by Stephen Carter
Dec 03, 2025 3:59 PM ET
+++Corrects coupon in the headline 5.75% (not 6.00%)+++
Brightstar Lottery PLC / Brightstar Global Solutions Corp (BRSL) $750m (up from $500m) 144A/Reg S sr sec notes due 01/15/33 (7y). NC3 (12/15/28) (MWC T+50bp), then at 102.875 12/15/28, 101.4381 12/15/29, 100 12/15/30. Ba1/BB+/BBB- (stable/stable/negative). Via BNP/BofA (B&D) jt glocos and physical books/Barc/Citizens/FITB/JPM/Scotia jt books, Key as co-manager. No reg rights. List Dublin. NY law. CoC at 101. Semi pay Jan 15 and July 15, starting 07/15/26 (30/360). Denoms: 200kx1k. Settles 12/15 (T+8). 144A CUSIP: 108922AA3; 144A ISIN: US108922AA38. IPT: Low 6s. Price talk: 6% area.
Priced: 5.75% at 100. +190bp vs 3.50% 02/15/33.
Roadshow (small group investor calls) 12/02 (investor call at 10am NYT / 3pm UKT 12/02) (BNP is coordinating logistics). Books closed at 10am NYT / 3pm UKT 12/03. UOP: along with $37m (up from $25m)cash on hand, to redeem all of its $750m (up from $500m) 6.25% sr sec notes due 01/15/27 (MWC T+50bp). Equity sponsor: De Agostini SpA. Biz: (fka Intl Game Technology) the world’s largest lottery operator, concessionaire of the largest instant ticket lottery and Italy's draw based lottery and holds facility management contracts with some of the largest lotteries in the US. HQ: London, UK.
DealRoadshow direct link: https://dealroadshow.com/e/CANYON25. Entry code: CANYON25.