"Simpson Thacher Advises Cirsa Enterprises on €1 Billion Senior Secured Notes Offering"

"Simpson Thacher advised Cirsa Enterprises, a prominent gaming company, on a €1 billion bond offering through its subsidiary. The offering included €575 million in 4.875% Senior Secured Notes due 2031 and €425 million in Floating Rate Senior Secured Notes due 2032, which closed on October 25, 2025. The proceeds were used to fully redeem Cirsa's existing notes due 2027."

Simpson Thacher represented Cirsa Enterprises, S.A. (“Cirsa”), a leading gaming company publicly listed on the Barcelona, Bilbao, Madrid, and Valencia Stock Exchanges, in connection with a significant financial transaction. The transaction involved a Rule 144A and Regulation S offering by Cirsa’s subsidiary of €1,000 million aggregate principal amount, consisting of €575 million 4.875% Senior Secured Notes due 2031 and €425 million Floating Rate Senior Secured Notes due 2032. The offering closed on October 25, 2025, and the proceeds were used, along with cash on balance sheet, to fully redeem Cirsa’s existing notes due 2027. The Simpson Thacher team included Carol Daniel, Srishti Gupta, Eugenia Repetto, Yun Kei Chow, Lampros Anastasopoulos, and Lionel Schor from the Capital Markets practice, as well as Michael E. Mann and Mitchell Li from the Tax practice.

"Simpson Thacher Advises Cirsa Enterprises on €1 Billion Senior Secured Notes Offering"

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