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INTRALOT Announces the Completion of the Agreement with Noteholders

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INTRALOT announces First Quarter 2022 Financial Results
Reading Time: 2 minutes

 

Issuance of New Notes and total deleverage of € 163mil.

This press release relates to the disclosure of information that prior to publication qualified, or may have qualified, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation 596/2014.
Not for release, publication or distribution to any person located or resident in any jurisdiction where it is unlawful to distribute this press release.

Further to the announcement dated 30th July 2021 for the closing of the process of the two Exchange Offers related to the Notes issued by Intralot Capital Luxemburg S.A. maturing in 2021 and 2024, Intralot S.A. Integrated Lottery Systems and Services (“Intralot”) announces the final settlement of these transactions as follows:

  1. On August 3, 2021, New Notes with a nominal value of $242,111,911 due September 2025 were issued by US based Intralot, Inc., in exchange for existing Notes maturing in September 2021 with nominal value of €247,471,724.07 (corresponding to an 18% discount), which were then cancelled.
  2. The transfer of shares from Intralot Global Holdings B.V., amounting to 34.27% of the share capital of Intralot US Securities B.V. (indirect parent of Intralot, Inc.), to the holders of existing 2024 Notes with a nominal value of €118,240,000 who participated in the exchange. Following the above procedure, these Notes came to the possession of Intralot Global Holdings B.V. Intralot retains control of 65.73% of Intralot, Inc. and the management of the company.

The Chairman and CEO of the company Mr. Sokratis Kokkalis noted: «Today is a historic day for Intralot, achieving its two goals related to its capital structure, to refinance the Notes due September 2021 and to reduce by €163m its total debt liabilities. The new capital structure significantly improves the position of the company, and its capabilities to take advantage of new opportunities in the developed markets, based on its strategic planning. The entry of significant institutional investors into the share capital of the parent of Intralot, Inc., also expands the company’s capabilities in a competitive and very promising market. I warmly thank all my associates and employees of the company for their contribution to this success».

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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