IGT buys back $436.6M outstanding notes

Gaming tech firm International Game Technology PLC (IGT) is repurchasing some of its outstanding notes for a sum of €374.5 million ($436.6 million).

On Tuesday, IGT announced that it has completed a tender offer to buy back outstanding senior secured notes due 2020 from its holders. The note tender offer was intended for extending the weighted average maturity company’s debt, according to IGT.

The offer includes the €700-million ($816.16 million) 4.125 percent Senior Secured Notes duein 2020 and represented by the Regulation S global note; and the €500-million ($582.9 million), 4.75 percent senior secured notes due in 2020, which were issued with an initial coupon of 3.5 percent.

Holders were offered €1,050 ($1,224.24) for each €1000 ($1,165.94) principal amount of the 4.125 percent Notes and €1,070 ($1,247.56) for each €1,000 (1,165.94) principal amount of the 4.75 percent Notes.