---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-094510"
form_type: "8-K"
ticker: "LNWO"
cik: "0000750004"
company_name: "Light & Wonder, Inc."
filed_at: "2023-08-23T23:59:59+00:00"
generated_at: "2026-06-11T05:11:31.627611+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# LNW subsidiary issues $550M 7.500% notes due 2031 to refinance 8.625% notes due 2025

## Summary
- Light and Wonder International issued $550M 7.500% senior unsecured notes due 2031 at 100% of par.
- Net proceeds, plus cash on hand, will redeem all $550M of outstanding 8.625% senior notes due 2025.
- Interest rate drops by 1.125%, reducing annual interest expense.
- Notes are guaranteed on a senior unsecured basis by Light & Wonder and certain subsidiaries.
- Private offering to QIBs and non-U.S. persons under Rule 144A and Regulation S.

## SEC filing metadata
- accession: 0001104659-23-094510
- form_type: 8-K
- ticker: LNWO
- cik: 0000750004
- company_name: Light & Wonder, Inc.
- filed_at: 2023-08-23T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/750004/000110465923094510/0001104659-23-094510-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/750004/000110465923094510/tm2324367d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-094510
- JSON: https://secwatch.observer/filing/0001104659-23-094510.json
- Plain text: https://secwatch.observer/filing/0001104659-23-094510.txt

## Key facts
- Material Agreements
  Light & Wonder, Inc. entered into Indenture with Deutsche Bank Trust Company Americas valued at $550,000,000 aggregate principal amount of 7.500% senior unsecured notes due 2031 (effective 2023-08-23).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Deutsche Bank Trust Company Americas
  - Value: $550,000,000 aggregate principal amount of 7.500% senior unsecured notes due 2031
  - Effective: 2023-08-23
  source text: On August 23, 2023, Light and Wonder International, Inc. (“ LNWI ”), a wholly owned subsidiary of Light & Wonder, Inc. (the “ Company ”), issued $550.0 million in aggregate principal amount of senior unsecured notes due 2031 (the “ Notes ”) in a private offering to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “ Securities Act ”), and to non-U.S. persons under Regulation S under the Securities Act.
  evidence_url: https://www.sec.gov/Archives/edgar/data/750004/000110465923094510/0001104659-23-094510-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.