Actavis Funding SCS’s $21 Billion Registered Fixed and Floating Rate Notes Offering

Cravath represented the underwriters, led by J.P. Morgan Securities, Mizuho Securities, Wells Fargo Securities, Barclays, BNP Paribas, HSBC, MUFG, RBS, SMBC Nikko and TD Securities, in connection with the US$21 billion registered fixed and floating rate notes offering of Actavis Funding SCS, an indirect wholly owned subsidiary of Actavis plc, a global specialty pharmaceutical company. Proceeds of the offering were used to finance the acquisition of Allergan, Inc. by Actavis. The transaction, which closed on March 12, 2015, was the second largest corporate debt offering to date.

The Cravath team included partners Stephen L. Burns and Andrew J. Pitts and associates Mark Mushkin, Katerina M. Novak, Stacy G. Grant and Chase A. M. Proctor on corporate matters and partner Christopher K. Fargo and associate Richard Bohm on tax matters.