AGS successfully completes debt refinancing
15 Feb 2022
“I am extremely pleased with the outcome of the Company’s recent debt refinancing, as it simultaneously lowers our total principal amount of debt outstanding, reduces our borrowing costs and extends key debt maturities,” commented AGS Chief Financial Officer, Kimo Akiona. “Additionally, the increase in our revolver capacity from $30 million to $40 million strengthens our overall financial flexibility. Looking ahead, supported by the approximately $10 million of annualized cash interest expense savings we expect to realize, relative to the level incurred for the full-year 2021, coupled with the operating momentum we continue to see in the business, I remain confident in our ability to deliver upon our previously issued year-end 2022 net leverage target of less than 4.0x.”