Universal Entertainment to redeem $118 million 2021 notes

By Rebecca Melvin

Concord, N.H., June 11 – Universal Entertainment Corp. is planning an early redemption of its $118 million outstanding amount of existing notes due Dec. 11, 2021, according to a company release.

The redemption is expected to occur in August.

The redemption is expected to be funded by an issue of additional notes due 2024, which will be privately placed outside of Japan in or around July.

Union Gaming Securities is being tapped as marketing agent of the additional notes.

The redemption aims to improve the company’s cash flow and secure its liquidity and assumes issuance of the additional notes.

Tokyo-based Universal Entertainment manufactures pachinko, slot machines, arcade games and other gaming products and publishes video games.

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