NEW YORK, June 2 /PRNewswire-FirstCall/ -- Scientific Games Corporation
(Nasdaq: SGMS) today announced that its subsidiary, Scientific Games
International, Inc., intends, subject to market and other conditions, to
offer $200 million aggregate original principal amount of senior
subordinated notes in a private offering to qualified institutional buyers
in accordance with Rule 144A and Regulation S under the Securities Act of
1933, as amended. It is expected that the notes will pay cash interest
through maturity of the notes. The notes are not proposed to be convertible
into common stock at any time.
Scientific Games intends to use the net proceeds from the offering,
together with the net proceeds of a new $250 million senior secured
revolving credit facility and a new $550 million senior secured term loan
credit facility, to repay all outstanding borrowings under its existing
senior credit facilities and for general corporate purposes.
This announcement is neither an offer to sell nor a solicitation of an
offer to buy any of these securities. The notes have not been registered
under the Securities Act of 1933, as amended, or applicable state
securities laws. Unless so registered, the notes 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.
Company Contact:
Investor Relations
Scientific Games
212-754-2233
Forward-Looking Statements
Certain statements in this press release which are not historical facts
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements, including those
relating to the intention to offer the notes and enter into the new senior
credit facilities, 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 prevailing market conditions, factors described from
time to time in our filings with the SEC, including our most recent Annual
Report on Form 10-K, and other factors. Forward-looking statements speak
only as of the date they are made, and except for our ongoing obligations
under the U.S. federal securities laws, we undertake no obligation to
publicly update any forward-looking statements whether as a result of new
information, future events or otherwise.
SOURCE Scientific Games Corporation
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Related links:
http://www.scientificgames.com
http://www.prnewswire.com/comp/117695.html /
CONTACT:
Investor Relations of Scientific Games,
+1-212-754-2233
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