Scientific Games begins cash tender offer for its 0.75% convertibles

By Susanna Moon

Chicago, Nov. 16 - Scientific Games Corp. said it began a cash tender offer for any and all of its $99,191,000 outstanding 0.75% convertible senior subordinated debentures due 2024.

The tender offer will expire at midnight ET on Dec. 14.

The company will pay $995 for each $1,000 principal amount of debentures tendered. Holders will also receive accrued interest.

The payment date is expected to be Dec. 17.

Funding will come from cash on hand and borrowings under the company's revolving credit facility.

J.P. Morgan Securities Inc. is the dealer manager for the tender offer. Global Bondholder Services Corp. (866 857-2200 or banks and brokers call 212 430-3774) is depositary and information agent.

Scientific Games is a New York-based supplier of technology-based products, systems and services to gaming markets.

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