Published by Gbaf News
Posted on July 6, 2017
Dentons has advised NYX Gaming Group (NYX), the TSX-V listed premier digital gaming supplier, on its refinancing facilities with Ares Capital, a leading alternate credit provider. The transaction is expected to close in July 2017.
With the proceeds of the new financing, NYX plans to redeem all of its outstanding senior secured debentures due December 2019. NYX also plans to pay-off its unsecured convertible debentures and all outstanding amounts under its existing revolving credit facility. The facilities will be secured against the material companies of the global NYX group.
Dentons Banking and Finance partner Lee Federman, who led on the transaction, said, “We are delighted to have advised our longstanding client NYX on its debt refinancing. Following NYX’s rapid growth in 2016, this refinancing will allow the company to streamline its capital structure and materially reduce its interest expense.”
In addition to Lee Federman, the Dentons team advising on the refinancing included counsel Amrita Maini and associate Robert Lowe.
In 2016, Dentons advised NYX on two significant acquisitions. The first was NYX’s £270 million acquisition of leading online sports betting platform provider OpenBet, which closed on 20 May 2016. This high profile transaction brought together two of the world’s most established digital gaming suppliers, and built on NYX’s commitment to deliver premium end-to-end gaming solutions to clients in regulated gaming markets across the globe. Also in May 2016, Dentons advised NYX on its £24.5 million acquisition of Betdigital, a UK-based developer of content and systems for online, mobile, interactive TV and land-based gaming platforms.
Dentons has advised NYX Gaming Group (NYX), the TSX-V listed premier digital gaming supplier, on its refinancing facilities with Ares Capital, a leading alternate credit provider. The transaction is expected to close in July 2017.
With the proceeds of the new financing, NYX plans to redeem all of its outstanding senior secured debentures due December 2019. NYX also plans to pay-off its unsecured convertible debentures and all outstanding amounts under its existing revolving credit facility. The facilities will be secured against the material companies of the global NYX group.
Dentons Banking and Finance partner Lee Federman, who led on the transaction, said, “We are delighted to have advised our longstanding client NYX on its debt refinancing. Following NYX’s rapid growth in 2016, this refinancing will allow the company to streamline its capital structure and materially reduce its interest expense.”
In addition to Lee Federman, the Dentons team advising on the refinancing included counsel Amrita Maini and associate Robert Lowe.
In 2016, Dentons advised NYX on two significant acquisitions. The first was NYX’s £270 million acquisition of leading online sports betting platform provider OpenBet, which closed on 20 May 2016. This high profile transaction brought together two of the world’s most established digital gaming suppliers, and built on NYX’s commitment to deliver premium end-to-end gaming solutions to clients in regulated gaming markets across the globe. Also in May 2016, Dentons advised NYX on its £24.5 million acquisition of Betdigital, a UK-based developer of content and systems for online, mobile, interactive TV and land-based gaming platforms.
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