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Everi Shares Up After Debt Announcement

Everi Shares Up After Debt Announcement

Shares of slot machine and financial services provider Everi Holdings rose after the announcement that the company will refinance two major loans.

The debt refinancing could yield interest savings on its respective $462 million and $335 million credit notes and extend their maturity schedules until 2020 and 2021, increasing the company’s cash flow and improving its leverage position.

The company also announced preliminary first-quarter earnings of $233 million to $238 million in net revenues, a quarterly net loss of $6 million to $4 million and adjusted EBITDA of $52 million to $54 million.

Markets reacted positively to the announcement of the restructuring, with Everi shares closing on April 10 at $5.85 after opening at $5.06.

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