Mar 17, 2021 Newsdesk Industry Talk, Latest News, Top of the deck  
Gaming equipment and services provider International Game Technology Plc says it plans to raise US$750 million gross via an issuance of 4.125-percent senior secured notes due in 2026.
The group said in a Tuesday announcement it intended to use the net proceeds “and proceeds of utilisations under IGT’s senior revolving credit facilities,” in order to “redeem its 6.250-percent senior secured notes due 2022”.
IGT has applied to list the new notes on the Irish Stock Exchange’s Euronext Dublin bourse.
The firm said settlement of the fresh notes was subject to “customary market and closing conditions” and was expected to occur on March 25.
The instruments are being offered and sold only to qualified institutional buyers.
On March 2, IGT announced a fourth-quarter and full-year net loss, the latter amounting to just under US$898.0 million, up from 2019′s net loss of US$19.0 million.
IGT had net debt of just under US$7.32 billion as of December 31, compared to US$7.39 billion as of the same date in 2019.
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”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”
Sherwin Gatchalian
Chairman of the Committee on Ways and Means of the Senate of the Philippines