Light & Wonder, Inc has announced the successful completion by its wholly-owned subsidiary Light and Wonder International (LNWI), Inc of a private offering of US$1 billion in aggregate principal amount of new 6.250% senior unsecured notes due 2033 at an issue price of 100.000%.
According to information from the company, the proceeds of the offering will be used to repay all outstanding borrowings under LNWI’s revolving credit facility and to redeem all US$700 million of LNWI’s outstanding aggregate principal amount of 7.000% senior unsecured notes due 2028. Any remaining proceeds will be used for general corporate purposes, which may include repurchases of the company’s equity, it added.
