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IGT announces results of tender offer

by Newsdesk

Wed 27 Jun 2018 at 05:54

IGT announces results of tender offer

Global gaming giant IGT has completed a tender offer to purchase from the holders outstanding Senior Secured Notes due 2020.

The tender offer, announced last week, included €700 million 4.125% Senior Secured Notes due 2020 and €500 million 4.750% Senior Secured Notes due 2020 to be purchased at a price of €1,050 for each €1,000 principal amount of the 4.125% notes and €1,070 for each €1,000 principal amount of the 4.750% notes, plus any accrued and unpaid interest.

IGT’s offer expired on Tuesday at which time €262.4 million aggregate principal amount of the 4.125% notes and €112.1 million aggregate principal amount of the 4.750% notes were validly tendered.

IGT has also announced the launch of a new offering of €500 million 3.500% Senior Secured Notes due 2024, the proceeds of which will be used to pay the principal of its tender offer for the 2020 notes.

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Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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