Playtech’s €350 Million High Yield Bond Reg S Offering

BCLP has advised Playtech PLC on the issuance of €350 million 4.25 percent senior secured notes due 2026, listed on the Official List of Euronext Dublin and to trading on the Global Exchange Market, which is the exchange-regulated market of Euronext Dublin.

The bonds have been assigned an issue rating of BB by S&P Global Ratings Europe Limited and Ba2 by Moody’s Investors Service Ltd. Banco Santander, S.A., NatWest Markets Plc, UBS AG, London Branch and UniCredit Bank AG are acting as joint active bookrunners on the transaction, and Citigroup Global Markets Limited is acting as passive bookrunner on the transaction. ABN AMRO Bank N.V., The Governor and Company of the Bank of Ireland and Goodbody Stockbrokers UC are acting as co-managers on the transaction.

The net proceeds of the issue of the new notes will be used to redeem on maturity all of the then outstanding €297 million senior convertible bonds due November 2019 (or, prior thereto, to purchase and cancel some or all of the outstanding convertible bonds) and pay accrued interest thereon, with the remainder used for general corporate purposes.

Playtech is the gambling industry’s leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry’s most popular product verticals, including casino, live casino, sports betting, virtual sports, bingo and poker.

The BCLP team comprised Prashanth Satyadeva (Picture), Mikhail Kleptsov and Henry Hillind (structured finance, London), Matthew Baker and Daniel Csefalvay (financial services regulatory, London) and Mimi Curran (commercial and information technology, London).

Gambling regulatory advice was provided by Wiggin LLP.

Involved fees earner: Matthew Baker – Bryan Cave Leighton Paisner; Daniel Csefalvay – Bryan Cave Leighton Paisner; Mimi Curran – Bryan Cave Leighton Paisner; Mikhail Kleptsov – Bryan Cave Leighton Paisner; Prashanth Satyadeva – Bryan Cave Leighton Paisner;

Law Firms: Bryan Cave Leighton Paisner;

Clients: Playtech;