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Clifford Chance and Allen & Overy Advise on EUR 640 Million Loan to Sazka Group

Clifford Chance and Allen & Overy Advise on EUR 640 Million Loan to Sazka Group

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Clifford Chance’s Prague office has helped the Sazka Group obtain a EUR 640 million senior secured loan. Allen & Overy advised the unidentified lenders on the deal, along with, reportedly, the Bernitsas Law Firm in Greece, Georgiades & Pelides in Cyprus, and CMS Reich Rohrwig Hainz in Austria.

The Sazka Group is an organizer of national lottery games, instant lotteries, and online lotteries, as well as digital gaming and sports betting. The company operates in Austria, Greece, Cyprus, Italy, and the Czech Republic.

According to Allen & Overy, “the proceeds of the financing will refinance several bilateral and syndicated facilities of the company and its subsidiaries.” According to the firm, “the deal is the first of its kind in the Czech Republic and Slovakia in that it brings the local bondholders (in the Czech Republic and Slovakia), international bondholders (under New-York-law-governed notes) and bank lenders under a common inter-creditor structure governed by English law.”

Clifford Chance’s team included Prague-based Partner Milos Felgr and Senior Associate Vladimir Rylich.

Allen & Overy’s team consisted of, in London, Partners Jeanette Cruz and Matthias Baudisch, Counsel Jan Skuhravy, Senior Associate George Chrysospathis, and Associate Jonathan Roberts; in Prague, Partner Petr Vybiral and Associates Pavel Prihoda and Tomas Kirner; in Bratislava, Counsels Peter Jedinak and Matus Kudlak; and in Milan, Associate Martina Gullino.

Editor's note: After this article was published, Bernitsas Law announced that it's team included Partner Nikos Papachristopoulos and Senior Associate Dionysis Flambouras.

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HAVEL & PARTNERS, attorneys-at-law, with offices in Prague, Brno, Bratislava, Pilsen, Olomouc, and Ostrava, has a team of 220 lawyers, tax advisors and 500 employees in total, is the largest independent law firm in Central Europe.

Our clients include large international companies, leading Czech and Slovak firms, including strategic state-owned companies and public sector authorities, as well as medium-size businesses, individual entrepreneurs, and investors. We advise approximately 100 of the Fortune 500 companies, and almost 50 of the Czech Top 100 companies. HAVEL & PARTNERS currently provides its services to a total of 2,000 clients. We have the most comprehensive international support available to both Czech and Slovak law firms. We provide legal and tax advice in 12 world languages in more than 90 countries around the globe. Up to 70 % of the transactions we deal with involve an international aspect.

HAVEL & PARTNERS was named the best law firm operating in the Czech Republic by the prestigious British rating agencies Chambers and Partners (2020) and Who’s Who Legal (2018, 2019). It is also the most successful law firm, providing the most comprehensive legal services in the Czech Republic and Slovakia, based on the total number of all nominations and awards in all years of the Law Firm of the Year awards. The firm became the absolute winner of this competition four times in the last six years, receiving the main award Domestic Law Firm of the Year in the Czech Republic (2015, 2017, 2018, 2020) and ranking as one of the most recommended law firms in all categories of law. Our company is also a three-time winner of the Law Firm of the Year award for Best Client Services (2015, 2016, 2019). In the field of M&A, HAVEL & PARTNERS is the best law firm in the Czech Republic based on the annual International Advisory Experts awards (2018, 2019). In Slovakia, it also won the prestigious global M&A Today Awards (2013–2018) for Mergers & Acquisitions six times in a row, and repeatedly won first place in the ranking by Lawyer International Legal 100 (2017, 2018). Prestigious international rating agencies EMIS DealWatch and Mergermarket have ranked HAVEL & PARTNERS among the leading law firms by the number of transactions completed in the entire CEE region since 2009. Based on annual awards of the Acquisition International magazine, HAVEL & PARTNERS has become the Law Firm of the Year 2019 in the M&A category in the CEE region.

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