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.