Light & Wonder, Inc. 8-K

What Happened
On January 22, 2026, Light and Wonder International, Inc. (L&WI), a wholly owned subsidiary of Light & Wonder, Inc., entered into Amendment No. 4 to its Credit Agreement (originally dated April 14, 2022) with its lending group and JPMorgan Chase Bank, N.A. as administrative agent. Amendment No. 4 (i) creates a new tranche of term loans totaling $2,134,562,718.75 that replace the existing term loans and mature on April 14, 2029, and (ii) lowers the applicable margin on the term loans to 2.00% per year for loans priced at a term benchmark rate (SOFR, EURIBOR or BBSY) and to 1.00% per year for loans priced at ABR (Alternate Base Rate). The company filed the amendment as part of its Form 8-K.

Key Details

• New term loan tranche: $2,134,562,718.75, maturity April 14, 2029 (replaces prior term loans).
• Reduced margins: 2.00% per annum for term benchmark-rate loans (SOFR/EURIBOR/BBSY); 1.00% per annum for ABR loans.
• Effective date of amendment: January 22, 2026; borrower: Light and Wonder International, Inc.; administrative agent: JPMorgan Chase Bank, N.A.
• Amendment No. 4 is attached to the 8-K as Exhibit 10.1.

Why It Matters
The amendment changes Light & Wonder’s borrowing terms by extending the term loan maturity and lowering the interest margin, which directly affects the company’s interest costs and debt maturity profile. For investors, this can mean lower ongoing interest payments on the amended term loans and reduced near-term refinancing pressure because the loans now mature in 2029. Review the full amendment for complete terms and any related covenants or fees disclosed in Exhibit 10.1.