Business
Inspired Announces Closing Of £235 Million Senior Secured Notes Offering
NEW YORK, May 20, 2021 /PRNewswire/ -- Inspired Entertainment, Inc. ("Inspired") (NASDAQ: INSE) announced today that its wholly-owned subsidiary, Inspired
About this update from Inspired Entertainment, Inc.
[{"type":"text","content":"NEW YORK, May 20, 2021 /PRNewswire/ -- Inspired Entertainment, Inc. (\"Inspired\") (NASDAQ: INSE) announced today that its wholly-owned subsidiary, Inspired Entertainment (Financing) plc, has closed its previously announced private offering of £235.0 million aggregate principal amount of senior secured notes due 2026 (the \"Senior Secured Notes\"). The Senior Secured Notes bear interest at 7.875% per annum, payable semi-annually on June 1 and December 1, beginning on December 1, 2021. The Senior Secured Notes are guaranteed on a senior secured first-priority basis by Inspired and certain of Inspired's English and U.S. subsidiaries.\n\n \n \n \n \n \n \n\n \nInspired used the proceeds from the offering of the Senior Secured Notes (i) to repay its existing £145.8 million senior secured term loan facility and €93.1 million senior secured term loan facility and accrued interest thereon, (ii) to pay fees, commissions and expenses incurred in connection with the refinancing and (iii) for general corporate purposes, including to close-out derivative contracts entered into in connection with the existing term loan facilities.\nConcurrently with the transactions above, the Issuer, Gaming Acquisition Limited (a subsidiary of Inspired) and Inspired Gaming (UK) Limited (a subsidiary of Inspired) and Inspired, amongst others, entered into a new £20 million super senior revolving credit facility.\n About Inspired Entertainment, Inc. \nInspired offers an expanding portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across land-based and mobile channels around the world. Inspired's gaming, virtual sports, interactive and leisure products appeal to a wide variety of players, creating new opportunities for operators to grow their revenue. Inspired operates in approximately 35 jurisdictions worldwide, supplying gaming systems with associated terminals and content for more than 50,000 gaming machines located in betting shops, pubs, gaming halls and other route operations; virtual sports products through more than 32,000 retail venues and various online websites; digital games for 170+ websites; and a variety of amusement entertainment solutions with a total installed base of more than 16,000 gaming terminals. Additional information can be found at www.inseinc.com.\nRegulatory ...