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IGT announces offering of €500,000,000 senior secured notes

Newsdesk by Newsdesk
Tue 10 Sep 2019 at 06:04
IGT announces offering of €500,000,000 senior secured notes
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Global gaming developer International Game Technology (IGT) has announced the offering and successful pricing of €500,000,000 2.375% senior secured notes due 2028.

In an overnight announcement, IGT said it intends to use the net proceeds from the sale of the Notes to “repay in full utilizations under its senior revolving credit facilities and for general corporate purposes which may include the scheduled €320,000,000 amortization payment due under its senior term loan facility on 25 January 2020.”

The company has applied for the Notes to be listed on the Official List of Euronext Dublin and admitted to trading on the Global Exchange Market of Euronext Dublin.

IGT recently revealed a 5% increase in revenue to US$1.23 billion in 2Q19 and its highest Adjusted EBITDA in three years of US$454 million which it attributed to significant growth in global gaming product sales and strength in global lottery same-store revenue.

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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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