Accel Entertainment, Inc. (ACEL): debt financing — Accel closes $900M credit facility ($600M term loan + $300M revolver), replacing prior debt

Accel Entertainment, Inc.

$600M term loan and $300M revolving facility, both maturing Sept 10, 2030.
Proceeds used to repay and terminate all outstanding commitments under existing November 2019 credit agreement.
Interest at Term SOFR plus 1.5%-2.5% or base rate plus 0.75%-1.75%, based on net leverage ratio.
Covenants: First Lien Net Leverage Ratio ≤ 4.75x and Fixed Charge Coverage Ratio ≥ 1.20x.
Borrowings secured by first-priority liens on substantially all assets of Accel and its material domestic subsidiaries.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Accel Entertainment, Inc. incurred revolving credit of $300 million with 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 at same as Term Loan Facility maturing September 10, 2030.

Instrument: revolving credit
Principal: $300 million
Counterparty: 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
Rate: same as Term Loan Facility
Maturity: September 10, 2030
Event: incurrence

Exact text from the filing

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.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Accel Entertainment, Inc. incurred credit facility of $600 million with 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 at either (i) a base rate equal to the highest of (a) the federal funds effective r maturing September 10, 2030.

Instrument: credit facility
Principal: $600 million
Counterparty: 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
Rate: either (i) a base rate equal to the highest of (a) the federal funds effective r
Maturity: September 10, 2030
Event: incurrence

Exact text from the filing

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.

View on SEC.gov

Browse all debt financings →

Accel Entertainment, Inc. filing history →

Source: SEC EDGAR

accession 0001698991-25-000036

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.