IGT sanctions new €500 million senior debt note

Issuing a market filing, the governance of New York-listed International Game Technology Plc (IGT Plc) has confirmed that it will pursue a private €500 million senior unsecured note transaction.

Updating investors, IGT governance confirms that it has made an application for its notes to be officially sanctioned on the ‘Global Exchange Market’ of Ireland’s Euronext Dublin stock exchange.

IGT’s new debt note transaction carries a ‘2026 maturity date’, with governance confirming that proceeds will be used to repay outstanding corporate balances attached to former senior credit facilities utilised by the New York technology group.

In its filing, IGT governance confirms that its intended debt transaction will primarily be made available to ‘qualified US institutional buyers’, with non-US investors able to subscribe to the offering in accordance with the regulations of the United States’ ‘Securities Act’.

The transaction represents IGT’s second senior debt note placement recorded during the past twelve months.

In September 2018, IGT governance undertook a successful placement of   $750 million senior secured debt note due for 2027.