Commentary & Deal Flow

Lottomatica SpA (GTKIM) EUR350m 144A/Reg S sr sec notes due 2027 (5y). NC2 (50%,25%,par). B1/B (stable/stable). Via Barc (B&D)/DB jt glocos/CS/GS/JPM/UniCredit jt books. No reg rights. List Lux. NY law. IPT 10% area. Px talk: 9.75%-10.00%.

Final terms: 9.75% coupon at par.

Did investor call at 4pm UKT Tues (1x1s Tues/Weds). Books closed at 12:30pm UKT today (books 3x covered). Pricing today UK afternoon. UOP: potential strategic investments or acquisitions, and GCP. Biz: leading gaming operator in Italy across all verticals. HQ: Rome, Italy.