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Safari Verwaltungs's High‑Yield Senior Secured Notes Offering

Cravath represented the initial purchasers, led by J.P. Morgan Securities, in connection with the €350 million 144A/Reg. S high‑yield senior secured notes offering of Safari Verwaltungs GmbH (Löwen Play), one of the largest arcade operators in Germany. Proceeds of the offering will be used to finance the acquisition of the shares in APEP GmbH and Safari Holding GmbH and to make a shareholder distribution, among other purposes. Application was made to The International Stock Exchange Authority Limited for listing of and permission to deal in the notes on the Official List of The International Stock Exchange. The transaction closed on December 15, 2017.

The Cravath team included partner Philip J. Boeckman and associates Yannick Adler and Magdalena Biereder.