International Game Technology PLC Announces Offering Of $500 Million Senior Secured Notes Due 2027 And Conditional Notice Of Redemption For Its $600 Million 5.625% Senior Secured Notes Due 2020
LONDON, Sept. 17, 2018 /PRNewswire/ -- International Game Technology PLC (NYSE:IGT) ("IGT") today announced the offering of $500,000,000 aggregate principal amount of senior secured notes due 2027 (the "Notes") subject to customary market and closing conditions (the "Offering"). 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.
IGT intends to use the net proceeds of the Offering, together with proceeds of a utilization under its senior syndicated revolving credit facilities, to redeem (the "Redemption") its US$600,000,000 5.625% Senior Secured Notes due 2020 (Regulation S ISIN: USG4863AAA63 / Rule 144A ISIN: US460599AA19 / Regulation S CUSIP: G4863A AA6 / Rule 144A CUSIP: 460599 AA1) (the "5.625% Notes due 2020") on September 27, 2018, at a redemption price equal to $1,028.43 per $1,000.00 of principal amount of the 5.625% Notes due 2020. The Redemption is conditioned on IGT's receipt of at least $500,000,000 in gross proceeds from the Offering. A conditional notice of the Redemption was sent to all registered holders of the 5.625% Notes due 2020 on September 17, 2018. This news release does not constitute the conditional notice of the Redemption.
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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