Citi Joins Aristocrat Leisure for Playtech Takeover

Playtech plc announced that US banking giant Citi has joined the group of banks and financial institutions providing financing for the planned £2.1 billion takeover of Playtech by Australia's Aristocrat Leisure Limited.

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In Aristocrat's Firm Offer Announcement and Scheme Document, it was stated that the company has entered into: (i) an interim facilities agreement for a bridge loan to be provided by UBS AG (Australia Branch), Goldman Sachs Lending Partners LLC and Goldman Sachs Mortgage Company to satisfy the cash consideration payable in connection with the Acquisition; and (ii) a commitment letter with UBS AG (Australia Branch), UBS Securities LLC, Goldman Sachs Mortgage Company and Goldman Sachs Australia Pty Ltd to fund a senior secured incremental term loan facility in connection with the Acquisition.

Now, Aristocrat has informed the parties that the existing lenders under the aforementioned lending facilities have transferred a portion of their commitments under the Interim Facilities Agreement to Citibank, N.A..

The company added that the initial lenders under the Commitment Letter have transferred a portion of their commitments thereunder to several Citi entities: Citigroup Global Markets Inc., Citibank, N.A., Citicorp USA, Inc., Citicorp North America, Inc. and/or any of their affiliates. Citi will also act as a joint lead arranger and bookrunner for the Takeout Term Loan Facility pursuant to an amended and restated commitment letter.