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IGT reveals US$750 million notes offering

by Newsdesk

Wed 17 Mar 2021 at 18:53

IGT slips to 2Q20 loss on 48% global revenue decline

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Global gaming giant IGT has announced an offering of US$750 million 4.125% senior secured notes due 2026.

The offering, outlined via two separate announcements on Wednesday, is expected to be settled on 25 March 2021 after which time the notes will be listed on the Official List of Euronext Dublin and admitted to trading on the Global Exchange Market of Euronext Dublin.

IGT said it intends to use the net proceeds of the sale of the notes to redeem its 6.250% Senior Secured Notes due 2022, conditional upon receipt of the US$750 million in gross proceeds. The redemption would take place on 26 March 2022.

IGT recently reported a net loss of US$898 million for FY20 on global COVID-19 closures.

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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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