LONDON, April 28, 2015 /PRNewswire/ -- International
Game Technology PLC (NYSE:IGT, "IGT") and its wholly-owned
subsidiary, International Game Technology (the "Issuer"), today
announced the results of the Issuer's consent solicitations (the
"Solicitations") from holders of the two series of Notes described
in the table below (the "Notes") with respect to proposed
amendments relating to each series of the Notes.
Title of
Security
|
Principal Amount
Outstanding
|
CUSIP
No.
|
ISIN
No.
|
Cash Consent Fee
Per $1,000 Principal Amount
|
5.50% Notes due
2020
|
$300,000,000
|
459902 AS1
|
US459902AS13
|
$2.50
|
5.35% Notes due
2023
|
$500,000,000
|
459902 AT9
|
US459902AT95
|
$2.50
|
The Issuer received the requisite consents from holders of a
majority in outstanding principal amount of each series of Notes.
As a result, the Issuer executed amendments to the supplemental
indentures with respect to each series of Notes effecting the
proposed amendments, which amended the terms of the reporting
covenant of the Notes to permit the Issuer to furnish the required
information with respect to IGT instead of the Issuer if and for so
long as IGT fully and unconditionally guarantees the Notes. IGT
unconditionally guaranteed both series of the Notes on
April 22, 2015.
The consent fee of $2.50 in cash
per $1,000 principal amount of the
Notes will be paid to the consenting holders of such Notes on or
before April 29, 2015.
This announcement is for information purposes only and is
neither an offer to sell nor a solicitation of an offer to buy any
security. This announcement is also not a solicitation of consents
with respect to the amendment of any securities.
About the Issuer
The Issuer is a wholly-owned
subsidiary of IGT.
About IGT
IGT (NYSE:IGT) is the global leader in
gaming. We enable players to experience their favorite games across
all channels and regulated segments, from Gaming Machines and
Lotteries to Interactive and Social Gaming. Leveraging a wealth of
prime content, substantial investment in innovation, in-depth
customer intelligence, operational expertise and leading-edge
technology, our gaming solutions anticipate the demands of
consumers wherever they decide to play. We have a well-established
local presence and relationships with governments and regulators in
more than 100 countries around the world, and create value by
adhering to the highest standards of service, integrity, and
responsibility. IGT has approximately $6
billion in revenues and more than 13,000 employees. For more
information, please visit www.merger.igt.com.
Cautionary Statement Regarding Forward-Looking
Statements
This communication may contain forward-looking
statements (including within the meaning of the Private Securities
Litigation Reform Act of 1995) concerning International Game
Technology PLC ("IGT") and other matters. These statements may
discuss goals, intentions and expectations as to future plans,
trends, events, results of operations or financial condition, or
otherwise, based on current beliefs of the management of IGT as
well as assumptions made by, and information currently available
to, such management. Forward-looking statements may be accompanied
by words such as "aim," "anticipate," "believe," "plan," "could,"
"would," "should,", "shall", "continue", "estimate," "expect,"
"forecast," "future," "guidance," "intend," "may," "will,"
"possible," "potential," "predict," "project" or the negative or
other variations of them. These forward-looking statements are
subject to various risks and uncertainties, many of which are
outside IGT's control. Should one or more of these risks or
uncertainties materialize, or should any of the underlying
assumptions prove incorrect, actual results may differ materially
from those predicted in the forward-looking statements and from
past results, performance or achievements. Therefore, you should
not place undue reliance on such statements. Factors that could
cause actual results to differ materially from those in the
forward-looking statements include (but are not limited to) risks
that the businesses of International Game Technology and GTECH
S.p.A. will not be integrated successfully, following the recent
completion of their business combination, or that the combined
companies will not realize estimated cost savings, value of certain
tax assets, synergies, growth or other anticipated benefits or that
such benefits may take longer to realize than expected; risks
relating to unanticipated costs of integration of the two
companies; reductions in customer spending; a slowdown in customer
payments and changes in customer demand for products and services;
unanticipated changes relating to competitive factors in the
industries in which the company operates; ability to hire and
retain key personnel; the potential impact of the consummation of
the business combination on relationships with third parties,
including customers, employees and competitors; ability to attract
new customers and retain existing customers in the manner
anticipated; reliance on and integration of information technology
systems; changes in legislation or governmental regulations
affecting the company; international, national or local economic,
social or political conditions that could adversely affect the
company or its customers; conditions in the credit markets; risks
associated with assumptions the company makes in connection with
its critical accounting estimates and legal proceedings; and the
company's international operations, which are subject to the risks
of currency fluctuations and foreign exchange controls. The
foregoing list of factors is not exhaustive. You should carefully
consider the foregoing factors and the other risks and
uncertainties that affect the company's business, including those
described in IGT's registration statement on Form F-4 and other
documents filed from time to time with the Securities and Exchange
Commission (the "SEC"). Except as required under applicable law,
the company does not assume any obligation to update these
forward-looking statements. Nothing in this announcement is
intended, or is to be construed, as a profit forecast or to be
interpreted to mean that earnings per IGT share for the current or
any future financial years will necessarily match or exceed the
historical published earnings per IGT share, as applicable. All
forward-looking statements contained in this communication are
qualified in their entirety by this cautionary statement. All
subsequent written or oral forward-looking statements attributable
to IGT, or persons acting on its behalf, are expressly qualified in
its entirety by the cautionary statements contained throughout this
communication.
Contact:
Robert K.
Vincent, Corporate Communications, (401) 392-7452
James Hurley, Investor Relations,
(401) 392-7190
Simone Cantagallo, (+39) 06
51899030; for Italian media inquiries
Logo - http://photos.prnewswire.com/prnh/20150406/196736LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/international-game-technology-announces-receipt-of-requisite-consents-with-respect-to-800-million-notes-due-2020-and-2023-300073057.html
SOURCE International Game Technology PLC