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Capital One, Others Arrange $900M Senior Credit Facility for Accel Entertainment

October 25, 2021, 08:04 AM
Filed Under: Entertainment

Accel Entertainment, a leading distributed gaming operator in the U.S., amended its existing senior secured credit facility to increase its borrowing capacity from $438 million to $900 million with a new five year term. The Amended Credit Facility consists of a $150 million Revolving Credit Facility, a $350 million Term Loan A and a $400 million Delayed Draw Term Loan. The interest rate and covenants remain unchanged.

The Credit Facility is made up of a syndicated group of banks. Capital One, CIBC Bank USA, Fifth Third Bank and J.P. Morgan Chase Bank were Joint Lead Arrangers and Book Runners for the Credit Facility. Capital One also acted as the Administrative Agent and U.S. Bank served as Co-Documentation Agent.

Accel Entertainment CEO Andy Rubenstein commented, “We are pleased to announce the successful completion of this amended credit facility and thank our existing and new high-caliber banking partners for their ongoing support and confidence in our future performance. The amended credit facility provides us with greater financial flexibility and liquidity as we execute against our strategic priorities and continue to explore growth opportunities that align with our asset-light and hyper-local business model.”

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