PlayAGS Subsidiary Revises Credit Agreement, Lowers Interest Rates

Playags Inc (AGS) has released an update to notify the public and investors about an entry into a material definitive agreement.

AP Gaming I, LLC, a subsidiary of PlayAGS, Inc., recently revised its First Lien Credit Agreement through a Seventh Amendment, resulting in financial adjustments that benefit the company. The amendment eliminated the credit spread adjustment for certain term loans and lowered the Applicable Margin, leading to reduced interest rates of 3.75% for Term SOFR and 2.75% for ABR borrowings. Concurrently, the company proactively repaid $15 million of its debt, signaling a strategic move to strengthen its financial position.

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For a comprehensive understanding of the announcement, you can read the full document here.