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Emma Delta completes bond issue

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Emma Delta successfully placed yesterday EUR 400 million of senior secured notes to partially finance the acquisition of a stake in the Hellenic Football Prognostics Organisation S.A. ("OPAP").

The placement was made through Emma Delta’s subsidiary Emma Delta Finance plc. The notes will be used in combination with the EUR 272 million already provided by individual investors to Emma Delta to fund the purchase of a 33.0% stake in OPAP from the Hellenic Republic Asset Development Fund S.A. ("HRADF").

Commenting on the successful placement, Mr. Jiří Šmejc, Emma Delta’s controlling shareholder, said “We are delighted that the placement has gone through swiftly and smoothly and look forward to opening a new chapter in the history of OPAP.”

OPAP is the leading gaming company in Greece and the exclusive operator of all numerical lottery and sports betting games in Greece (excluding casinos and horseracing). The acquisition is expected to be completed in Athens on October 11, 2013.

The successful EUR 400 million placement comprised of first-lien senior secured notes of an aggregate principal amount of EUR 250 million due 2017, bearing an interest rate of 8.5%, and second-lien senior secured notes with an aggregate principal amount of EUR 150 million due 2017, bearing an interest rate of 12.0%. Jefferies acted as the sole book-running manager and placement agent for the offering.

Emma Deltas landmark bid to acquire 33.0% of the voting stock of OPAP for a total consideration of EUR 652 million from HRADF was accepted in early May 2013 by HRADF.

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