Versigent’s $1.35 Billion Credit Facilities and $1.6 Billion High‑Yield Senior Notes Offering in Connection with Aptiv PLC’s Spin‑Off of Versigent

Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with $1.35 billion of credit facilities made available to subsidiaries of Versigent Limited, a global leader in the design, development and manufacture of low voltage and high voltage electrical architectures and the holding company for Aptiv PLC’s Electrical Distribution Systems segment, which Aptiv PLC spun off into a separate, independent, publicly traded company. The proceeds were used to partially finance the spin‑off. The credit facilities consisted of a $500 million term loan facility and an $850 million revolving credit facility. The transaction closed on November 26, 2025.

Cravath also represented the initial purchasers in connection with the $1.6 billion 144A/Reg. S high‑yield senior notes offering of subsidiaries of Versigent Limited. The proceeds of the offering were used to partially finance the spin‑off. The transaction closed on March 18, 2026.

The Cravath team included partners Craig F. Arcella and Kelly M. Smercina and associates Kathryn Kennedy Bleday and Benjamin Meyer on capital markets matters; partners Tatiana Lapushchik and Sarah F. Rosen and associates Ceara Maria Burns, Luke Bausch and Lindsey Corbett on banking matters; partner Arvind Ravichandran and associate Josh Banafsheha on tax matters; partner Matthew J. Bobby and associate H. Bianca Hsing on executive compensation and benefits matters; and partner Matthew Morreale on environmental matters. Christine E. Scott also worked on capital markets matters, and Yasmeen Shrestha worked on tax matters.