GTECH announces closing of notes in connection with acquisition

PROVIDENCE – GTECH S.p.A. has announced the closing of the equivalent of $5 billion in senior secured notes and the termination of its bridge facility commitment in connection with its acquisition of International Game Technology.

GTECH, the world’s largest operator of lotteries, said it will use proceeds from this offering to pay part of the cash component of the merger with International Game Technology, as well as acquisition-related costs. Proceeds may also be used to refinance certain existing indebtedness of GTECH and IGT.
Following the closing, the commitment for GTECH’s 364-day senior bridge term loan for the financing of the IGT acquisition was terminated. The loan already had been reduced from approximately $10.7 billion to approximately $4.9 billion, according to the company.
GTECH SpA will merge into Georgia Worldwide PLC as a result of the acquisition of IGT and will be listed on the New York Stock Exchange. IGT, based in Las Vegas, is a global gaming equipment business.

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