Scientific Games Unveils Readiness to Sell $1,200.0m of Unsecured Notes

Award-winning provider of casino services, Scientific Games, has just disclosed a private offering of $1.200.0 million in unsecured senior notes. The offer will be done via its subsidiary, Scientific Games International, Inc. The company will include the notes due to 2028 and 2029.

More About the Plan

According to the SG intention, the complete net income of the company will be utilized in the proposal together with SG cash on hand and borrowings. It will allow the company to redeem the overall amount of $1.2 billion of 10.000% senior unsecured notes as well as $244.0 million of 6.250% senior subordinated notes. The company will also reimburse the whole amount of interests including additional s and fees of the Notes.

The Notes will be under the guarantee of Scientific Games as well as some of its subsidiaries. However, it will be without security.

The press release of SG states that the company’s Notes are not subject to regarding the Securities Act of 1933. Furthermore, unsecured notes couldn’t be sold in the United States territory unless it is officially permitted by the Securities Act and state securities laws. It is important to mention that SG Notes will be available to individuals who are believed to be “qualified institutional buyers“ and “non-US persons“.

A Warning

Scientific warns interested parties about the nature of press release. It states:

“This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor will there be any sale of the Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.“

Further on, we can read that nothing in the press release should be interpreted as an “offer to purchase, a notice of redemption or repurchase or a solicitation of an offer to purchase any of the outstanding 2022 Notes or 2020 Notes.“

About the Brand

SG Corp is one of the cutting edge providers of tech solutions. The company is dedicated to delivering updated products including robust systems, interesting content, and services. It is a leader in multiple sectors like gaming systems, digital real-money gaming, sports betting services, table products and instant games as well as a successful provider of lottery and social gaming content. Players can rest assured about the security and reliability of its products as the company regularly updates its features and gaming content.

Source:

“Scientific Games Announces Proposed Private Offering of $1,200.0 Million of Senior Unsecured Notes“, scientificgames.com, November 12, 2019.