NYX Gaming group completes debt consolidation

In an industry update, NYX Gaming Group confirmed it had completed the consolidation of its debt under a single primary lender, lowering capital costs, facilitating debt reduction and increasing operational flexibility.

Under the transaction with ARES Management Limited, NYX has amended its existing senior secured credit facilities agreement consisting of a GBP 135.0 million term loan facility to add Euro 74.9 million in term loan facilities and to expand its revolving credit facility from GBP 5.0 million to GBP 15.0 million.

Eric Matejevich, Chief Financial Officer of NYX Gaming Group, said: “Debt refinancing was an important step to improving our capital structure, significantly lowering overall cost of capital while extending the maturities of the instruments.

“With this transaction, our estimated total annual cash interest expense is down $5 million, from $28 million historically to $23 million going forward. And with simplified prepayment terms, NYX is now in a better position to deleverage through organic growth in EBITDA and free cash flow.”

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