July 25, 2017 4:00 PM ET

Hotels, Restaurants and Leisure

Company Overview of Everi Payments Inc.

Company Overview

Everi Payments Inc. develops and manufactures integrated software solutions and kiosks for cash management and other gaming operations in casinos. It offers kiosks solutions that include CXC 4.0 R, a cash access and cash handling solution; CXC 4.0 L, an integrated cash access device; JackpotXchange that automates jackpot payments; Xchange Explorer Plus, a reporting tool; and TableXchange, a device that connects table games to a casino’s existing TITO network allowing for scanning and printing TITO vouchers. The company also provides Cash Club, a cash access solution that streamlines credit/debit card transaction processing from a single dashboard interface; Central Credit, a credit bureau; Q...

7250 South Tenaya Way

Suite 100

Las Vegas, NV 89113

United States

Founded in 1998

Phone:

702-855-3000

Key Executives for Everi Payments Inc.

Everi Payments Inc. does not have any Key Executives recorded.

Everi Payments Inc. Key Developments

Everi Holdings Inc. and Everi Payments Inc. Enter into Credit Agreement

Everi Payments Inc., a subsidiary of Everi Holdings Inc. as borrower, and the company entered into a credit agreement, dated as of May 9, 2017 (the Closing Date), among Everi Payments, the Company, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender, letter of credit issuer, sole lead arranger and sole book manager. The Credit Agreement provides for a $35.0 million, five-year senior secured revolving credit facility (the Revolving Credit Facility); and an $820.0 million, seven-year senior secured term loan facility (the Term Loan Facility, and together with the Revolving Credit Facility, the New Credit Facilities). The Term Loan Facility matures seven years after the Closing Date (the Stated Term Maturity Date); provided that, if on the date that is 91 days prior to the maturity date (the Unsecured Notes Maturity Date) for the Everi Payments 10.00% Senior Unsecured Notes due 2022 in the aggregate original principal amount of $350.0 million (the Unsecured Notes), any Unsecured Notes remain outstanding and the Unsecured Notes Maturity Date has not been extended to a date that is at least six months after the Stated Term Maturity Date, then the Term Loan Facility shall mature on the date that is 91 days before the Unsecured Notes Maturity Date. The Revolving Credit Facility matures five years after the Closing Date; provided, that, if on the date that is 121 days prior to the Unsecured Notes Maturity Date, any Unsecured Notes remain outstanding and the Unsecured Notes Maturity Date has not been extended to a date that is at least six months after the Stated Term Maturity Date, then the Revolving Credit Facility shall mature on the date that is 121 days before the Unsecured Notes Maturity Date. The Revolving Credit Facility is available for general corporate purposes, including permitted acquisitions, working capital and the issuance of letters of credit. All borrowings under the Revolving Credit Facility will be subject to the satisfaction of customary conditions, including the absence of defaults and the accuracy of representations and warranties.

Everi Announces Exchange Offer for its 10.00% Senior Unsecured Notes Due 2022

Everi Holdings Inc. announced that its wholly owned subsidiary, Everi Payments Inc., has commenced an offer to exchange up to $350.0 million in aggregate principal amount of 10.00% Senior Unsecured Notes due 2022, and related guarantees, which have been registered under the Securities Act of 1933, as amended (the New Notes), for an equal aggregate principal amount of its outstanding 10.00% Senior Unsecured Notes due 2022, and related guarantees, which were issued in a private placement (the Old Private Notes). The Old Private Notes are senior unsecured obligations of the company and are guaranteed by certain of the company's domestic subsidiaries (other than the Issuer). The Old Private Notes were issued under an indenture dated December 19, 2014, as amended, and the New Notes will be issued under the same indenture. The terms of the New Notes are substantially identical to the Old Private Notes, except that the New Notes, subject to specified conditions, will be freely transferable. The company will not receive any cash proceeds from the Exchange Offer. The sole purpose of the Exchange Offer is to fulfill the company's obligations with respect to the registration of the Old Private Notes. Pursuant to a registration rights agreement entered into by the Company in connection with the sale of the Old Private Notes, the company agreed to file with the Securities and Exchange Commission a registration statement relating to the Exchange Offer pursuant to which the New Notes, containing substantially identical terms to the Old Private Notes, would be offered in exchange for the Old Private Notes that are tendered by the holders of those notes. Any Old Private Notes not tendered for exchange in the Exchange Offer will remain outstanding and continue to accrue interest, but will not retain any rights under the registration rights agreement, except in limited circumstances. The Exchange Offer will expire at 5:00 p.m., New York City time, on December 4, 2015, unless extended. The company does not currently intend to extend the expiration date. Old Private Notes tendered pursuant to the Exchange Offer may be withdrawn at any time prior to the expiration of such offer by following the procedures set in the Exchange Offer prospectus dated November 4, 2015.

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