Poland: Schoenherr advises Cyprium on USD 1.5bln notes offering in connection with Aptiv's spinoff of Versigent

Schoenherr's scope of work comprised Polish law advice on the notes workstream and the guarantee provided by the Polish subsidiary in connection with a USD 850m senior secured revolving credit facility and a USD 500m senior secured term loan credit facility.

Versigent Limited is the holding company for Aptiv PLC's former Electrical Distribution Systems segment, which Aptiv separated from its current businesses through a tax-free spinoff. The spinoff has since been completed, and Versigent now operates as a separate, publicly traded company listed on the New York Stock Exchange (NYSE). 

Versigent is a global leader in the design, development and manufacture of low-voltage and high-voltage electrical architectures. It is a global supplier of optimised vehicle architecture solutions to a broad customer base primarily composed of original equipment manufacturers that produce increasingly software-defined, electrified and feature-rich vehicles.

Aptiv is a global technology company that develops safer, greener and more connected solutions enabling a more sustainable future of mobility.

The Schoenherr team was led by Weronika Kapica (Partner) and supported by Aleksandra Goławska (Attorney at Law), both from Schoenherr's Banking; Finance & Capital Markets practice in Warsaw.