Pasubio’s Senior Secured Notes Offering and New Revolving Credit Facilities

Cravath represented the initial purchasers, arrangers and lenders in connection with the offering of €400 million in aggregate principal amount of senior secured notes and new revolving credit facilities of Pasubio, a PAI Partners portfolio company and a leading global supplier of luxury and premium leather and textile materials. Proceeds of the offering were used to redeem Pasubio's existing senior secured notes, repay drawings under its existing revolving credit facility, pay transaction fees and expenses and for general corporate purposes. The transaction closed on July 27, 2026.

The Cravath team included partners Philip J. Boeckman and Meg Rallings and associates Bianca Urbani and Peter Siemens on capital markets matters, and partner Chris Medley and associates Shayan Hasan and Guan Koi Khor on banking matters.