A&O advises initial purchasers in connection with EUR1.3 billion (equivalent) high yield issuance by Allwyn

A cross-border team from Allen & Overy in London and Prague has advised the initial purchasers in relation to a EUR1.3 billion (equivalent) high yield issuance by Allwyn, comprising EUR665 million 7¼% senior secured notes due 2030 and USD700 million 7⅞% senior secured notes due 2029 issued by Allwyn Entertainment Financing (UK) plc. Allwyn will use the net proceeds from the issuance of the notes to redeem existing notes, repurchase preferred shares issued by its parent company, Allwyn AG, repay certain drawings under its revolving credit facility and for general corporate purposes.