Simpson Thacher Represents Deutsche Bank AG in €400 Million Debt Offering and Senior Credit Facility for Cirsa Gaming Corporation
05.07.10
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The Firm recently represented Deutsche Bank AG, London Branch as initial purchaser in an offering of €400 million of 8.75% Senior Notes due 2018 issued by Cirsa Funding Luxembourg S.A. and guaranteed by Cirsa Gaming Corporation, S.A. and certain of its subsidiaries. The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933. The Firm also acted for Deutsche Bank AG as agent and lender under a secured revolving credit facility.
Cirsa Gaming is the leading gaming company in Spain and also operates casinos and bingo halls in Latin America and slot machines and lotteries in Italy.
Proceeds of the offering were used to redeem previously issued high yield bonds and to repay other debt.
The Simpson Thacher team for the transaction included Gregory Conway, Wheatly Aycock and Susanne Lenz (Capital Markets), Stephen Short and Kiran Bhullar (Finance); and Meredith Jones and Seojung Park (Tax). The London paralegal team also provided valuable assistance.