ECONOMY

Intralot enters lock-up deal with noteholders

intralot-enters-lock-up-deal-with-noteholders

The Intralot Group on Thursday announced it has entered a lock-up agreement with an ad hoc group of noteholders, holding in excess of 75% of the 250 million euros senior unsecured notes due 2021, pursuant to which the parties agree to support the balance sheet optimization transactions.

Members of the bondholders group also hold in excess of 13% of the €500 million senior unsecured notes due 2024.

The lock-up agreement marks an important milestone in Intralot’s efforts to implement the transactions that will materially deleverage its balance sheet and enhance its maturity runway and liquidity.

This would facilitate the group in the execution of its business plan.