Schumann S.p.A.’s Senior Secured Floating and Fixed Rate Debt Offering

Cravath represented the initial purchasers, led by Morgan Stanley, Credit Suisse and UniCredit Bank, in connection with the €725 million senior secured floating and fixed rate debt offering of Schumann S.p.A., a portfolio company of the private equity sponsor CVC. Proceeds of the offering will be used to fund the acquisition of Sisal Group S.p.A., one of the leading operators in the Italian gaming and betting market. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on July 28, 2016.

The Cravath team included partner Philip J. Boeckman, European Counsel Alan G. Grinceri and associates Jonathan Coleman, Paolo Bernasconi and Giorgio Ignazzi. Summer associate Naeem H. Crawford‑Muhammad also worked on this matter.