International Game Technology PLC (“IGT“) and its wholly-owned subsidiary, International Game Technology (the “Issuer“), today announced the expiration of the Issuer’s previously announced offer (the “Offer“) to purchase for cash any and all of the outstanding $500 million aggregate principal amount of the Issuer’s 7.50% notes due 2019 (the “Notes“) from the holders thereof at a purchase price equal to US$1,106.25 per US$1,000.00 of the principal amount of the Notes (the “Tender Offer Consideration“) plus any accrued and unpaid interest from, and including, the immediately preceding interest payment date up to, but excluding, June 21, 2017 (the “Settlement Date“).
The Offer was made upon the terms and subject to the conditions set forth in the Offer to Purchase dated June 12, 2017 (the “Offer to Purchase“) and the related Notice of Guaranteed Delivery (collectively, the “Offer Documents”).
The Offer expired at 5:00 p.m., New York City time, on June 16, 2017 (the “Expiration Date“). According to information provided by D.F. King & Co., Inc., the tender and information agent for the Offer, as of such time, $356,415,000 aggregate principal amount of the Notes were validly tendered (and not validly withdrawn) pursuant to the Offer. These amounts include $797,000 aggregate principal amount of Notes tendered pursuant to the guaranteed delivery procedures described in the Offer Documents, which remain subject to the holders’ performance of the delivery requirements under such procedures. The Issuer has accepted for purchase all Notes validly tendered (and not validly withdrawn) at or prior to the Expiration Date. The Tender Offer Consideration plus accrued and unpaid interest as described above is expected to be paid on the Settlement Date for such Notes.
Citigroup Global Markets Limited and J.P. Morgan Securities LLC acted as the Lead Dealer Managers for the Offer and BofA Merrill Lynch acted as a Dealer Manager for the Offer.
This news release is for information purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security. This news release is also neither an offer to purchase nor a solicitation of an offer to sell any security. The Offer is made only by, and pursuant to the terms of, the Offer to Purchase, and the information in this news release is qualified by reference to the Offer to Purchase. No recommendation is being made as to whether holders of the Notes should tender their Notes. The Offer is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer under applicable state or foreign securities or “blue sky” laws