Lottomatica starts roadshow for €500 million two-part notes offering

By Paul A. Harris

Portland, Ore., Nov. 27 – Lottomatica Group SpA kicked off a brief roadshow on Monday for a €500 million two-part offering of Lottomatica SpA senior secured notes (Ba3/BB-), according to market sources.

The deal includes a new tranche of floating-rate notes due 2030. The seven-year notes come with one year of call protection.

The second tranche will be comprised of an add-on to the 7 1/8% senior secured notes due June 1, 2028. Those notes become callable on June 1, 2025 at 103.563. The €565 million original issue priced in May 2023.

Tranche sizes remain to be determined.

The roadshow is scheduled to run through Tuesday.

Deutsche Bank is the global coordinator and sole physical books in a syndicate of deal-runners that also includes Barclays, BNP Paribas, UniCredit, Banca Akros SpA and JPMorgan.

The Italy-based multinational gaming company plans to use the proceeds plus available cash to finance the acquisition of sports betting firm SKS365 Malta Holding Ltd.

The acquisition was announced in November.

Lottomatica also announced that it has obtained an extension of its existing revolving loan facility for a total €50 million, contingent upon the completion of the acquisition.

Lottomatica SpA is a wholly owned subsidiary of Lottomatica Group.

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