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Stock impact report

Light & Wonder Announces Successful Completion of Notes Offering

Light & Wonder, Inc. (LNW) 
Company Research Source: Business Wire
LAS VEGAS--(BUSINESS WIRE)--Light & Wonder, Inc. (NASDAQ and ASX: LNW) (“Light & Wonder” or the “Company”) today announced that its wholly owned subsidiary, Light and Wonder International, Inc. (“LNWI”), successfully completed a private offering of $1 billion in aggregate principal amount of new 6.250% senior unsecured notes due 2033 (the “Notes”) at an issue price of 100.000%.The net proceeds of the Notes offering will be used to (i) repay all outstanding borrowings under LNWI’s revolving credit facility, (ii) redeem all $700.0 million of LNWI’s outstanding aggregate principal amount of 7.000% senior unsecured notes due 2028 (the “2028 Notes”), including related fees and expenses, and (iii) with any remaining net proceeds for general corporate purposes, which may include repurchases of the Company’s equity.The Notes are guaranteed on a senior basis by Light & Wonder and certain of its subsidiaries, and the Notes are not secured.The Notes have not been registered under the Securit Show less Read more
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