Lottomatica approves issuance of senior bonds

By Emily Greenhalgh
PBN Web Editor
Twitter: @EGreenhalgh

PROVIDENCE – The board of directors of Lottomatica Group S.p.A., parent company of GTECH Corp., approved the issuance of a senior unsecured non-convertible bond, reserved for qualified investors outside the United States.

The approval is for a nominal amount of Euro 500 million, guaranteed by Lottomatica subsidiaries, including: GTECH Corp., GTECH Holdings’ Corp., GTECH Rhode Island LLC and Invest Games S.A.

Proceeds of the issuance will be used to repay Lottomatica’s existing indebtedness and for general corporation purposes.

According to a release, the bond issue will extend the average maturity of Lottomatica’s debt and strengthen the company’s overall liquidity conditions.