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Hercule Debtco's High‑Yield Senior Notes Offering

Cravath represented Deutsche Bank, BNP Paribas, Credit Suisse and KKR as initial purchasers in connection with the €150 million 144A/Reg. S high‑yield senior pay‑if‑you‑can notes offering by Hercule Debtco S.à r.l., which is indirectly owned by PAI Partners. Proceeds of the offering will be used to finance the acquisition of Albéa S.A., one of the world’s leading producers of plastic packaging for the beauty and personal care market, by a subsidiary of Hercule Debtco. The notes will be listed on The International Stock Exchange. The offering closed into escrow on February 14, 2018.

The Cravath team included partner Philip J. Boeckman and associates Michael L. Arnold and Dominic J. T. Nelson. Michael A. Naclerio also worked on this matter.