INTRALOT 7-YEAR €250M BOND SUBSTANTIALLY OVERSUBSCRIBED COUPON AT 6%
INTRALOT announces the successful closing of its Senior Unsecured Notes (Bond) due 2021. The initial offering of €200m. was substantially oversubscribed and upsized to €250m. Numerous international investors and funds from Europe, North America and Asia participated in the offering, confirming international trust to the company’s prospects. The Notes’ coupon was set at 6% and the yield at 6,125%.
The Notes will be issued by the Group’s subsidiary INTRALOT Capital Luxembourg S.A., a public limited liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg. The Notes are expected to be listed on the Luxembourg Stock Exchange’s Euro MTF market.
The proceeds will be used to repay existing bank debt and for general corporate purposes. The Notes will improve the company’s long-term liquidity and strengthen its funding base.
Citigroup, Deutsche Bank, J.P. Morgan, Société Générale acted as Global Coordinators; Nomura, Alpha Bank and Eurobank as joint Book Runners; and Banca IMI, Berenberg and Geniki Bank as co-managers of the transaction.
Mr. Antonios Kerastaris, INTRALOT Group Chief Financial Officer, stated: “We are extremely pleased with the warm acceptance of our bond by the international investment community. We held a series of meetings with more than 150 funds in London, Paris and Frankfurt and we were pleased to see the increased interest towards INTRALOT. The significant reduction of the coupon, as well as the increase of the Notes’s duration to seven years demonstrate emphatically the confidence of the investment community towards the INTRALOT Group and its prospects”.
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content, sports betting management and interactive gaming services to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting, Racing & Video Lottery operations and its leading-edge technology, give INTRALOT a competitive advantage, which contributes directly to customers’ efficiency, profitability and growth. With presence in 57 jurisdictions, more than 5.700 people and revenues of €1,54 billion for 2013, INTRALOT has established its presence on all 5 continents.