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IGT completes US$750 million sale of new senior notes

by Newsdesk

Fri 26 Mar 2021 at 05:02

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

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Global gaming giant IGT says it has satisfied all conditions for the redemption of its 6.250% Senior Secured Notes due 2022 after completing the sale of new US$750 million 4.125% senior secured notes due 2026.

The company announced last week the issue of the new notes, which will now be listed on the Official List of Euronext Dublin and admitted to trading on the Global Exchange Market of Euronext Dublin.

IGT said at the time it intends to use the net proceeds of the sale of the notes to redeem its 6.250% Senior Secured Notes due 2022, with the redemption expected to take place immediately.

The issue and redemption of the notes come after IGT reported a net loss of US$898 million for FY20 as a result of global COVID-19 casino 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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