IGT announces tender offer for its notes

2017-06-12

Reading time 1:33 min

International Game Technology PLC and its wholly-owned subsidiary, International Game Technology has commenced a cash offer to purchase any and all of the outstanding USD 500M aggregate principal amount of the Issuer's 7.50% notes due 2019 at a purchase price equal to USD1,106.25 per USD1,000.00 of the principal amount of the Notes plus any accrued and unpaid interest from, and including, the immediately preceding interest payment date up to, but excluding, the third business day after the Expiration Date.

The Settlement Date is expected to be June 21, 2017.

IGT is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships...

The Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated June 12, 2017 (the "Offer to Purchase") which is being made available to holders of the Notes, together with the Notice of Guaranteed Delivery, at the following web address: http://www.dfking.com/igt.

The Offer will expire at 5:00 p.m., New York City time, on June 16, 2017, unless extended or terminated as described in the Offer to Purchase (such time and date, as they may be extended, the "Expiration Date"). Notes tendered may be withdrawn at any time prior to the Expiration Date.

Holders must validly tender Notes at or prior to the Expiration Date to be eligible to receive the Tender Offer Consideration plus accrued and unpaid interest as described above. Payment for Notes that are validly tendered and not validly withdrawn at or prior to the Expiration Date will occur on the Settlement Date. Holders who utilize the guaranteed delivery procedures set forth in the Offer to Purchase will also receive the Tender Offer Consideration plus accrued and unpaid interest as described above on the Settlement Date.

The Issuer's obligation to accept for payment and to pay for any Notes validly tendered and not validly withdrawn pursuant to the Offer is subject to the satisfaction or waiver of certain conditions described in the Offer to Purchase.