Light & Wonder, Inc. (NASDAQ and ASX: LNW) intends to offer $1 billion in senior unsecured notes due 2033 in a private offering.
The net proceeds will be used to repay outstanding borrowings, redeem existing notes, and for general corporate purposes.
The Notes will be guaranteed on a senior basis by Light & Wonder and certain subsidiaries.
The offering is not registered under the Securities Act and is limited to qualified institutional buyers and non-U.S. Persons.
Private Offering
LNWI is planning a private offering of $1 billion senior unsecured notes due 2033.
Use of Proceeds
The proceeds will be used to repay debts, redeem existing notes, and for general corporate purposes.
Guarantees
The Notes will be guaranteed by Light & Wonder and certain subsidiaries.
Offering Restrictions
The offering is limited to qualified institutional buyers and non-U.S. Persons.
- The private offering signals LNWI's strategic move to address financial obligations and pursue corporate objectives.
- By redeeming existing notes and repurchasing equity, LNWI aims to optimize its capital structure and enhance financial flexibility.
The proposed private offering of senior unsecured notes by Light & Wonder, Inc. demonstrates the company's proactive approach to financial management and strategic planning in the market.