Chicago, Nov. 28 – Lottomatica SpA finished pricing on its €500 million floating-rate senior secured notes due 2030 (Ba3/BB-), according to a press release, a notice and additional information from a market source.
The notes priced with a Euribor plus 400 basis points coupon, discounted to 99.5.
The issue price comes at the rich end of the 99 to 99.5 price talk, while the spread comes on top of talk.
The Italy-based multinational gaming company dropped a proposed add-on to its 7 1/8% senior secured notes due June 1, 2028.
Deutsche Bank is the global coordinator and sole physical bookrunner in a syndicate of deal-runners that also includes Barclays, BNP Paribas, UniCredit, Banca Akros SpA and JPMorgan.
Proceeds plus available cash will be used 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 SpA.
| Issuer: | Lottomatica SpA
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| Amount: | €500 million
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| Issue: | Floating-rate senior secured notes
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| Maturity: | 2030
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| Bookrunners: | Deutsche Bank, Barclays, BNP Paribas, UniCredit, Banca Akros SpA and JPMorgan
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| Coupon: | Euribor plus 400 bps
|
| Price: | 99.5
|
| Trade date: | Nov. 28
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| Settlement date: | Dec. 14
|
| Ratings: | Moody’s: Ba3
|
| S&P: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 99 to 99.5 price talk, Euribor plus 400 bps
|
| ISINs: | XS2729669239, XS2729669742
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