Milbank Advises SAZKA Group on Its €600M Offering

Milbank LLP advised SAZKA Group in connection with its high-yield bond offering of €600 million (the “Offering”) in combined aggregate principal amount of notes comprising €200 million of additional (tap) 3.875% senior secured notes due 2027 issued by SAZKA Group a.s. and €400 million in aggregate principal amount of senior secured floating rate notes due 2028 issued by Allwyn Entertainment Financing (UK) plc.

SAZKA Group will use the proceeds from the Offering to repay in full amounts outstanding under its Slovak bonds and its revolving credit facility, to pay fees and expenses in connection with the Offering and, potentially, for bolt-on acquisitions. SAZKA Group is a leading multinational lottery operator and the largest pan-European lottery operator as measured by GGR.

The Milbank team was led by European Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis, special counsel Joji Ozawa and associates Dimos Papanikolaou and Iakovos Anagnostopoulos and legal assistant Matteo Bonacina. The team also included London Leveraged Finance partner Sarbajeet Nag and associates Tom Neilson and Simeon-Henri de Vries, and Corporate partner Andrej Wolf and associates Helen Sutcliffe and Lewis Whiteoak; New York Tax partner Eschi Rahimi-Laridjani and associates David Hanno and Anne-Sophie Tomé; London Tax partner Russell Jacobs and special counsel Andrew Callaghan.