Plus termination of the bridge facility commitment in connection with acquisition of IGT
GTECH announces closing of USD 5B in senior secured notes
(Italy/US).- GTECH has made public the closing of the offering of a series of senior secured notes on February 13, 2015:
2015-02-18
Reading time 38 seg
(Italy/US).- GTECH has made public the closing of the offering of a series of senior secured notes on February 13, 2015:
- $600,000,000 5.625% Senior Secured Notes due 2020
- $1,500,000,000 6.250% Senior Secured Notes due 2022
- $1,100,000,000 6.500% Senior Secured Notes due 2025
- €700,000,000 4.125% Senior Secured Notes due 2020
- €850,000,000 4.750% Senior Secured Notes due 2023
As previously announced, GTECH will use the proceeds from the offering to pay part of the cash component of the merger consideration for the acquisition of International Game Technology (NYSE: IGT) (“IGT”) and acquisition-related costs and possibly to refinance certain existing indebtedness of GTECH and IGT. Following the closing, the commitment for GTECH's 364-day senior bridge term loan credit facility for the financing of the acquisition of IGT (which had been reduced from approximately $10.7 billion to approximately $4.9 billion) was terminated.
Related news releases: July 16; August 20; September 23; October 23 and 30; November 5, 7 and 25; December 18, 2014; January 8, 20, 23, 30 and 31; February 10 and 11, 2015.
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