IGT to exercise its subsidiary’s 5.35% Notes due 2023 redemption option
Accrued interest on the notes will be paid in full next month.
IGT has opted to exercise its redemption option that includes its Nevada subsidiary’s 5.35% notes due 2023 in full. The full amount of its notes totals close to $61m.
The company expects to redeem the notes on January 23, 2023, “at a redemption price equal to the sum of the present values of the remaining scheduled payments of principal and interest.” This includes any accrued and unpaid interest as of October 15, 2022.
The company said any notes will stop accruing interest once they are paid in full by the due date.
IGT recently partnered with the Oregon Lottery to offer its video lottery account-based cashless solutions. Through its Intelligen central system, IGT will deploy more than 11,500 video lottery terminals (VLTs) across the state of Oregon.
Integrating Intelligen will allow the Oregon Lottery to create a website that gives lottery winners quick access to their prizes and place online where residents can create lottery accounts. The central system will connect all the state’s VLTs.
IGT also recently published its environmental, social and governance (ESG) score from Moody’s ESG Solutions. The organization gave IGT an “advanced” ESG score, which the company noted is an improvement when compared to last year’s rating.
The current score places IGT in the top 4% of all businesses Moody’s evaluates.
Moody’s ESG Solutions provides climate insights and ESG ratings for businesses around the globe and offers assessments for more than 4,800 companies. The organization is an affiliate of Moody’s Corporation. In addition to sustainability ratings, the company provides finance certifier services that help other groups get closer to their sustainability goals.
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