Lottomatica to redeem €100 million of secured floaters due 2025

By Mary-Katherine Stinson

Lexington, Ky., April 21 – Italy-based multinational gaming company Lottomatica SpA issued a conditional notice of redemption for its floating-rate senior secured notes due 2025 (ISINs: XS2208646344, XS2208645882), according to a notice.

The company said €100 million of the outstanding €300 million Rule 144A and Regulation S bonds will be redeemed on May 3.

The redemption is conditioned on the completion of Lottomatica Group SpA’s initial public offering and the receipt of net cash proceeds sufficient to pay the applicable redemption price.

The redemption may be delayed or the notice rescinded or the conditions may be waived at the issuer’s sole discretion depending on the outcome of the public offering.

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