Scientific Games Corporation announced that its wholly owned subsidiary, Scientific Games International, Inc., intends, subject to market and other conditions, to commence an offering of 0 million of senior secured notes due 2025 in a private offering.
Scientific Games intends to use the net proceeds of the notes offering, together with cash on hand and borrowings under the company’s existing revolving credit facility, to finance the company’s pending acquisition of NYX Gaming Group Limited and its subsidiaries, including the refinancing of certain indebtedness of NYX, and to pay related fees and expenses.
The offering of the notes is not conditioned upon the consummation of the NYX acquisition. If the NYX Acquisition is not consummated for any reason, the company intends to use the net proceeds from the offering of the notes for general corporate purposes, which may include the prepayment of term loan borrowings under the company’s existing credit agreement.
The notes will be guaranteed on a senior basis by Scientific Games and certain of its subsidiaries. The notes will be secured by liens on the same collateral that secures indebtedness under Scientific Games’ existing credit agreement and SGI’s 7 percent senior secured notes due 2022.
