Scientific Games Announces Pricing of $125 Million of 9.25% Senior Subordinated Notes Due 2019
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Scientific Games Announces Pricing of $125 Million of 9.25% Senior
Subordinated Notes Due 2019
NEW YORK, Oct. 29 /PRNewswire-FirstCall/ -- Scientific Games Corporation
(Nasdaq: SGMS) announced today that its subsidiary, Scientific Games
International, Inc., has priced an additional $125 million of its 9.25% Senior
Subordinated Notes due 2019 at an issue price of 101.5%. The new notes will be
equal in right of payment with, of the same series as, and vote as a single
class on any matter submitted to holders of, Scientific Games International's
existing $225 million aggregate principal amount of 9.25% senior subordinated
notes due 2019. The notes will be issued in a private offering to qualified
institutional buyers in accordance with Rule 144A and to non-U.S. Persons
under Regulation S under the Securities Act of 1933, as amended (the
"Securities Act").
Scientific Games intends to use the net proceeds from the offering for general
corporate purposes, which may include the payment of a portion of its
potential obligations in connection with any award of a new Italian instant
ticket lottery concession (including potential upfront payment obligations),
the funding of any future acquisitions, capital expenditures and/or the
repayment or repurchase, through open market purchases or otherwise, of a
portion of its outstanding indebtedness.
The notes will not be registered under the Securities Act or any state
securities laws and, unless so registered, may not be offered or sold in the
United States except pursuant to an applicable exemption from the registration
requirements of the Securities Act and applicable state securities laws.
This press release does not and will not constitute an offer to sell or the
solicitation of an offer to buy the senior subordinated notes, nor shall there
be any sale of the senior subordinated notes in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state. This press release is being
issued pursuant to and in accordance with Rule 135c under the Securities Act.
Company Contact:
Investor Relations
Scientific Games
212-754-2233
Forward-Looking Statements
In this press release the Company makes "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward- looking statements describe future expectations, plans, results or
strategies and can often be identified by the use of terminology such as
"may," "will," "estimate," "intend," "continue," "believe," "expect,"
"anticipate," "could," "potential," "opportunity," or similar terminology.
These statements are based upon management's current expectations, assumptions
and estimates and are not guarantees of future results or performance. Actual
results may differ materially from those projected in these statements due to
a variety of risks and uncertainties and other factors, including, among other
things: competition; material adverse changes in economic and industry
conditions in the Company's markets; technological change; retention and
renewal of existing contracts and entry into new or amended contracts;
availability and adequacy of cash flow to satisfy obligations and indebtedness
or future needs; protection of intellectual property; security and integrity
of software and systems; laws and government regulation, including those
relating to gaming licenses, permits and operations; inability to identify,
complete and integrate future acquisitions; seasonality; ability to enhance
and develop successful gaming concepts; dependence on suppliers and
manufacturers; liability for product defects; factors associated with foreign
operations; influence of certain stockholders; dependence on key personnel;
failure to perform on contracts; resolution of pending or future litigation;
labor matters; and stock price volatility. Additional information regarding
risks and uncertainties and other factors that could cause actual results to
differ materially from those contemplated in forward-looking statements is
included from time to time in the Company's filings with the Securities and
Exchange Commission. Forward-looking statements speak only as of the date they
are made and, except for the Company's ongoing obligations under the U.S.
federal securities laws, the Company undertakes no obligation to publicly
update any forward-looking statements whether as a result of new information,
future events or otherwise.
SOURCE Scientific Games
Investor Relations, Scientific Games, +1-212-754-2233
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