Gilbert + Tobin is pleased to announce its role advising the Mandated Lead Arranger and Bookrunner, Goldman Sachs and a syndicate of high-profile lenders on the A$1.1 billion refinancing of TEG’s existing debt facilities and dividend recapitalisation.
TEG is an Australia based company that is a leading global provider of live entertainment ticketing, selling tickets to concerts, musicals and sporting events with operations in countries including Australia, the UK and Singapore.
The dividend recapitalisation follows offers from both KKR and Blackstone in August to acquire the TEG Group from SilverLake. G+T advised on the Australian aspects of the deal including the Australian dollar denominated facility along with the operations which are largely based in Australia.
The transaction was led by Banking + Projects partner Spiro Papadolias, and was supported by lawyers Wenzo Mnguni and Yuka Nagata.
Spiro commented “We are very proud to have supported Goldman Sachs and a syndicate of high-quality lenders on this important refinancing. The size of the debt facilities reflects a strong endorsement of TEG’s management and future business plans and a positive sign for activity in the Australian debt market. Great to finish 2023 with such a great outcome and congratulations to all of the teams involved.”