Gaming supplier International Game Technology Plc. announced the conditional results of a tender offer for some of its senior secured notes due in 2020, saying that according to the preliminary results, it will repurchase the equivalent of €374.5 million (US$436.6 million) worth of outstanding notes.
The offer began on June 18 and expired on July 1. The IGT notes covered included the €700 million 4.125 percent senior secured notes due in 2020 and represented by the Regulation S global note, and the €500 million 4.750 percent senior secured notes due in 2020, which were issued with an initial coupon of 3.5 percent.
IGT stated that approximately €262.4 million of the aggregate principal amount of the 4.125-percent notes, and €112.1 million of the aggregate principal amount of the 4.750-percent notes, had been validly tendered in relation to the offer.
“Subject to satisfaction of all conditions set out in the offer to purchase, IGT intends to accept for purchase all of the notes tendered in the offer,” the company said in a press release.
BNP Paribas, Deutsche Bank and Société Générale acted as the managers for the exercise.
