After recently completing the purchases of NYX Gaming Group and Tech Art Incorporated, American gaming machine innovator Scientific Games Corporation (NASDAQ: SGMS) has now announced that it will be launching a private note offering in hopes of securing over $1.2 billion in new cash.

Las Vegas-headquartered Scientific Games Corporation detailed that the exercise is to be carried out by its Scientific Games International Incorporated subsidiary and will encompass $500 million in 5% senior secured notes featuring a 2025 due date alongside some €325 million ($404.4 million) in comparable notes that are to mature the following year.

Via a Monday press release, Scientific Games Corporation revealed that the exercise is to additionally comprise €250 million ($311.2 million) in senior unsecured notes that will come due in 2026 while the eventual proceeds are to be combined with an existing loan in order to redeem some of its existing 7% senior secured notes that mature in 2022. The firm moreover declared that a portion of the new cash is to be utilized in order to ‘pay accrued and unpaid interest thereon plus any related premiums, fees and costs and pay related fees and expenses of the new notes offering and for general corporate purposes’.

“The new notes will be guaranteed on a senior basis by Scientific Games Corporation and certain of its subsidiaries,” read a statement from Scientific Games Corporation. “The new 5% dollar notes and the secured Euro notes will be secured by liens on the same collateral that secures indebtedness under Scientific Games Corporation’s credit agreement.”