SNAI to sell up to €570 million five-year notes for debt refinancing

By Paul A. Harris

Portland, Ore., Oct. 24 – SNAI SpA announced in a Monday press release that its board of directors authorized the sale of €570 million of senior secured notes due 2021 for purposes of refinancing debt.

Proceeds, together with cash, will be used to finance a tender offer for the €320 million of senior secured notes due 2018, €160 million senior subordinated notes due 2018 and €110 million senior secured notes due 2018.

The prospective issuer is a Milan, Italy-based gaming company.

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