LONDON, June 8, 2020
/PRNewswire/ -- International Game Technology PLC (NYSE: IGT)
("IGT") today announced that it intends to proceed with a
benchmark offering of senior secured notes denominated in U.S.
Dollars (the "Notes"), subject to customary market and
closing conditions (the "Offering").
Application has been made for the Notes to be
listed on the Official List of Euronext Dublin and admitted to
trading on the Global Exchange Market of Euronext Dublin.
IGT intends to use the proceeds from the Offering to fund an
offer to purchase for cash of up to an aggregate $300,000,000 principal amount (subject to
increase or decrease at the discretion of IGT) of its $1,500,000,000 6.250% Senior Secured Notes due
2022 (the "Tender Offer"), to repay utilizations and pay
related accrued interest under IGT's revolving credit facilities,
to pay certain debt issuance costs incurred in connection with the
Offering and certain fees and expenses incurred in connection with
the Tender Offer, to increase cash on hand or any combination of
the foregoing.
The Notes have not been, and will not be, registered under
the Securities Act of 1933, as amended (the
"Securities Act"), and may not be
offered or sold in the United States without registration
under the Securities Act or pursuant to an applicable exemption
from such registration.
The Notes are being offered and sold only (i) in the
United States to qualified institutional buyers in accordance
with Rule 144A under the Securities Act and (ii)
outside the United States to non-U.S. persons in
accordance with Regulation S under the Securities Act.
This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any security, nor shall there be
any sale of any security in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such
jurisdiction.
Neither the content of IGT's website nor any
website accessible by hyperlinks on IGT's website is
incorporated in, or forms part of, this news release.
The distribution of this news release into certain
jurisdictions may be restricted by law. Persons into whose
possession this announcement comes should inform themselves about
and observe any such restrictions. Any failure to comply with these
restrictions may constitute a violation of the securities laws of
any such jurisdiction.
In any European Economic Area Member State, this news release
is only addressed to and is only directed at qualified investors in
that Member State within the meaning of Regulation (EU)
2017/1129.
The communication of this news release and any other
documents or materials relating thereto is not being made, and such
documents or materials have not been approved, by an authorized
person for the purposes of Section 21 of the Financial
Services and Markets Act 2000, as amended (the
"FSMA"). Accordingly, such documents or materials are not
being distributed to, and must not be passed on to, the general
public in the United Kingdom. The communication of such
documents or materials is exempt from the restriction on financial
promotions under Section 21 of the FSMA on the basis that it
is only directed at and may be communicated to (i) persons who have
professional experience in matters relating to investments, being
investment professionals as defined in Article 19 of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the "Financial Promotion Order"); (ii) persons who
fall within Article 43(2) of the Financial Promotion Order; or
(iii) any other persons to whom these documents or materials may
lawfully be made under the Financial Promotion Order. Any
investment or investment activity to which this news release
relates is available only to such persons or will be engaged only
with such persons and other persons should not rely on it.
About IGT
IGT (NYSE:IGT) is the global leader in gaming. We deliver
entertaining and responsible gaming experiences for players across
all channels and regulated segments, from Gaming Machines and
Lotteries to Sports Betting and Digital. Leveraging a wealth of
compelling content, substantial investment in innovation, player
insights, operational expertise, and leading-edge technology, our
solutions deliver unrivalled gaming experiences that engage players
and drive growth. We have a well-established local presence and
relationships with governments and regulators in more than 100
countries around the world, and create value by adhering to the
highest standards of service, integrity, and responsibility. IGT
has approximately 12,000 employees. For more information, please
visit www.IGT.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release may contain forward-looking statements
(including within the meaning of the Private Securities Litigation
Reform Act of 1995) concerning International Game Technology PLC
and its consolidated subsidiaries (the "Company") and other
matters. These statements may discuss goals, intentions, and
expectations as to future plans, trends, events, dividends, results
of operations, or financial condition, or otherwise, based on
current beliefs of the management of the Company as well as
assumptions made by, and information currently available to, such
management. Forward-looking statements may be accompanied by words
such as "aim," "anticipate," "believe," "plan," "could," "would,"
"should," "shall", "continue," "estimate," "expect," "forecast,"
"future," "guidance," "intend," "may," "will," "possible,"
"potential," "predict," "project" or the negative or other
variations of them. These forward-looking statements speak only as
of the date on which such statements are made and are subject to
various risks and uncertainties, many of which are outside the
Company's control. Should one or more of these risks or
uncertainties materialize, or should any of the underlying
assumptions prove incorrect, actual results may differ materially
from those predicted in the forward-looking statements and from
past results, performance, or achievements. Therefore, you should
not place undue reliance on such statements. Factors that could
cause actual results to differ materially from those in the
forward-looking statements include (but are not limited to) the
uncertainty of the duration, extent, and effects of the COVID-19
pandemic and the response of governments, including
government-mandated property closures and travel restrictions, and
other third parties on the Company's business, results of
operations, cash flows, liquidity and development prospects and the
factors and risks described in the Company's annual report on Form
20-F for the financial year ended December
31, 2019 and other documents filed from time to time with
the SEC, which are available on the SEC's website at www.sec.gov
and on the investor relations section of the Company's website at
www.IGT.com. Except as required under applicable law, the Company
does not assume any obligation to update these forward-looking
statements. You should carefully consider these factors and other
risks and uncertainties that affect the Company's business. Nothing
in this news release is intended, or is to be construed, as a
profit forecast or to be interpreted to mean that the financial
performance of International Game Technology PLC for the current or
any future financial years will necessarily match or exceed the
historical published financial performance or International Game
Technology PLC, as applicable. All forward-looking statements
contained in this news release are qualified in their entirety by
this cautionary statement. All subsequent written or oral
forward-looking statements attributable to International Game
Technology PLC, or persons acting on its behalf, are expressly
qualified in their entirety by this cautionary statement.
Contacts
Phil
O'Shaughnessy, Global Communications, toll free in
U.S./Canada +1 (844) IGT-7452;
outside U.S./Canada +1 (401)
392-7452
Francesco Luti, +39 3485475493; for
Italian media inquiries
James Hurley, Investor Relations, +1
(401) 392-7190
View original content to download
multimedia:http://www.prnewswire.com/news-releases/international-game-technology-plc-announces-plans-to-issue-senior-secured-notes-denominated-in-us-dollars-301071942.html
SOURCE International Game Technology PLC