Italy-based lottery specialist GTech SpA has offered to pay cash plus interest to holders of EUR750 million (US$916.8 million) worth of its subordinated notes due in 2066 in order to buy them back.
The maximum amount of the consideration amounts – with interest – to 109.25 percent of the aggregate principal amount of the notes said GTech in a filing to Nasdaq in New York on Friday. That upper figure includes a 3 percent early tender premium and a consent fee of 0.25 percent.
The early tender deadline expires at 5pm Central European Time on January 7, 2015.
Holders of the notes will be asked to vote on dates between January 19 and January 21 inclusive in favour of the buy back. Those tendering early will be deemed to have voted in favour.
On December 17 GTech announced a EUR0.75 (US$0.92) per share interim dividend, payable on January 21, 2015, for an aggregate of approximately EUR130 million.
GTech in July announced it was acquiring Nevada-based slot machine maker IGT for US$6.4 billion, comprised of US$4.7 billion in cash and stock, and the assumption of US$1.7 billion in net debt. The deal is due to be completed in the first half of 2015.
GTech had approximately EUR3.1 billion (US$3.9 billion) in revenues and 8,600 employees in 2013, with operations in approximately 100 countries on six continents, according to the company.
Mar 18, 2019Sociedade de Jogos de Macau SA (SJM) – the Macau-registered unit that holds the gaming rights for SJM Holdings Ltd – announced on Monday a pay rise of between “2.5 percent and 8.3 percent”...
Mar 18, 2019
Mar 18, 2019
"When the gaming concessions expire, the Macau government is inclined to launch a public tender [for new gaming rights]"
Lionel Leong Vai Tac
Macau Secretary for Economy and Finance