Company: ACEL
Filing Date: 2025-09-12
Form Type: 8-K
Source: 0001698991-25-000036
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Company: Accel Entertainment, Inc.
Filing Date: 2025-09-12
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Agreement.

On September 10, 2025, Accel Entertainment, Inc. (the “ Company”) entered into a Credit Agreement, dated as of September 10, 2025 (the “ Credit Agreement”), by and among the Company, Accel Entertainment LLC (the “ Borrower”), the lenders from time to time party thereto, CIBC Bank USA, as administrative agent and collateral agent for the lenders and lead arranger, Fifth Third Bank, National Association, JPMorgan Chase Bank, N. A., U. S. Bank National Association, and Truist Securities, Inc., as joint lead arrangers, and Bank of America, N. A. as documentation agent.

The Credit Agreement establishes (i) a term loan facility in an aggregate principal amount of $600 million (the “ Term Loan Facility”) and (ii) a revolving loan facility in an aggregate principal amount of $300 million (the “ Revolving Loan Facility” and together with the Term Loan Facility, the “ Credit Facilities”). The maturity date of the Credit Facilities is September 10, 2030. The Revolving Loan Facility includes a $15 million sublimit for the issuance of standby letters of credit and a $25 million sublimit for swingline loans.

Proceeds of the initial borrowings under the Credit Facilities were used to repay in full all outstanding indebtedness and terminate all commitments under the Credit Agreement, dated as of November 13, 2019, as amended, by and among the Company, the Borrower, the lenders from time to time party thereto, Capital One, National Association as administrative agent and collateral agent for the lenders, and the other parties party thereto.

At the Borrower’s election, borrowings under the Credit Facilities bear interest at either (i) a base rate equal to the highest of (a) the federal funds effective rate plus 0.5%, (b) the prime rate announced by CIBC Bank USA, or (c) Term SOFR plus 1% or (ii) Term SOFR for applicable interest period, in each case plus an applicable margin. The applicable margin is determined by reference to the Borrower’s First Lien Net Leverage Ratio (as defined in the Credit Agreement) and ranges from (i) 0.75% to 1.75% for base rate borrowings and (ii) 1.5% to 2.5% for Term SOFR borrowings.

The obligations of the Borrow