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Seven Aces Ltd is a gaming company with a vision of building a diversified portfolio of gaming operations. The corporation looks to enhance shareholder value by growing organically and through acquisitions. Currently, the corporation is the route operator of skill-based gaming machines in the State of Georgia, United States of America.

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Seven Aces Limited - Ordinary Shares > QIC today Announced closing of $75M US credit facility

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Post by allison5120 on Apr 10, 2018 2:50pm

QIC today Announced closing of $75M US credit facility

QIC announced the closing of the new $75MM USD credit facility with Goldman Sachs subsidiary. See https://www.fscwire.com/newsrelease/quantum-announces-closing-us75-million-credit-facility

Note that the interest rate is Libor plus 7% (not 8% as set out in the Feb 2018 press release). This still works out to be about 9.5% per annum today (based upon Libor 6 month rate at 2.47% today). QIC clarified by email that the Libor rate is in fact the Libor 6 month rate (2.47% today). This is great news for QIC and should help them reduce their interest costs considerably and to finance few more accretive deals.

Hopefully QIC will announce some new acquisitions in the next month or two.

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