Company: LAWIL
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000750004-25-000016
Chunk: 143

Company: Light & Wonder, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 143
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 Unsecured Notes500 2030 and beyond550 2031 Unsecured Notes550 Unamortized discount and deferred financing costs(39)Total debt book value as of December 31, 2024$3,870 

98

Credit AgreementL&W and certain of its subsidiaries are party to the LNWI Credit Agreement. As of December 31, 2024, this credit agreement included (a) the LNWI Revolver, a revolving credit facility of $750 million maturing April 14, 2027, with up to $350 million available for issuances of letters of credit and (b) the LNWI Term Loan B, a term loan facility with an initial aggregate principal amount of $2.2 billion that matures April 14, 2029. On February 10, 2025, we entered into an amendment to the LNWI Credit Agreement. The amendment, among other things, (i) provides for new revolving commitments under the LNWI Revolver in an amount of $1.0 billion, which replace the existing revolving commitments (which were in an amount of $750 million), (ii) extends the maturity of the revolving commitments to the earlier of (x) February 10, 2030 and (y) such earlier date that is 91 days prior to the maturity of our existing term loans (scheduled to mature on April 14, 2029) and existing notes (the earliest maturity of which is scheduled for May 15, 2028), solely to the extent more than $500 million of such term loans and/or such applicable notes are outstanding on such earlier date, and subject to us having sufficient liquidity to repay such term loans and/or applicable notes at such time and (iii) reduces the applicable margin for the revolving loans bearing interest at Adjusted Term SOFR Rate (or an alternative benchmark rate for non-US dollar borrowings) to, based upon certain leverage tests, between 2.00% and 1.50% per annum, and for loans bearing interest at a base rate, between 1.00% and 0.50% per annum.The LNWI Term Loan B amortizes in equal quarterly installments in an amount equal to 1.00% per annum of the stated principal amount thereof, with the remaining balance due at final maturity. LNWI may voluntarily prepay all or any portion of outstanding amounts under the LNWI Credit Agreement at any time, without premium or penalty, subject to redeployment costs