Galaxy Gaming announces successful completion of debt refinancing

Galaxy Gaming has successfully completed the refinancing of its outstanding debt, including closing a five-year $45m secured term loan due 2030 and a $2m secured revolving credit facility due 2030 which was undrawn at closing. The New Credit Facilities have an initial interest rate of SOFR plus 3.5 per cent.

“The refinancing of our outstanding debt significantly strengthens our balance sheet and enhances Galaxy Gaming’s financial flexibility. Our improved operating performance and recent record results were pivotal in driving the success of this refinancing transaction,” said Steve Kopjo, Chief Financial Officer of Galaxy Gaming. “Through the replacement of our term loan and the strategic downsizing of our overall debt, we have achieved substantial annual interest savings while extending the maturity to 2030. Our annualized cash borrowing costs at current rates are now approximately $2.8m less than at September 30, 2024. Moving forward, we will continue to prioritize Free Cash Flow generation and invest in initiatives to support our growth, while maintaining a prudent long-term net debt leverage target of approximately 2.5 – 3.0 times our Adjusted EBITDA.”  

The New Credit Facilities are secured by substantially all of the Company’s assets and are guaranteed by the company’s wholly owned subsidiaries.

The company utilised the proceeds from the New Term Loan, along with cash on hand, to fully prepay and terminate all commitments under its previous Term Loan Facility due 2026, as well as to settle all related fees and expenses associated with this transaction

​Galaxy Gaming has successfully completed the refinancing of its outstanding debt, including closing a five-year $45m secured term loan due 2030 and a $2m secured revolving credit facility due 2030 which was undrawn at closing. The New Credit Facilities have an initial interest rate of SOFR plus 3.5 per cent. “The refinancing of our outstanding…