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News Jul 21, 2014

Shearman & Sterling Advises Lead Arrangers on Approx. US$10.7 Billion Financing for GTECH S.p.A's Acquisition of International Game Technology

Shearman & Sterling represented Credit Suisse Securities (USA) LLC, as administrative agent, and Credit Suisse Securities (USA) LLC, Barclays and Citigroup Global Markets Limited, as joint lead arrangers and joint bookrunners, in the US$5.88 billion and €3.55 billion 364 day senior bridge loan financing for the acquisition by GTECH S.p.A. of International Game Technology (IGT).

Shearman & Sterling has also acted for Credit Suisse Securities (Europe) Limited, the lead financial adviser to GTECH, in relation to the US$4.7 billion acquisition.

GTECH is a leading commercial operator and provider of technology in the regulated worldwide gaming markets. IGT is a global gaming company specializing in the design, manufacture, and marketing of electronic gaming equipment and systems products.

The Shearman & Sterling team included partners Joshua Thompson (New York-Finance), Patrick Flanagan (New York-Finance), James Duncan (London-Finance), and Mei Lian (London-Finance); of counsel Joel Klaperman (New York-Capital Markets); counsel Valerio Fontanesi (Milan-Finance) and Gabrielle Wong (London-Finance); and associates Amy Gluckman (New York-Finance) and Rainer Adlhart (London-Capital Markets). The Shearman & Sterling M&A team included partners George Karafotias (London-Mergers & Acquisitions), Laurence Levy (London-Mergers & Acquisitions), and Fabio Fauceglia (Milan-Mergers & Acquisitions) and associates David Plattner (London-Mergers & Acquisitions) and Caitlin Ludwigsen (London-Mergers & Acquisitions).