Tipico Establishes New Loan Facilities with Paul Hastings' Guidance
Deal News | Feb 14, 2025 | Paul Hastings
Paul Hastings LLP has advised major banks including Morgan Stanley, Nomura, Raiffeisen Bank International, and Crédit Agricole CIB on the establishment of new loan facilities by Tipico, a prominent German sports betting entity and a portfolio company of CVC Capital Partners. These financial maneuvers involve repricing an existing €1.45 billion term loan facility and introducing new €200 million and €175 million term loan facilities. The additional proceeds are slated for general corporate purposes, with a particular focus on enabling financing for acquisitions. This strategic financial initiative was led by Global Finance partner Reena Gogna at Paul Hastings, along with the collaboration of other key partners and associates within the firm.
Sectors
- Finance
- Sports Betting
- Private Equity
Geography
- Germany – Tipico is a prominent German sports betting group, and the financial activities discussed are related to its operations.
- Global – The advisory and banking firms involved such as Morgan Stanley, Nomura, Raiffeisen Bank International, and Crédit Agricole CIB, operate on a global scale.
Industry
- Finance – The article discusses financial transactions involving the establishment of term loan facilities by Tipico, with the involvement of major banks and finance advisory.
- Sports Betting – Tipico, the main subject of the article, is a leading company in the sports betting industry, focusing on expanding its operations.
- Private Equity – CVC Capital Partners is mentioned as the parent company of Tipico, indicating involvement in private equity funding and portfolio management.
Financials
- €1.45 billion – The existing term loan facility being repriced by Tipico as part of the financial transaction.
- €200 million – The amount of one of the new term loan facilities Tipico has established.
- €175 million – The amount of the second new term loan facility established by Tipico.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tipico | Target Company | Company | A leading German sports betting group and the main subject of the financial transaction. |
| CVC Capital Partners | Owner/Private Equity | Company | The private equity firm that owns Tipico and oversees its strategic financial initiatives. |
| Paul Hastings LLP | Legal Advisor | Company | The law firm advising the banks and Tipico in the financial transaction. |
| Morgan Stanley | Bank | Company | One of the banks involved in establishing the loan facilities for Tipico. |
| Nomura | Bank | Company | A global financial services group involved in Tipico's loan facilities. |
| Raiffeisen Bank International | Bank | Company | A bank involved in the transaction providing financial services to Tipico. |
| Crédit Agricole CIB | Bank | Company | Another bank involved in supporting Tipico's financial restructuring. |
| Reena Gogna | Global Finance Partner | Person | Led the Paul Hastings team advising on Tipico's transaction. |
| Dr. J. Melchior Raiser | Partner | Person | Part of the Paul Hastings team working on the deal. |
| Lebo Latakgomo | Associate | Person | Part of the Paul Hastings team involved in the advisory process. |
| James Wilkins | Associate | Person | Part of the Paul Hastings team advising on the financial transaction. |
| Johannes Hilpert | Associate | Person | Associate member of the Paul Hastings team involved in the deal. |