Scientific Games pursues further $1 billion debt note

Issuing a market update, Nasdaq-listed industry technology group Scientific Games Corporation (SGC) has announced that it will move to offer (subject to market conditions) $1.1 billion in senior unsecured debt notes.

SGC’s latest debt transaction will be offered to private investors through wholly owned subsidiary Scientific Games International, with the technology group detailing that the unsecured debt notes will be due on 2026.

Updating investors, SGC governance intends to use the debt proceeds to redeem approximately $1.0 billion of its outstanding 10.000% senior unsecured notes transaction due in 2022.

The Nasdaq enterprise will further utilise funds to pay back accrued interest and further debt related premiums, fees and costs and pay related fees and expenses.

The unsecured debt transaction will be guaranteed on a senior basis by Scientific Games and certain of its subsidiaries.

Seeking to expand its digital services and operational capacity, following its $630 million acquisition of NYX Gaming (completed January 2018), SGC governance moved to secure a 1 billion $/€ tranche debt financing round, undertaken in February 2018.

Further 2018 events, saw SGC governance incorporate a new ‘revenue recognition accounting’ model incorporating new divisions and the firm’s enlarged debt capacity.

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