Milbank LLP advised SAZKA Group in connection with its high-yield bond offering of €300 million 3.875% senior notes due 2027. SAZKA Group used the proceeds of the bonds, together with cash on balance sheet, to repay and cancel certain existing debt. This was SAZKA Group’s second high-yield bond offering, following its offering in November 2019.
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 European Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis, special counsel Joji Ozawa and associates Melanie Probst and Ignacio Perez Bessio. The team also included New York Tax partner Eschi Rahimi-Laridjani and associate Archan Hazra and New York Alternative Investments partner Catherine Leef Martin.