Scientific Games Corporation has announced that its wholly owned subsidiary, Scientific Games International Inc, has successfully completed a private offering of $1,100m in aggregate principal amount of new 8.250% senior unsecured notes due 2026 at an issue price of 100.000%.
The net proceeds of the notes offering will be used to redeem approximately $1bn of SGI’s outstanding 10.000% senior unsecured notes due 2022, pay accrued and unpaid interest thereon plus any related premiums, fees and costs, and pay related fees and expenses of the notes offering.
The notes are guaranteed on a senior basis by Scientific Games and certain of its subsidiaries, and are not secured.
They have not been registered under the Securities Act of 1933, as amended, or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
The Notes are offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A and to non-U.S. Persons under Regulation S under the Securities Act.