Scientific Games successfully completes 2028 and 2029 notes offering

Scientific Games Corporation announced Tuesday that its wholly owned subsidiary, Scientific Games International, Inc. (SGI), successfully completed a private offering of $1,200.0 million in aggregate principal amount of new senior unsecured notes, which was comprised of $700.0 million of 7.000% senior unsecured notes due 2028, and $500.0 million of 7.250% senior unsecured notes due 2029, each at an issue price of 100.000%.

The net proceeds of the notes offering, together with cash on hand and borrowings under the existing revolving credit facility, will be used to redeem all $1,200 million of SGI's outstanding 10.000% senior unsecured notes due 2022, redeem all $244 million of SGI's outstanding 6.250% senior subordinated notes due 2020, pay accrued and unpaid interest thereon plus any related premiums, fees and expenses, and pay related fees and expenses of the now completed notes offering.

The 2028 and 2029 notes are guaranteed on a senior basis by Scientific Games and certain of its subsidiaries, and they are not secured. The company said in a news release that the notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The notes are offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A and to non-U.S. Persons under Regulation S under the Securities Act.