Company: ACEL
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001698991-25-000051
Chunk: 21

Company: Accel Entertainment, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 21
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 debt333 1,076 Total debt600,333 598,451 Less: Debt issuance costs(4,925)(3,072)Total debt, net of debt issuance costs595,408 595,379 Less: Current maturities(30,333)(34,443)Total debt, net of current maturities$565,075 $560,936 New Credit AgreementIn order to refinance its prior credit facility, 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.

13

Table of ContentsAccel Entertainment, Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements — (Continued)

The Credit Agreement establishes a:•$300.0 million revolving credit facility, including a letter of credit facility with a $15.0 million sublimit and a swing line facility with a $25.0 million sublimit, and•$600.0 million term loan facility. The maturity date of the Credit Agreement is September 10, 2030. Proceeds of the initial borrowings under the Credit Agreement were used to repay in full all outstanding indebtedness and terminate all commitments under the Company’s prior credit agreement, dated as of November 13, 2019, as amended. The Company incurred $4.1 million of debt issuance costs related to the Credit Agreement, of which $3.8 million are being amortized over the life of the Credit Agreement. The Company also recognized a loss on debt extinguishment of $1.1 million due to the partial extinguishment associated with a lender whose borrowing capacity decreased and the complete extinguishment for those lenders who are no longer participating. The obligations of the Borrower under the Credit Agreement are (i) guaranteed by the Company and each of the Borrower’s existing and future material domestic subsidiaries and (ii) secured by a first-priority lien on substantially all of the assets of the Company, as well as substantially all of the assets of