GTECH S.p.A. (“GTECH”) today announced the closing of the offering of the following series of senior secured notes on February 13, 2015:
$600,000,000 5.625% Senior Secured Notes due 2020
$1,500,000,000 6.250% Senior Secured Notes due 2022
$1,100,000,000 6.500% Senior Secured Notes due 2025
€700,000,000 4.125% Senior Secured Notes due 2020
€850,000,000 4.750% Senior Secured Notes due 2023
As previously announced, GTECH will use the proceeds from the offering to pay part of the cash component of the merger consideration for the acquisition of International Game Technology (NYSE: IGT) (“IGT”) and acquisition-related costs and possibly to refinance certain existing indebtedness of GTECH and IGT. Following the closing, the commitment for GTECH’s 364-day senior bridge term loan credit facility for the financing of the acquisition of IGT (which had been reduced from approximately $10.7 billion to approximately $4.9 billion) was terminated.