Intralot Group Chairman and CEO, Mr. Sokratis Kokkalis, said: “Following extensive negotiations, the company has achieved a significant agreement to refinance its senior unsecured notes due 2021 and to deliver an important deleverage.
“This is a very important agreement, the successful completion of which will enable Intralot to capitalise on business growth opportunities in the gaming technology industry, and especially in the USA.”
Kokkalis said Intralot's main goal in regard to the agreement with bondholders was to serve the interests of all stakeholders, which includes groups of bondholders and shareholders.
He also added that the loan facility agreement was worth €147.6m ($175.46m) and that participation limits will be reached for the agreement with bondholders to be executed in a “consensual manner."
As for the first quarter of 2021, Kokkalis was upbeat about the organisation's financial results.
“We expect that the results for the second quarter will be just as good and according to the business plan, giving Intralot the opportunity to strengthen its position in strategic markets, through the utilisation of its technology and experience in the gaming industry,” added Kokkalis.
The main priority of the group is its subsidiary in North America, according to the Chairman and CEO, which has yielded the best results and has contributed to debt restructuring.
During the meeting, the election of new Board of Directors was approved, as Mrs. Adamantias Lazari and Mrs. Konstantina Xirokosta joined as new members.
