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Intralot announced the launch of 450m 7-year bond offering

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Intralot announced yesterday it will proceed with an offer of €450m senior notes due in 2024.

The proceeds from the offering will be used to fully redeem the 6% notes due in 2021 (€250m nominal) and to repay the outstanding syndicated facilities.

The news is in sync with management’s recent comments, since during the Q2 conference call mgt had stressed it continued to monitor the market and intended to take advantage of a potential window of opportunity so as to extend its debt maturities.

The new offering will enable Intralot to reprofile its debt, as the bulk of its €663m gross debt expires in 2021.
 
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