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Scientific Games to sell $225 million convertibles
New York, Nov. 30 - Scientific Games Corp. said it plans to sell $225 million of convertible senior subordinated debentures. There will also be a $25 million greenshoe.
Proceeds will be used to repay part of the company's term loan.
The New York provider of services, systems and products to the instant ticket lottery industry and the pari-mutuel wagering industry said it plans to enter into convertible bond hedge transactions to reduce the potential dilution upon conversion of the debentures.
The convertibles will be sold under Rule 144A. No further details were disclosed.
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