GTECH Holdings Corp. of West Greenwich, a subsidiary of Italy’s Lottomatica, announced Sept. 1 that it intends to redeem 100 percent of the principal outstanding on each of its three series of senior notes:
4.75 percent senior notes due 2010 (the “2010 Notes”), issued in October 2003
4.50% senior notes due 2009 (the “2009 Notes”), issued in November 2004
5.25% senior notes due 2014 (the “2014 Notes”), issued in November 2004
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The redemption date for each series will be Oct. 2, the company said. At that time, interest will cease to accrue.
In accordance with the terms of the applicable indentures, the redemption price of each series will be the greater of either: (i) 100 percent of the outstanding principal amount of the notes being redeemed; or (ii) the sum of the present values of the principal amount of such notes and the remaining scheduled payments of interest on such notes (exclusive of interest accrued to the redemption date).
The sums paid will be discounted from the notes’ respective scheduled payment dates to the redemption date, on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months), but will also include accrued and unpaid interest (to the redemption date) on the principal amount being redeemed.
Payment will be made only upon presentation and surrender of the applicable senior notes, in the manner specified in notice the company said has been mailed to registered holders.
Copies of the applicable notice of redemption for the 2010 Notes may be obtained from The Bank of New York at (800) 254-2826; copies of the notice of redemption for the 2009 and 2014 Notes may be obtained from SunTrust Bank at (404) 588-7266.
