Affinity reprices $300m term loan at reduced rate

Affinity Gaming has announced the repricing of an existing $300 million (€307.1 million) Term Loan B. The loan was originally issued when the firm refinanced its capital structure in July of last year. The transaction has now reduced the interest rate spread on the term loan by 50 basis points, to a Eurodollar rate of plus 350 basis points. Credit Suisse, Fifth Third Bancorp and Citizens Bank N.A. acted as arrangers for the repricing of the term loan. Walter Bogumil, chief financial officer of Affinity, said: “Our ongoing successful execution on our strategic plan continues to drive improvements in our operating trajectory and momentum. “Our ability to generate these improvements enabled us to successfully reprice our term loan just seven months after the refinancing of our capital structure.” Related article: Affinity stockholders approve takeover by Z Capital