International Game Technology PLC Announces Satisfaction Of Financing Condition For Tender Offer
LONDON, June 28, 2018 /PRNewswire/ -- International Game Technology PLC (NYSE:IGT) ("IGT") today announced that it has received an amount of gross proceeds from the issuance of €500 million 3.500% senior secured notes due 2024 (the "New Notes") sufficient to finance the payment by IGT of the aggregate tender offer consideration (the "Tender Offer Consideration") with respect to its outstanding:
(i) €700,000,000 4.125% Senior Secured Notes due 2020 represented by the Regulation S global note (the "4.125% Notes") (ISIN: XS1204431867); and
(ii) €500,000,000 4.750% Senior Secured Notes due 2020 (the "4.750% Notes" and together with the 4.125% Notes, the "Notes") (ISIN XS0860855930),
validly tendered and accepted for purchase pursuant to an offer to purchase dated June 18, 2018 (the "Offer to Purchase" and such offer, the "Offer") (such condition being the "Financing Condition").
On June 26, 2018, IGT announced that €262,395,000 aggregate principal amount of the 4.125% Notes and €112,100,000 aggregate principal amount of the 4.750% Notes had been validly tendered (and not validly withdrawn) and that, subject to satisfaction of all conditions set out in the Offer to Purchase, it intended to accept for purchase all of the Notes tendered in the Offer. The Final Acceptance Amount (as defined in the Offer to Purchase) is therefore €374,495,000.
IGT hereby announces that all conditions set out in the Offer to Purchase, including the Financing Condition, have been satisfied and that therefore it will pay on the date hereof the Tender Offer Consideration plus accrued and unpaid interest on the applicable Notes from, and including, the immediately preceding interest payment date up to, but excluding, June 28, 2018.
BNP Paribas, Deutsche Bank AG, London Branch and Société Générale acted as the Dealer Managers for the Offer.