Herter & Co. advises Löwen Play on refinancing

Herter & Co. has advised Safari Holding GmbH (“Löwen Play”), an Ardian portfolio company, on the refinancing of the existing high-yield bond issued in 2014. 

Herter & Co. acted as a debt advisor to Löwen Play and Ardian on this transaction which included the issuance of new €350m senior secured notes underwritten by JP Morgan as sole lead book runner, ING as joint book runner and BOI as lead manager. In addition to the high-yield bond, a €40m super senior RCF with ING-DiBa and Bank of Ireland as mandated lead arrangers was placed to support the company’s future growth strategy.

Headquartered in Bingen, Löwen Play is one of the largest private gaming arcade operators in Germany. The company operates c. 370 gaming arcades in Germany and c. 8,500 gaming machines as well as seven sites in the Netherlands.

Ardian is an independent private investment company with assets of US$65bn managed or advised in Europe, North America and Asia. Ardian employs more than 470 people working through 13 offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Tokyo, Jersey, Luxembourg across a full range of asset classes, including Ardian Funds of Funds, Ardian Buyout (including Ardian Buyout Europe & North America, Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Private Debt, Ardian Infrastructure, Ardian Real Estate and Ardian Mandates.