GTech SpA, a lottery and casino equipment specialist, announced the signing of a new $2.6 billion five-year senior facility agreement with a syndicate of 20 banks led by JP Morgan Ltd and Mediobanca-Banca-Banca di Credito Finanziario SpA. The agreement also includes its wholly-owned subsidiary GTech Corp, the Italy-based company said in a statement on Wednesday.

Revolving credit facilities were up from $2 billion initially requested due to large oversubscribers, GTech SpA said.

The agreement provides GTech Corp with a multicarcity revolving credit facility worth US$1.4 billion and GTech SpA with an 850 million euro (US$1.06 billion) multicarcity revolving credit facility.

On Tuesday, shareholders of GTech SpA approved a $6.4 billion acquisition of U.S.-based slot machine maker International Game Technology (IGT) into a subsidiary called Georgia Worldwide Plc.

Upon completion of the deal, Georgia Worldwide will be able to borrow from both facilities, GTech SpA said. Upon completion of the IGT acquisition, the U.S. dollar facility will grow to $1.5 billion and “IGT will be able to borrow from U.S. dollar facilities,” it added.

GTech SpA said the facility will be used for general corporate purposes. This includes repayment of outstanding amounts under the term and multi-currency revolving credit facility for GTech SpA and its affiliates, due to expire in December 2015, and refinancing on certain debt securities issued by the parent company.

In addition, upon completion of the acquisition, the U.S. dollar facility will be used to repay outstanding amounts under IGT’s revolving credit facility. 바카라사이트 추천

The company said last week that bridging loans needed to acquire IGT would be $500 million less than originally expected.