Scientific Games driving by with $350 million five-year senior notes; initial talk 8¾%-9%

By Paul A. Harris

Portland, Ore., June 17 – Scientific Games Corp. plans to price a $350 million offering of five-year senior notes (Caa2/B-) in a Wednesday drive-by, according to market sources.

Initial talk is 8¾% to 9%, a trader said.

J.P. Morgan Securities LLC is leading the deal.

The notes come with two years of call protection.

The Las Vegas-based gaming technology company plans to use the proceeds to redeem all $340.6 million of its outstanding 6 5/8% senior subordinated notes due 2021.

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