LONDON, May 11, 2015 /PRNewswire/ -- International Game
Technology PLC (NYSE:IGT) ("IGT") and its wholly-owned subsidiary,
International Game Technology, a Nevada corporation (the "Issuer"), announced
the expiration of the Issuer's offers (the "Offers") to purchase
for cash $800 million aggregate
principal amount of the two series of Notes described in the table
below (the "Notes") as of 5:00 p.m.,
New York City time, on May 8,
2015 (the "Expiration Date"). The Issuer made the Offers on
April 9, 2015 to satisfy the requirements of the respective
indentures governing the Notes as a result of the change of control
of the Issuer which occurred as a result of the
previously-announced completion of the combination of the
businesses of GTECH S.p.A. and the Issuer under IGT on
April 7, 2015.
Pursuant to the terms of the Offers, the Issuer has accepted for
purchase all Notes validly tendered and not validly withdrawn on
the Expiration Date at a purchase price equal to 101% of the
principal amount thereof plus any accrued and unpaid interest to,
but not including, the date of payment (expected to be on or before
May 13, 2015). The following table summarizes the Offers
and the results reported to the Issuer by Wells Fargo Bank,
National Association, the depositary and tabulation agent for the
Offers:
Title of
Security
|
Original
Principal
Amount
Outstanding
|
CUSIP
No.
|
ISIN
No.
|
Cash
Consideration
Per $1,000
Principal
Amount(1)
|
Principal
Amount
Tendered and
Accepted for
Purchase
|
5.50% Notes due
2020
|
$300,000,000
|
459902 AS1
|
US459902AS13
|
$1,010
|
$175,857,000
|
5.35% Notes due
2023
|
$500,000,000
|
459902 AT9
|
US459902AT95
|
$1,010
|
$439,433,000
|
(1) The Issuer will
also pay accrued and unpaid interest to, but not including, the
Payment Date, in connection with the Offers.
|
This news release is for informational purposes only and is
neither an offer to buy or sell nor a solicitation of an offer to
buy or sell any security.
About the Issuer
The Issuer is a wholly-owned
subsidiary of IGT.
About IGT
IGT (NYSE:IGT) is the global leader in
gaming. We enable players to experience their favorite games across
all channels and regulated segments, from Gaming Machines and
Lotteries to Interactive and Social Gaming. Leveraging a wealth of
prime content, substantial investment in innovation, in-depth
customer intelligence, operational expertise and leading-edge
technology, our gaming solutions anticipate the demands of
consumers wherever they decide to play. We have a well-established
local presence and relationships with governments and regulators in
more than 100 countries around the world, and create value by
adhering to the highest standards of service, integrity, and
responsibility. IGT has approximately $6
billion in revenues and more than 13,000 employees. For more
information, please visit www.merger.igt.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release may contain forward-looking
statements (including within the meaning of the Private Securities
Litigation Reform Act of 1995) concerning IGT and other matters.
These statements may discuss goals, intentions and expectations as
to future plans, trends, events, results of operations or financial
condition, or otherwise, based on current beliefs of the management
of IGT as well as assumptions made by, and information currently
available to, such management. Forward-looking statements may be
accompanied by words such as "aim," "anticipate," "believe,"
"plan," "could," "would," "should,", "shall", "continue",
"estimate," "expect," "forecast," "future," "guidance," "intend,"
"may," "will," "possible," "potential," "predict," "project" or the
negative or other variations of them. These forward-looking
statements are subject to various risks and uncertainties, many of
which are outside IGT's control. Should one or more of these risks
or uncertainties materialize, or should any of the underlying
assumptions prove incorrect, actual results may differ materially
from those predicted in the forward-looking statements and from
past results, performance or achievements. Therefore, you should
not place undue reliance on the forward-looking statements. Factors
that could cause actual results to differ materially from those in
the forward-looking statements include (but are not limited to)
macroeconomic conditions such as a disruption of or lack of access
to the capital markets, changes in the credit rating of U.S.
government securities, default or delay in payment by the United States of its obligations, changes
in general economic conditions or economic conditions in the
markets in which IGT may, from time to time, compete, and the
effect of those changes on IGT's revenues, earnings and capital
sources, IGT's ability to repay, refinance, restructure or extend
its indebtedness as it becomes due, and the conditions in the
credit markets, including the risks of currency fluctuations and
foreign exchange controls. The foregoing list of factors is not
exhaustive. You should carefully consider the foregoing factors and
the other risks and uncertainties that affect IGT's business,
including those described in IGT's registration statement on Form
F-4 and other documents filed from time to time with the Securities
and Exchange Commission (the "SEC"). Except as required under
applicable law, IGT does not assume any obligation to update the
forward-looking statements. Nothing in this news release is
intended, or is to be construed, as a profit forecast or to be
interpreted to mean that earnings per IGT share for the current or
any future financial years will necessarily match or exceed the
historical published earnings per IGT share, as applicable. All
forward-looking statements contained in this news release are
qualified in their entirety by this cautionary statement. All
subsequent written or oral forward-looking statements attributable
to IGT, or persons acting on its behalf, are expressly qualified in
their entirety by this cautionary statement.
Contact:
Robert K.
Vincent, Corporate Communications, (401) 392-7452
James Hurley, Investor Relations,
(401) 392-7190
Simone Cantagallo, (+39) 06
51899030; for Italian media inquiries
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SOURCE International Game Technology PLC