GTECH announces successful pricing of $5B senior secured notes for IGT acquisition

PROVIDENCE – GTECH S.p.A. has announced the successful pricing of a series of senior secured notes equivalent to approximately $5 billion to help finance the acquisition of International Game Technology.
Cleopatra Finance Limited conducted the offering, and will place proceeds from the notes offering into escrow, pending the IGT acquisition.
GTECH SpA will merge into Georgia Worldwide PLC in connection with the acquisition of IGT and will be listed on the New York Stock Exchange.
Georgia Worldwide PLC will then become the issuer of the notes, using proceeds from the offerings to pay cash for the acquisition of IGT, acquisition-related costs and to refinance certain existing indebtedness of GTECH and IGT. An application also has been made to list the notes on the Irish Stock Exchange.
Las Vegas-based IGT specializes in gaming equipment; GTECH’s board of directors approved the merger into Georgia Worldwide (NewCo) in September; NewCo’s board of directors also approved it.

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