Scientific Games gets 90% of its 0.75% convertibles in tender offer

By Susanna Moon

Chicago, Dec. 15 - Scientific Games Corp. said investors tendered $89,248,000 principal amount, or 89.98%, of its outstanding 0.75% convertible senior subordinated debentures due 2024.

The tender offer expired at midnight ET on Dec. 14.

The company said it expects that payment for the purchase will be made in same day funds on Dec. 17.

Scientific Games said on Nov. 16 that it began the cash tender offer for its $99,191,000 outstanding 0.75% convertibles.

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

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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