International Game Technology amends three note series after merger

By Susanna Moon

Chicago, April 9 – International Game Technology plc, formerly known as Gtech SpA, said it amended three series of notes after completion of its merger with Gtech.

The three series of notes are the €500 million 5 3/8% guaranteed notes due 2018, €500 million 3½% guaranteed notes due 2020 and €750 million subordinated interest-deferrable capital securities due 2066.

The amendments consist of

• Guarantor accession: The notes are now guaranteed by Double Down Interactive LLC, Gtech Canada ULC, Gtech Foreign Holdings Corp., Gtech Germany GmbH, Gtech USA, LLC, IGT, International Game Technology and Lottomatica Holding Srl.

Also, the notes were amended to provide that if any subsidiary of the issuer that is not a guarantor issues a guarantee of any issuer/IGT relevant debt, the subsidiary will also guarantee the due payment of all sums from time to time payable by the issuer;

• Security: The notes receive the benefit of the same security over certain assets of the issuer and its subsidiaries that is being provided to the holders of some other debt of the issuer and its subsidiaries; and

• Jurisdiction: Changes also have been made to reflect the change in the jurisdiction of incorporation of the issuer to England from Italy under the merger, including the removal of provisions that are no longer relevant.

International Game Technology is a gaming company based in Las Vegas. Gtech, formerly known as Lottomatica Group SpA, was based in Rome.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.