NEW YORK, May 20, 2014 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) ("Scientific Games") today announced that its wholly owned subsidiary, Scientific Games International, Inc. ("SGI"), has priced $350.0 million in aggregate principal amount of 6.625% senior subordinated notes due 2021 (the "2021 Notes") at an issue price of 99.321%. The 2021 Notes will be offered only to qualified institutional buyers in accordance with Rule 144A and to non-U.S. Persons under Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), and will be guaranteed by Scientific Games and certain of its subsidiaries. The 2021 Notes offering is expected to close on or about June 4, 2014, subject to customary closing conditions.
Scientific Games intends to use the net proceeds of the 2021 Notes offering, together with available cash, to redeem or repurchase all of SGI's outstanding 9.25% Senior Subordinated Notes due 2019 and to pay accrued and unpaid interest thereon plus any related premiums, fees and costs.
The 2021 Notes will not be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the 2021 Notes, nor will there be any sale of the 2021 Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.