Paul Hastings Guides Banks on Tipico's Strategic Loan Restructuring
Deal News | Feb 14, 2025 | Paul Hasting
Paul Hastings LLP advised major global banks including Morgan Stanley, Nomura, Raiffeisen Bank International, and Crédit Agricole CIB in the financial restructuring of Tipico, a significant player in the German sports betting industry. Specifically, Paul Hastings facilitated in the repricing of Tipico’s existing 1.45 billion Euro term loan facility and guided the establishment of new 200 million and 175 million Euro term loan facilities. These financial maneuvers, conducted with the expertise of Global Finance partner Reena Gogna's team, underscore strategic use of capital raised for general corporate uses and potential acquisition financing. Tipico is a portfolio company of CVC Capital Partners, indicating strategic positioning within investment portfolios. Through its highly praised ability to execute complex legal and financial advisories, Paul Hastings continues securing its reputation as a top-tier global law firm.
Sectors
- Financial Services
- Sports Betting
- Legal Services
- Private Equity
Geography
- Germany – Tipico is a leading German sports betting company.
- Global – The involvement of multinational banks like Morgan Stanley, Nomura, and global law firm Paul Hastings.
Industry
- Financial Services – Involves major financial institutions like Morgan Stanley, Nomura, Raiffeisen Bank International, and Crédit Agricole CIB in restructuring loan facilities.
- Sports Betting – Pertains to Tipico, the target company, which operates in the sports betting industry.
- Legal Services – Paul Hastings provided legal advisory services for the loan restructuring.
- Private Equity – CVC Capital Partners as the owner of Tipico, indicates private equity involvement.
Financials
- 1.45 billion Euros – Existing term loan facility repriced for Tipico.
- 200 million Euros – New term loan facility established for Tipico.
- 175 million Euros – New term loan facility established for Tipico.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Paul Hastings LLP | Legal Advisor | Company | A global law firm advising on the financial restructuring of Tipico's loan facilities. |
| Morgan Stanley | Financial Advisor | Company | One of the banks advised by Paul Hastings in restructuring Tipico's loans. |
| Nomura | Financial Advisor | Company | One of the banks advised by Paul Hastings in restructuring Tipico's loans. |
| Raiffeisen Bank International | Financial Advisor | Company | One of the banks advised by Paul Hastings in restructuring Tipico's loans. |
| Crédit Agricole CIB | Financial Advisor | Company | One of the banks advised by Paul Hastings in restructuring Tipico's loans. |
| Tipico | Target Company | Company | A leading sports betting group in Germany, involved in the restructuring of its loan facilities. |
| CVC Capital Partners | Owner | Company | A private equity firm and owner of Tipico. |