Italian leather manufacturer Conceria Pasubio S.p.A. has raised €400 million through a 9.5% Senior Secured Notes offering due in 2032 as part of a refinancing plan aimed at improving its financial flexibility and supporting future business operations.

The company said the notes were priced at 100% of their principal amount, with the transaction expected to be completed on or around July 27, 2026, subject to customary closing conditions.

According to Pasubio, the proceeds from the offering will primarily be used to repay existing debt.

This includes redeeming €340 million in Senior Secured Floating Rate Notes due 2028, €20 million in Senior Secured Notes due 2028 and repaying all outstanding borrowings under its existing revolving credit facility.

Part of the proceeds will also be used to cover fees and expenses related to the transaction, while the remaining funds will be retained for general corporate purposes.

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Alongside the bond offering, Pasubio has secured commitments from lenders for a new €72 million revolving credit facility. In addition, €18 million under its existing revolving credit facility will remain available for future borrowing.

The refinancing is expected to extend Pasubio’s debt repayment timeline while providing the company with greater financial flexibility to support its ongoing operations and future growth.

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