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Lottomatica Group S.P.A. ( (IT:LTMC) ) just unveiled an announcement.
Lottomatica Group S.p.A. has launched an offering of €765 million senior secured notes due 2032, placed privately with institutional investors under Rule 144A and Regulation S. The notes will be secured against key bank accounts, intercompany loan receivables, and share capital in core subsidiaries, reinforcing collateral coverage for creditors.
Proceeds will be used to fully redeem €400 million of existing floating rate senior secured notes due 2031, support general corporate purposes including a share buyback and potential bolt-on acquisitions, and cover related fees and expenses. The issue, restricted from retail investors in the EEA and UK and subject to potential price-stabilization activities by the stabilizing manager, is set to refine Lottomatica’s debt profile and may enhance financial flexibility for strategic initiatives while limiting access to professional and qualified investors only.
The most recent analyst rating on (IT:LTMC) stock is a Buy with a EUR31.00 price target. To see the full list of analyst forecasts on Lottomatica Group S.P.A. stock, see the IT:LTMC Stock Forecast page.
More about Lottomatica Group S.P.A.
Lottomatica Group S.p.A. is an Italy-based gaming and betting operator active in the broader gambling and lottery sector. The company focuses on providing gaming services through various channels and operates with a capital markets profile that includes issuing secured debt instruments to finance its activities and optimize its capital structure.
Average Trading Volume: 1,091,280
Technical Sentiment Signal: Buy
Current Market Cap: €6.79B
See more data about LTMC stock on TipRanks’ Stock Analysis page.