GTECH’s Lottomatica 2018 bonds to yield 275 basis points over swaps

Lottomatica SpA’s sale of 500 million euros of bonds due February 2018 will yield 275 basis points more than the benchmark mid-swap rate, according to two people with knowledge of the transaction.

Lottomatica, the parent company of Providence-based GTECH, met with investors earlier this month in Europe ahead of a sale of senior unsecured and hybrid bonds. Credit Suisse Group AG, JPMorgan Chase & Co., Mediobanca SpA, Societe Generale SA and UniCredit SpA are managing the note sale.

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