Codere continues to work with noteholders on lock-up agreement

Chicago, April 19 – Codere Finance 2 (Luxembourg) SA with Codere New Topco SA provided an update on the work it is doing regarding a business plan with its largest shareholders and noteholders.

The company has been working towards the provision of €101,782,000 of new liquidity financing (including a 1.75% original issue discount) and amending certain terms of Codere’s existing notes.

There was an early-bird lock-up fee deadline on April 14 relating to the transaction announced on March 29.

As of the early-bird deadline, noteholders representing 90% of the company’s super senior notes, 89% of the senior notes and 90% of the subordinated PIK notes acceded to the lock-up agreement.

The final deadline for the lock-up fee is 11 a.m. ET on April 21.

Codere also received support from the requisite majority of its shareholders for the transaction at the extraordinary general meeting held on April 13.

More information on the lock-up agreement can be obtained from the information agent, GLAS Specialist Services Ltd. (Codere@glas.agency).

Clifford Chance is acting as Codere’s financial adviser. KPMG Asesores, SL is the financial adviser for the company.

PJT Partners is the financial adviser for certain noteholders. Milbank, LLP is the legal adviser for certain noteholders. Gomez-Acebo & Pombo Abogados, SLP is the legal adviser to certain noteholders.

Codere is a Madrid-based national gaming company.

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