by Stephen Carter
Apr 24, 2025 8:09 AM ET
Lottomatica Group SpA (GAMENT) EUR1.1bn (up from EUR600m) 144A/Reg S sr sec notes due Jan 2031 (5.75y). NC2 (MWC B+50bp) (50%,25%,par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103. Ba2/BB (stable/stable). Via DB (B&D)/JPM jt glocos and physical books/Barc/BNP/GS/UniCredit jt books, Apollo, Akros-BPM, Mediobanca as co-managers. No reg rights. List Lux. NY law. CoC at 101. IPT: 5.25% area (+/- 12.5bp). Price talk: 5.00% area (+/- 12.5bp). EUR500m upsize to redeem its EUR500m FRN 12/15/30 (callable at 100).
Final terms: EUR1.1bn at 4.875%.
Roadshow (small group meetings) 04/23-24 (investor call at 2:30pm UKT 04/23). Books close at 1:30pm UKT (from 12pm UKT) 04/24. Pricing 04/24 UK afternoon. UOP: redeem its EUR565m 7.125% sr sec notes due 06/01/28 (10% at 103, and the rest at MWC B+50bp). Equity sponsor: Apollo (minority ownership of 31.6%, the rest is public float). Biz: leading gaming operator in Italy across all verticals. HQ: Rome, Italy.
Netroadshow link: https://www.netroadshow.com/events/login?show=2cd60787&confId=80574.