International Game Technology PLC Announces Successful Pricing Of $750,000,000 Of Senior Secured Notes Due 2026 And Notice Of Redemption Of All Of Its 6.250 Percent Notes Due 2022
LONDON, March 16, 2021 /PRNewswire/ -- International Game Technology PLC (NYSE:IGT) ("IGT") today announced the successful pricing of $750,000,000 4.125% Senior Secured Notes due 2026 (the "Notes").
Application has been made 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.
Settlement of the Notes is subject to customary market and closing conditions and is expected to occur on March 25, 2021.
IGT intends to use the net proceeds of the sale of the Notes and proceeds of utilizations under IGT's senior revolving credit facilities to redeem its 6.250% Senior Secured Notes due 2022 (Regulation S ISIN/CUSIP USG4863AAB47/G4863A AB4 and Rule 144A ISIN/CUSIP US460599AB91/460599 AB9) (the "6.250% Notes Due 2022") on March 26, 2022 in full at the optional redemption price therefor (the "Redemption"). The Redemption is conditioned on IGT's receipt of at least $750,000,000 in gross proceeds from the sale of the Notes. A conditional notice of the Redemption will be sent to all registered holders of the 6.250% Notes Due 2022.
The Notes have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States without registration under the Securities Act or pursuant to an applicable exemption from such registration.
The Notes are being offered and sold only (i) in the United States to qualified institutional buyers in accordance with Rule 144A under the Securities Act and (ii) outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Neither the content of IGT's website nor any website accessible by hyperlinks on IGT's website is incorporated in, or forms part of, this news release.
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In member states of the European Economic Area and the United Kingdom, this news release (and any offer of the securities referred to herein if made subsequently) is only addressed to and directed at persons who are "qualified investors" within the meaning of Prospectus Regulation (EU) 2017/1129 (including as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018).
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