Light & Wonder Announces Successful Completion of Notes Offering
23 Agosto 2023 - 5:05PM
Business Wire
Light & Wonder, Inc. (NASDAQ and ASX: LNW) (“Light &
Wonder” or the “Company”) today announced that its wholly owned
subsidiary, Light and Wonder International, Inc. (“LNWI”),
successfully completed a private offering of $550.0 million in
aggregate principal amount of new 7.500% senior unsecured notes due
2031 (the “Notes”) at an issue price of 100.000%.
The net proceeds of the Notes offering, together with cash on
hand, will be used to redeem all $550.0 million of LNWI’s
outstanding 8.625% senior unsecured notes due 2025 (the “2025
Notes”) and to pay accrued and unpaid interest thereon plus any
related premiums, fees and expenses.
The Notes are guaranteed on a senior basis by Light & Wonder
and certain of its subsidiaries, and the Notes are not secured.
The Notes have not been registered under the Securities Act of
1933, as amended (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. The Notes are offered only to persons
reasonably believed to be qualified institutional buyers in
accordance with Rule 144A and to non-U.S. Persons under Regulation
S under the Securities Act.
This press release does not and will not constitute an offer to
sell or the solicitation of an offer to buy the Notes, nor will
there be any sale of the 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. Nothing
in this press release should be construed as an offer to purchase,
notice of redemption or repurchase or a solicitation of an offer to
purchase any of the outstanding 2025 Notes. This press release is
being issued pursuant to and in accordance with Rule 135c under the
Securities Act.
About Light & Wonder
Light & Wonder, Inc. is the global leader in cross-platform
games and entertainment. Light & Wonder brings together
approximately 6,000 employees from six continents to connect
between land-based and digital channels with unmatched technology
and distribution. Guided by a culture that values daring teamwork
and creativity, the Company builds new worlds of play, developing
game experiences loved by players around the globe. Its
OPENGAMINGTM platform powers the largest digital-gaming network in
the industry. The Company is committed to the highest standards of
integrity, from promoting players responsibility to implementing
sustainable practices. For more information, please visit
www.lnw.com, which is updated regularly with financial and other
information about the Company. The information contained on, or
that may be accessed through, our website is not incorporated by
reference into, and is not part of, this document.
Forward-Looking Statements
In this press release, Light & Wonder makes “forward-looking
statements” within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements describe
future expectations, plans, results or strategies and can often be
identified by the use of terminology such as “may,” “will,”
“estimate,” “intend,” “plan,” “continue,” “believe,” “expect,”
“anticipate,” “target,” “should,” “could,” “potential,”
“opportunity,” “goal,” or similar terminology. These
forward-looking statements include statements related to the terms,
timing and completion of the offering of the Notes; the intended
use of proceeds of the Notes offering; and the completion of the
redemption of the 2025 Notes. These statements are based upon
management’s current expectations, assumptions and estimates and
are not guarantees of timing, future results or performance.
Therefore, you should not rely on any of these forward-looking
statements as predictions of future events. Actual results may
differ materially from those contemplated in these statements due
to a variety of risks and uncertainties and other factors,
including, among other things: the inability to consummate the
potential refinancing transaction on the terms described herein or
at all; the inability to otherwise reduce or refinance our
indebtedness; and the risk that we will not use the proceeds in the
manner anticipated.
Additional information regarding risks, uncertainties and other
factors that could cause actual results to differ materially from
those contemplated in forward-looking statements is included from
time to time in our filings with the SEC, including the Company’s
current reports on Form 8-K, quarterly reports on Form 10-Q and its
latest annual report on Form 10-K filed with the SEC on March 1,
2023 (including under the headings “Forward-Looking Statements” and
“Risk Factors”). Forward-looking statements speak only as of the
date they are made and, except for our ongoing obligations under
the U.S. federal securities laws, we undertake no obligation and
expressly disclaim any obligation to publicly update any
forward-looking statements whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230823680237/en/
Investor Relations: Nick Zangari +1 702-301-4278 Senior
Vice President, Investor Relations ir@lnw.com Media
Relations: Andy Fouché +1 206-697-3678 Vice President,
Corporate Communications media@lnw.com
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