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Aristocrat Leisure has priced a new US$500 million term loan to strengthen the group’s liquidity and balance sheet.

Aristocrat said the proceeds of the loan will be used for general corporate purposes and was strongly supported by existing and new investors. The maturity date of the loan is October 2024.

“We are very pleased with the outcome of this debt raising which was significantly oversubscribed. The TLB market continues to provide Aristocrat with flexibility and competitively priced debt on a covenant light basis and we are grateful for the ongoing support of this important debt market,” Julie Cameron-Doe, CFO of Aristocrat, said.

“The transaction is part of our ongoing strategy to further enhance our liquidity, continue to invest for growth and position the group to emerge strongly from the current COVID-19 related challenges,” Julie Cameron-Doe added.