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International Game wraps tender offer for 5½% notes and 5.35% notes
By Susanna Moon
Chicago, May 11 – International Game Technology plc said wholly owned subsidiary International Game Technology investors had tendered $175,857,000 of its $300 million 5½% notes due 2020 and $439,433,000 of its $500 million 5.35% notes due 2023.
As previously announced, the company will pay $1,010 for each $1,000 principal amount of notes.
The company will also pay accrued interest to but excluding the settlement date of May 13.
The offers ended at 5 p.m. ET on May 8.
The company previously said on April 28 holders had delivered the needed consents to amend the reporting covenants of two series of notes.
Holders of a majority of each series approved the changes.
The company sought to amend the reporting covenants to permit it to furnish the required information with respect to International Game Technology plc instead of with respect to the subsidiary as long as International Game Technology plc guarantees the notes.
The consent fee was $2.50 per $1,000 of notes for which consents were delivered by 5 p.m. ET on April 23.
International Game announced the solicitation on April 10. It also announced a change-of-control tender offer for the two series of notes, as required under the note indentures as a result of a change of control that occurred when Gtech SpA and the issuer completed their merger.
Wells Fargo, NA is the depositary and tabulation agent. D.F. King & Co., Inc. (800 884-5882, 212 269-5550 or igt@dfking.com) is the information agent.
International Game Technology is a gaming company based in Las Vegas. Gtech, formerly known as Lottomatica Group SpA, was based in Rome.
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