A&O Shearman advises on USD750 million Yankee bond issuance by Brightstar Lottery

The notes, issued pursuant to Rule 144A and Regulation S of the US Securities Act, have been listed on the Official List of Euronext Dublin and admitted to trading on the Global Exchange Market of Euronext Dublin.

Brightstar intends to use the net proceeds, together with cash on hand, to fund the redemption in full of its outstanding USD750m 6.25% Senior Secured Notes due 2027.

A&O Shearman advised the joint lead managers and the initial purchasers in the transaction with a cross-border team led by partner Trevor Ingram, supported by senior associate Evangelia Andronikou, and associates Ariel Alash and Arnaldo Mitola. In Italy, the team was led by partners Alessandra Pala and Pietro Scarfone, supported by associates Edoardo Brugnoli and Alessia Cellucci, and trainee Benedetta Girotti.

The multi-jurisdiction team also comprised partner Robert Burt and associate Bonnie Kwok (London), partners Michael Chernick (New York), and Jonathan Heeringa (Netherlands).

Partner Trevor Ingram commented: “We are delighted to have supported the banks on this transaction, which underscores our market-leading capability in complex cross-border Rule 144A/Reg S high-yield offerings and highlights also our ability to execute seamlessly across jurisdictions to deliver efficient refinancing outcomes for our clients.”