IGT Plans to Redeem $500M in 2025 Notes with New Euro Bond Issuance
Portfolio Pulse from Benzinga Newsdesk
International Game Technology PLC (IGT) plans to issue new euro-denominated senior secured notes due 2030 to redeem $500M of its 2025 notes. The proceeds will also cover issuance costs and general corporate purposes.
September 10, 2024 | 7:06 am
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IGT is issuing new euro-denominated notes to redeem $500M of its 2025 notes. This move is aimed at managing its debt profile and potentially reducing interest expenses.
IGT's decision to issue new euro-denominated notes to redeem existing 2025 notes suggests a strategic move to manage its debt profile. This could lead to reduced interest expenses if the new notes have a lower interest rate than the existing 6.500% notes. The market may view this positively as it reflects proactive financial management.
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