Brightstar Lottery PLC Unveils Senior Secured Notes Offering Due 2033

Brightstar Lottery PLC Announces Senior Secured Notes Offering

Brightstar Lottery PLC, listed on the NYSE under the symbol BRSL, has recently unveiled a major financial initiative: the offering of senior secured notes. This strategic move aims to bolster the company's capital structure while providing liquidity for future investments. With a due date set for 2033, these notes will play a crucial role in Brightstar’s ongoing efforts to enhance its financial standing and operational effectiveness.

Offering Details

The benchmark offering comprises senior secured notes, denominated in US dollars and due in 2033. These notes are not merely a financial tool; they represent a cornerstone of Brightstar's strategic vision for growth and stability in the competitive lottery industry. The offering will be co-issued by Brightstar Lottery PLC alongside Brightstar Global Solutions Corporation, its fully-owned subsidiary. The latter will guarantee the notes on a senior basis through select wholly-owned subsidiaries of Brightstar.

As the company is preparing for this significant offering, it has already applied for the notes to be listed on the Official List of Euronext Dublin. The intent is to admit them to trading on the Global Exchange Market of Euronext Dublin, a move that enhances visibility and liquidity in the European market.

Purpose of the Offering

Brightstar will utilize the proceeds from the offering, in conjunction with existing cash reserves, to redeem $500 million of its outstanding 6.25% Senior Secured Notes that are due in 2027. This redemption will involve a make-whole premium, which reflects the company's commitment to maintaining a strong financial position. Furthermore, part of the proceeds will be allocated towards covering certain debt issuance costs associated with this latest offering.

Market Considerations

It’s crucial to highlight that these notes have not been, and will not be, registered under the Securities Act of 1933. Hence, they cannot be offered or sold in the United States without appropriate registration or exemptions. This offering is exclusively available to qualified institutional buyers in compliance with Rule 144A of the Securities Act and to non-U.S. persons engaged in offshore transactions adhering to Regulation S.

Compliance and Restrictions

Investors and stakeholders must bear in mind that this announcement does not constitute an offer to sell or a solicitation for the purchase of securities, nor should it be viewed as a sale in jurisdictions where such solicitation would be illegal prior to registration. This is particularly important for potential investors residing in the European Economic Area, where the notes are intended solely for qualified investors as defined by the applicable regulations.

About Brightstar Lottery PLC

Brightstar stands as a beacon in the global lottery landscape, underpinned by its innovative technology and extensive experience in providing robust solutions. As a trusted partner for various governments and regulatory bodies, Brightstar is committed to adhering to the highest standards of service and responsibility, boasting a talented workforce of approximately 6,000 employees. The company's strategic offerings and digital solutions have made it a frontrunner in creating valuable benefits for the communities it serves.

In conclusion, Brightstar Lottery PLC's offering of senior secured notes due in 2033 marks a pivotal moment in its business trajectory. This financial maneuver not only reflects the company’s dedication to sustainability and growth but also sets the stage for continued success in the burgeoning lottery sector. For further updates and specifics on this offering, interested parties are encouraged to monitor announcements from Brightstar and consult the investor relations section of their official website.