Leading law firm Appleby acted as Isle of Man legal advisors during a multi-million euro bond issue.

The company’s Isle of Man office advised Playtech Plc in connection with its placement of €297 million (?232m) of senior, unsecured convertible bonds due 2019.

Founded in 1999, Isle of Man-headquartered Playtech is listed on the London Stock Exchange and has more than 3,600 employees in 12 countries. It develops unified software platforms and content for the online and land-based gaming industry, together with providing a range of ancillary services such as marketing, CRM services and hosting. Playtech’s leading gaming applications include casino, bingo, poker, sports betting, live, mobile and social gaming, casual and fixed odds games.

Net proceeds of the bonds, which will be issued by PT (Jersey) Limited, a wholly-owned subsidiary of Playtech incorporated in Jersey, and guaranteed by the company, are intended to be used for pursuing acquisitive and organic opportunities for Playtech in line with the business’s strategy.

The Appleby team was led by Kyle Sutherland, Counsel in the Corporate & Commercial department.

Kyle said: ‘We welcomed the opportunity to continue to provide Isle of Man legal advice to Playtech and use our team’s expertise to assist on this significant bond issue.’

Berwin Leighton Paisner LLP acted as UK legal advisers to Playtech Plc. 

Photo - Kyle Sutherland.