities sub-advised by GSO Capital Partners are FS Investment
Corp I and FS Investment Corp II; they are advised by FB Income
SOURCE: Amaya Gaming Group Inc.
For further information:
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Tel: 416-815-0700 ext. 251
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