GTECH S.p.A. intends to redeem its €750,000,000 5.375% Guaranteed Notes due December 5, 2016 (ISIN: XS0471074822) (the “2016 Notes”) on December 8, 2014 (the “Redemption Date”).
The redemption price of the 2016 Notes will equal the sum of the then current values of the remaining scheduled payments of principal and interest of the 2016 Notes as of the Redemption Date discounted to the Redemption Date at a rate equal to the average annual yield to maturity of a reference German Bund plus 0.50% and interest accrued on the 2016 Notes to the Redemption Date. GTECH will use the proceeds of a utilization under its long-term committed revolving credit facility to fund the redemption price of the 2016 Notes.
Holders holding 87% of GTECH’s €500,000,000 5.375% Guaranteed Notes due February 2, 2018 (ISIN: XS0564487568) and holders holding 91% of GTECH’s €500,000,000 3.500% Guaranteed Notes due March 5, 2020 (ISIN: XS0860855930) have as at the November 6, 2014 early voting deadline submitted instructions in favour of the consent solicitation commenced by GTECH on October 23, 2014. Further details regarding the consent solicitation and the related noteholders’ meetings to be held in connection with the consent solicitation are set out in the Consent Solicitation Memorandum dated October 23, 2014.