Silver Point Capital in Refinancing by Spanish Gaming Group Codere

Cleary Gottlieb represented Silver Point Capital as one of a group of new lenders to Codere S.A. in the refinancing of an existing revolving credit facility by way of amendment and restatement of a €98.6 million senior facilities agreement. The refinancing documentation included an option for the new lenders to participate in any future refinancing transaction relating to the senior facilities agreement. An affiliate of Silver Point Capital also assumed the role of agent under the senior facilities agreement as part of the refinancing, which was finalized on July 5.

Codere is a Spanish multinational company in the private gaming sector, operating in Europe (Spain and Italy) and Latin America (Argentina, Mexico, Colombia, Panama, Uruguay and Brazil). It manages 56,474 gaming machines, 186 gaming halls, 1,379 betting locations and 3 racetracks, and reported consolidated revenues of €1.66 billion in 2012.