Arendt advised on the LHMC Finco 2’s EUR 600 million senior secured PIK toggle notes issuance

Experts involved in the Deal

Arendt & Medernach has acted as legal advisor to LHMC Finco 2 S.à r.l. (“LHMC Finco 2”) as issuer on all Luxembourg law aspects in connection with a Rule 144A and Regulation S offering of EUR 600 million Senior Secured PIK Toggle Notes due 2030.

The proceeds from the offering were used to fully redeem LHMC Finco 2’s outstanding Senior Secured PIK Toggle Notes due 2025, to partially redeem Cirsa’s outstanding Floating Rate Senior Secured Notes due 2028 and to repay borrowings under Cirsa’s revolving credit facility, as well as to pay accrued and unpaid interest, to cover fees and expenses related to the transactions, and for general corporate purposes.

Cirsa, a Blackstone portfolio company, is a leading gaming company in Spain, Panama, Colombia, Costa Rica and the Dominican Republic, and a key player in Italy, Morocco and certain other Latin American countries, with an exceptional track-record of M&A transactions and a broad presence in different geographies and market segments.

Arendt & Medernach leveraged its comprehensive Luxembourg law expertise on the finance, corporate and tax side to facilitate LHMC Finco 2’s successful EUR 600 million Senior Secured PIK Toggle Notes offering, highlighting the firm’s capacity to handle complex cross-border financings and deliver robust structuring solutions.