Scientific Games to redeem subordinated notes using offer proceeds

By Ashley Montgomery

Kansas City, Kan., Aug. 15 - Scientific Games Corp. plans to use the proceeds from its notes offering to redeem or repurchase all of its 7 7/8% senior subordinated notes due 2016, according to a news release.

The company's subsidiarity Scientific Games International, Inc. is offering $250 million of senior subordinated notes due 2020. The notes will be offered to qualified institutional buyers.

Proceeds from the offering will also be used for general corporate purposes.

Scientific Games is a New York-based provider of customized, end-to-end gaming services to lottery and gaming organizations.

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