Sisal Holding Istituto di Pagamento S.p.A.’s High‑Yield Senior Secured Debt Offering

Cravath represented Sisal Holding Istituto di Pagamento S.p.A. in connection with its €275 million 144A/Reg. S high‑yield senior secured debt offering. Sisal Holding Istituto di Pagamento S.p.A., the second largest gaming company and the second largest convenience payment services provider in Italy at the time of the offering, is a portfolio company of a consortium of private equity sponsors including Apax Partners, Permira Advisers Limited and Clessidra. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on May 15, 2013.

The Cravath team included partner Philip J. Boeckman.