Twin River Secures $275 Million Of Additional Financing
Twin River Worldwide Holdings, Inc. (TRWH)
Last twin river worldwide holdings, inc. earnings: 3/3 08:00 am
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Source: PR Newswire
PROVIDENCE, R.I., April 30, 2020 /PRNewswire/ -- Twin River Worldwide Holdings, Inc. (NYSE: TRWH) announced today that it had successfully syndicated an expansion to the term loan facility in its existing bank credit agreement by $275 million. Funding, which is expected to occur on May 11, 2020, is subject to final documentation and customary conditions. Borrowings under the expanded term loan facility will bear interest at LIBOR + 8.00% per annum through the 2026 maturity date. The loan will be issued with an original issue discount of 97 and will be non-callable for 18 months. After 18 months the loan is callable at a price of 104.5% of par, and after 30 months the loan is callable at par. The financing is expected to satisfy the financing contingency under Twin River's previously announced agreement to acquire the Eldorado Shreveport Resort and Casino and the MontBleu Resort Casino & Spa. As the regulatory approval process for those transactions will take some time, Twin Rive
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