Cirsa Completes Offering of Floating Rate Senior Secured Notes
08.05.19
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Simpson Thacher represented Cirsa Enterprises, S.L.U. in connection with a Rule 144A and Regulation S offering by its subsidiary of €490 million Floating Rate Senior Secured Notes due 2025. The bond offering closed on August 2, 2019.
The proceeds from the offering were used to redeem in full the outstanding principal amount of Cirsa’s Floating Rate Senior Secured Notes due 2023 and a portion of Cirsa’s 7.875% Senior Secured Notes due 2023, as well as for general corporate purposes and to pay fees and expenses in connection with the foregoing transactions.
Cirsa is a leading gaming company in Spain, Italy and a number of countries in Latin America, engaged in the operation of slot machines, casinos and bingo halls, and the manufacture of slot machines and gaming kits for the Spanish market.
The Simpson Thacher team included Gil J. Strauss, Srishti Gupta and John Loubriel (Capital Markets); Antti I. Pesonen, Kavita Davis and Harriet Bamford (Credit); and Kelli Rivers (Tax).