Aristocrat Acquisition of VGT Presentation
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES.
Acquisition funding details
Acquisition funding details
Purchase
price (1)
US$1,283 million transaction value subject to
certain adjustments (2)
Debt
■
Equity
■
Sources and uses ($ million)
Sources
New TLB facility
Placement
Fully committed, 7 year US$ Term Loan B ("TLB")
facility of US$1,300 million
Flexible, long term debt
5 year A$100 million Revolving Facility
Total sources
Uses
Underwritten Placement
A$375 million to sophisticated and
institutional investors
Additional non-underwritten Ainsworth Offer and
SPP totalling up to A$60 million
Ainsworth Offer of up to A$30 million
US$(3)
A$
1,300
1,383
353
375
1,653
1,758
US$(3)
A$
Upfront cash consideration
1,283 1,365
Transaction expenses / other costs (4)
121
129
Aristocrat gross debt refinanced (as at 31 March 2014)
Cash on balance sheet
239
254
10
10
Total uses
1,653
1,758
Notes: Numbers may not add due to rounding
(1)
(2)
The purchase price excludes deferred payments to the Vendor in relation to the tax election of US$17.5 million on each of the first and second anniversary of the transaction closing date and a
further conditional payment of up to US$15 million
The purchase price is subject to customary completion adjustments, an adjustment for machine placement fees incurred prior to completion and certain tax indemnification and deferred payments
associated with a tax election
(3)
USD converted to AUD at a 0.94 AUD/USD exchange rate
20
20
(4)
Includes debt facility ticking fees and estimates of certain completion adjustment amounts
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