Simpson Thacher represented Cirsa Enterprises, S.L.U. in connection with a Rule 144A and Regulation S offering by its subsidiary of €700 million aggregate principal amount of €375 million 7.875% Senior Secured Notes due 2028 and €325 million Floating Rate Senior Secured Notes due 2028. The bond offering closed on July 19, 2023.
The proceeds from the offering were used to redeem Cirsa’s outstanding 6.25% Senior Secured Notes due 2023 and Floating Rate Senior Secured Notes due 2025, as well as to pay accrued and unpaid interest on the Notes being redeemed, fees and expenses in connection with the foregoing transactions, and for general corporate purposes.
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, gaming halls, on-line gaming and betting, and the manufacture of slot machines and gaming kits for the Spanish market.
The Simpson Thacher team included Gil J. Strauss, Srishti Gupta, Amanda Obi, Eusebio Lopez and Paul Boswell (Capital Markets); Antti I. Pesonen and Tom Lort (Banking & Credit); and Jonathan E. Cantor (Tax).