1 March 2023
Clifford Chance advises Allwyn in relation to €335m Accordion Facility
Clifford Chance has advised Allwyn, Europe’s leading lottery operator, in relation to its entrance into €335m of Accordion Facilities with a syndicate of international banks, including existing and new lenders.
A group of lenders has committed to provide Allwyn International a.s. (“Allwyn International“) €335m of 6 year term loans as Accordion Facilities under Allwyn International’s existing Senior Facilities Agreement. Allwyn International will use the proceeds to finance the acquisition of the Camelot Lottery Solutions group of companies and for general corporate purposes.
Kenneth Morton, CFO of Allwyn, commented: “This transaction will help us continue to grow our business, building on our successful €1.6bn syndicated bank financing in November 2022. I am grateful to our existing lending partners for their continued support and pleased to welcome the new banks to the group.”
The team from Clifford Chance working on this transaction was led by Partner Miloš Felgr together with Senior Associate Vladimír Rýlich, with support from Associate Tomáš Kubala.