Paul, Weiss represented leading gaming, entertainment and hospitality operator Great Canadian Gaming Corporation in its private notes offering of $540 million aggregate principal amount of 8.750% senior secured notes due 2029. The joint bookrunning managers for the offering were Barclays and Deutsche Bank.

Concurrently with the closing of the offering, Great Canadian amended its existing credit agreement governing its senior credit facilities to provide for a new $525 million senior secured first lien term loan credit facility and a new $215 million senior secured first lien revolving credit facility. Great Canadian used the net proceeds from the notes offering, together with the proceeds from the credit agreement refinancing and cash on hand, to repay its existing term loan facility, redeem the company’s 4.875% senior secured notes due 2026 and pay related fees and expenses.

The Paul, Weiss team was led by corporate partners Luke Jennings and Danielle Penhall, and included partners Brian Janson and Mark Wlazlo, and counsel Tom Good; tax partner Brian Grieve; and executive compensation counsel Jake Glazeski.