Gil J. Strauss

Simpson Thacher represented Flutter Treasury DAC, a wholly owned indirect subsidiary of Flutter Entertainment plc, in connection with a Rule 144A and Regulation S offering of $525 million in aggregate principal amount of 6.375% Senior Secured Notes due 2029 and €500 million in aggregate principal amount of 5.000% Senior Secured Notes due 2029. The offering closed on April 29, 2024.~~The proceeds from the offering were used (i) to repay borrowings under the existing syndicated facility agreement dated July 10, 2018, (ii) to repay borrowings under the existing multi-currency revolving credit facility and (iii) to pay certain costs, fees and expenses in connection with the offering.~~Flutter is the world’s leading online sports betting and iGaming operator, with leading positions in markets across the world, including the United States. Flutter operates a diverse portfolio of leading online sports betting and iGaming brands including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, Tombola, Betfair, MaxBet, Junglee Games and Adjarabet.~~The Simpson Thacher team included Gil Strauss, Alexander Yeagley and Julia Szinovatz (Capital Markets); Shahpur Kabraji and Charley Xu (Credit); and Michael Mann and Daisy Dai (Tax).

Jan 5

1 min

Simpson Thacher represented Aston Martin in connection with its comprehensive refinancing transactions. The new financing package includes $960 million principal amount of 10.0% Senior Secured Notes due 2029, £400 million principal amount of 10.375% Senior Secured Notes due 2029 and a new £170 million revolving credit facility. The transactions closed on March 21, 2024. The proceeds from the bond offering, together with cash on balance sheet, were used to fully redeem Aston Martin’s 10.5% Senior Secured Notes due 2025 and 15.0% Second Lien Split Coupon Notes due 2026, as well as to repay borrowings under its existing revolving credit facility.~~Aston Martin is a globally recognized ultra-luxury brand and a leader in the ultra-luxury sports car market. Founded in London in 1913, Aston Martin has a long heritage of exceptional design, engineering and manufacturing of ultra-luxury sports cars, as well as a longstanding racing pedigree. For more than 110 years, Aston Martin has been internationally recognized for its elegant and sophisticated British style, having built approximately 120,000 vehicles, from the iconic DB5 seen in the 1964 James Bond film Goldfinger, to the current core models, Vantage, DB12, DBS and DBX and a variety of special limited edition models.~~The Simpson Thacher team included Gil J. Strauss, Srishti Gupta and Julie De Keukeleire (Capital Markets); Antti Pesonen, William Choules and Kwasi Mills-Bampoe (Credit); Yash Rupal, Caleb McConnell, Meredith B. Jones, Michael E. Mann, Daisy Dai and Phoebe Adams (Tax); Jonathan S. Pall (U.S. Collateral); and Jeanne Annarumma (ERISA).

Mar 21

1 min

Simpson Thacher represented Aston Martin in connection with an offering of $90.0 million in aggregate principal amount of 10.000% Senior Secured Notes due 2029 and £65.0 million in aggregate principal amount of 10.375% Senior Secured Notes due 2029. The notes were issued as additional notes under the indenture dated March 21, 2024, governing Aston Martin’s existing $960.0 million in aggregate principal amount of 10.000% Senior Secured Notes due 2029 and £400.0 million in aggregate principal amount of 10.375% Senior Secured Notes due 2029. The transaction closed on August 15, 2024. The proceeds of the offering will be used, among other things, to repay the borrowings under the existing super senior revolving credit facility, to pay fees and expenses and for general corporate purposes.~~Aston Martin is a globally recognized ultra-luxury brand and a leader in the ultra-luxury sports car market. Founded in London in 1913, Aston Martin has a long heritage of exceptional design, engineering and manufacturing of ultra-luxury sports cars, as well as a longstanding racing pedigree. For more than 110 years, Aston Martin has been internationally recognized for its elegant and sophisticated British style, having built approximately 120,000 vehicles, from the iconic DB5 seen in the 1964 James Bond film Goldfinger, to the current core models, Vantage, DB12, DBS and DBX and a variety of special limited edition models.~~The Simpson Thacher team included Gil J. Strauss, Srishti Gupta, Julie De Keukeleire and Busra Kakdas (Capital Markets).

Aug 16

1 min

Simpson Thacher has acted for certain financing vehicles of Orange Spain and MASMOVIL in connection with an agreement between Orange Spain and MASMOVIL to form a new Joint Venture in order to combine their operations in Spain, creating the leading player in the Spanish telecoms market in terms of customers. The Firm advised across multiple financing products and strategies as part of this landmark financing transaction.~~The Simpson Thacher team included Shahpur Kabraji, Emma Lynam, Margareta Chlubnova and Emily Guess (Banking and Credit); Gil Strauss, Surya Bala and Julia Szinovatz (Capital Markets); and Daniel Deacon (Regulatory).

Mar 27

1 min

Simpson Thacher represented Flora Food (formerly known as Upfield) and KKR in connection with a Rule 144A and Regulation S offering of €125 million aggregate principal amount of additional 6.875% Senior Secured Notes due 2029. The bond offering closed on October 9, 2024. The proceeds from the offering, together with proceeds from a concurrent term loan B upsize transaction, were used to repay a portion of the outstanding borrowings under Flora Food’s revolving credit facility.~~Flora Food is a global leader in plant-based food, established in 2018. Upfield develops, produces, distributes and markets plant-based dairy alternative products in over 100 countries across four core categories: Butters and Spreads, Creams, Liquids and Cheeses. Flora Food’s business is supported by a global distribution footprint, a highly efficient supply chain and a strong research and development team.~~The Simpson Thacher team included Gil Strauss, Surya Bala, Ziang Zhou and Busra Kakdas (Capital Markets); Meredith Jones and Jenna Al-Malawi (Tax); Jonathan Pall (U.S. Collateral); and Jeanne Annarumma (ERISA).

Sep 10

1 min