Light & Wonder Amends Credit Agreement to Add $2.13 Billion Term Loan Tranche
January 26, 2026
Source: Investing.com
Light & Wonder, Inc. (NASDAQ:LNW) announced Thursday that its wholly owned subsidiary, Light and Wonder International, Inc., has entered into Amendment No. 4 to its existing credit agreement. The amendment, dated Thursday, creates a new tranche of term loans totaling $2,134,562,718.75, which will mature on April 14, 2029. These new loans replace the company’s existing term loans.
According to the company’s statement in the SEC filing, the amendment also reduces the interest rate margin for the new term loans. Loans bearing interest at a term benchmark rate—such as SOFR, EURIBOR, or BBSY, as defined in the credit agreement—will now have an applicable margin of 2.00% per annum. Loans bearing interest at the alternate base rate (ABR) will have a margin of 1.00% per annum.
JPMorgan Chase Bank, N.A. continues as the administrative agent, collateral agent, issuing lender, and swingline lender under the agreement. The credit agreement was originally dated April 14, 2022, and has been amended several times, most recently by this fourth amendment.
The company’s common stock was previously listed on the Nasdaq Stock Market but was delisted on November 13, 2025, following the company’s voluntary filing of Form 25 with the SEC on November 3, 2025. The stock is expected to be deregistered under Section 12(b) of the Exchange Act 90 days after the filing.
The information in this article is based on a press release statement included in a Form 8-K filed with the Securities and Exchange Commission.
In other recent news, Light & Wonder has transitioned to a sole standard listing on the Australian Securities Exchange (ASX), effective November 14, 2025. This move follows the company’s delisting from the Nasdaq Stock Market, which was completed after filing Form 25 with the Securities and Exchange Commission on November 3. As part of this transition, Light & Wonder has updated its bylaws to align with its new listing status. The company’s common stock is anticipated to be deregistered under Section 12(b) of the Exchange Act 90 days following the Form 25 filing. In light of these changes, Benchmark has raised its price target for Light & Wonder to $110 from $90, while maintaining a Buy rating on the stock. These developments reflect significant strategic shifts for the company as it consolidates its market presence on the ASX.
JPMorgan Chase Bank, N.A. continues as the administrative agent, collateral agent, issuing lender, and swingline lender under the agreement. The credit agreement was originally dated April 14, 2022, and has been amended several times, most recently by this fourth amendment.
The company’s common stock was previously listed on the Nasdaq Stock Market but was delisted on November 13, 2025, following the company’s voluntary filing of Form 25 with the SEC on November 3, 2025. The stock is expected to be deregistered under Section 12(b) of the Exchange Act 90 days after the filing.
The information in this article is based on a press release statement included in a Form 8-K filed with the Securities and Exchange Commission.
In other recent news, Light & Wonder has transitioned to a sole standard listing on the Australian Securities Exchange (ASX), effective November 14, 2025. This move follows the company’s delisting from the Nasdaq Stock Market, which was completed after filing Form 25 with the Securities and Exchange Commission on November 3. As part of this transition, Light & Wonder has updated its bylaws to align with its new listing status. The company’s common stock is anticipated to be deregistered under Section 12(b) of the Exchange Act 90 days following the Form 25 filing. In light of these changes, Benchmark has raised its price target for Light & Wonder to $110 from $90, while maintaining a Buy rating on the stock. These developments reflect significant strategic shifts for the company as it consolidates its market presence on the ASX.
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