LEVFIN SNAPSHOT: IGT Bonds Gain After Sale Agreed; Rekeep Slips
2020-12-07 14:14:34.418 GMT

By Libby Cherry
(Bloomberg) — Bonds issued by International Game
Technology rose after the firm said it had agreed to sell some
of its Italy-based businesses to Gamenet Group.
* Co’s EU500m bonds due April 2028 rose 1.3 cents on the euro to
99.3, the highest since February: data compiled by Bloomberg
** NOTE: IGT to Sell Italian B2C Gaming Business for EU950m
* Rekeep SpA’s EU360m notes due June 2022 fell 1 cent on the
euro to 102.7, the biggest decline since March
** The management services company said the Italian Supreme
Court had rejected its appeal on the Santobono case, meaning an
end to the suspension of a six-month ban on the firm’s legal
entity participating in public tenders: statement on Sunday
** Co. “would be able to manage the impact” of the litigation,
but there’s a “persistent risk of similar cases in the future​”:
Peter Low, credit analyst at Lucror Analytics, wrote in an email
to clients on Monday
** NOTE: January 2019, Rekeep Appeals to Top Italian Court to
Stop Public Tender Ban
* Pro-Gest SpA’s EU250m notes due December 2024 quoted at 94.1
cents, the highest since May 2019: CBBT data
** Pro-Gest said Carlyle signed a subscription agreement for new
privately placed bonds on Saturday
*** Carlyle will provide as much as EU200m in new financing for
the firm
** NOTE: Carlyle Raises Bet on Italy With Pro-Gest, Maccaferri
** “This new liquidity is a real game changer for the company as
it enables it to avoid the credit default”: Spread Research
analysts wrote in an email to clients on Monday