IGT offers to purchase, amend USD 800M notes
The purchase price offer equals 101 percent of the principal amount of the notes plus any accrued and unpaid interest up to, but not including, the date of purchase of the notes, International Game Technology Plc said.
The notes are due in 2020 and 2023, respectively.
The offers are being made to satisfy the requirements of the indentures governing the notes as a result of International Game Technology’s acquisition. GTech SpA and International Game Technology last week completed a cross-border merger of their businesses under International Game Technology Plc.
International Game Technology is also offering to pay US$2.5 cash consent fees to holders of the notes who consent to amendments changing the terms of each series. The goal of the amendments is to reflect the corporate changes regarding International Game Technology following the merger.
The consent deadline is April 23. Payment of the consent fee for each series of the notes is subject to International Game Technology receiving a majority of consents with respect to such series.
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