![Milbank LLP [Joji Ozawa]](https://www.milbank.com/a/web/fyVQuggVU6rBLD2en8bqAY/8ADAMk/ozawa-joji-lon-web.jpg "Milbank LLP [Joji Ozawa]")
![Milbank LLP [Henry Madell]](https://www.milbank.com/a/web/tzEX9XcBoFvkERbgeiD1TU/8ToyYn/madell-henry-lon-web.jpg "Milbank LLP [Henry Madell]")
Milbank LLP advised SAZKA Group in connection with its high yield bond offering of €300 million 4.125% senior notes due 2024. SAZKA Group used the proceeds of the bonds, together with cash on balance sheet, to repay and cancel certain existing debt incurred in connection with its acquisition of 7.25% of the outstanding shares in Greece’s OPAP, on which Milbank advised SAZKA Group earlier this year.
SAZKA Group is one of the largest pan-European lottery operators with a long history of operations in the Czech Republic, Greece and Cyprus, Austria and Italy. SAZKA Group is 100% owned by KKCG, a multinational investment group founded by Karel Komárek specializing in long-term actively-managed investments, with over €6 billion of assets under management.
The Milbank team was led by London Capital Markets/Leveraged Finance partners Apostolos Gkoutzinis and Sarbajeet Nag, with special counsel Joji Ozawa and associates Ignacio Perez Bessio, Bernardo Zang, Maria Schweinberger, Henry Madell and Christopher Mooney and London Corporate associates Andrew Reilly and Gemma Cullen. The team also included New York Tax partner Eschi Rahimi-Laridjani and associate Archan Hazra and New York Alternative Investments partner Catherine Leef Martin.
