Cravath’s New York Office Moves to Two Manhattan West
Cravath has one of the most respected capital markets practices in the world. We hold a distinctive reputation for devising and executing the innovative, sophisticated deal structures underlying landmark financing transactions, including the first simultaneous cross‑border tender offer, direct listings, high‑profile IPOs and acquisition financings for many of the largest U.S. and cross‑border transactions.
Our practice is balanced between representing issuers and underwriters on debt, equity and hybrid offerings, both domestically and internationally. Cravath’s substantial presence in London, where we have one of the largest contingents of U.S. lawyers in the city, enhances our ability to provide seamless, round‑the‑clock coverage.
We execute complex, cross-border deals issued in multiple currencies, as well as IPOs and other high‑profile transactions for companies ranging from emerging startups to leading multinational corporations in the United States and abroad. Our lawyers have led offerings in a broad range of industries and we also regularly advise on SEC‑registered and Rule 144A offerings by sovereign and supranational entities.
Our U.S. and foreign private issuer clients rely on Cravath’s expertise to resolve their most challenging issues before the SEC, including on difficult accounting or other disclosure matters, as well as potential reporting and compliance issues. Cravath lawyers maintain strong relationships with members of the SEC staff and our representation includes alerting our clients to newly enacted U.S. securities laws and SEC and exchange rules and regulations, as well as advising them with respect to compliance with these requirements. We also counsel clients on how U.S. securities laws and regulations interact with evolving areas such as crypto and data privacy.
Our lawyers’ ability to execute all offering types, our client-targeted expertise and our commercial understanding of business situations are highly recommended by clients and peers:
Our practice is balanced between representing issuers and underwriters on debt, equity and hybrid offerings, both domestically and internationally. Cravath’s substantial presence in London, where we have one of the largest contingents of U.S. lawyers in the city, enhances our ability to provide seamless, round‑the‑clock coverage.
We execute complex, cross-border deals issued in multiple currencies, as well as IPOs and other high‑profile transactions for companies ranging from emerging startups to leading multinational corporations in the United States and abroad. Our lawyers have led offerings in a broad range of industries and we also regularly advise on SEC‑registered and Rule 144A offerings by sovereign and supranational entities.
Our U.S. and foreign private issuer clients rely on Cravath’s expertise to resolve their most challenging issues before the SEC, including on difficult accounting or other disclosure matters, as well as potential reporting and compliance issues. Cravath lawyers maintain strong relationships with members of the SEC staff and our representation includes alerting our clients to newly enacted U.S. securities laws and SEC and exchange rules and regulations, as well as advising them with respect to compliance with these requirements. We also counsel clients on how U.S. securities laws and regulations interact with evolving areas such as crypto and data privacy.
Our lawyers’ ability to execute all offering types, our client-targeted expertise and our commercial understanding of business situations are highly recommended by clients and peers:
Deals & Cases
September 26, 2024
On September 26, 2024, Citigroup Inc. (“Citi”) and Apollo announced they have entered into an exclusive agreement for a subsidiary of Citi and certain affiliates of Apollo to form a landmark $25 billion private credit, direct lending program initially in North America, with the potential to expand to additional geographies. The program will include participation from Mubadala Investment Company as Apollo’s strategic partner as well as Apollo’s subsidiary, Athene, both of which will have the opportunity to join commitments appropriate for their respective mandates. The firms anticipate the program will finance approximately $25 billion of debt opportunities over the next several years, encompassing both corporate and financial sponsor transactions, and maintain the flexibility to significantly expand the size of the program beyond the initial $25 billion. Cravath is representing Citi in connection with the agreement.
Deals & Cases
September 26, 2024
Cravath represented the underwriters in connection with the $1.8 billion registered senior notes offering of Phillips 66 Company, an energy manufacturing and logistics company with midstream, chemicals, refining, marketing and specialties businesses. The transaction closed on September 11, 2024.
Deals & Cases
September 24, 2024
Cravath represented AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in connection with its $2.4 billion registered senior notes offering. AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust are wholly owned subsidiaries of AerCap Holdings N.V., the world’s largest independent aircraft leasing company. The transaction closed on September 10, 2024.
Deals & Cases
September 23, 2024
Cravath represented the sales agents in connection with the at‑the‑market offering of common stock totaling up to $1 billion of Essential Utilities, Inc., a holding company for regulated utilities providing water, wastewater and natural gas distribution services to an estimated five million people in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, Virginia, West Virginia and Kentucky.
Deals & Cases
September 19, 2024
Cravath represented the European Investment Bank (“EIB”) in connection with its $5 billion registered notes offering. The purpose of the EIB is to contribute to the balanced and steady development of the internal market among Member States of the European Union. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on August 27, 2024.
Activities & Publications
September 23, 2024
Cravath partners Alyssa K. Caples, Margaret T. Segall, Nicholas A. Dorsey, C. Daniel Haaren and Bethany A. Pfalzgraf spoke at the International Bar Association’s 2024 Annual Conference, which was held September 15‑20 in Mexico City and convened legal professionals from across the globe.
Accolades
August 16, 2024
On August 15, 2024, Cravath partners Gary A. Bornstein and D. Scott Bennett were named 2025 “Lawyers of the Year” for New York City in their respective practice areas by The Best Lawyers in America. Gary was recognized for Mergers and Acquisitions Litigation, and Scott was recognized for Corporate Law. The awards honor individuals with the highest overall peer feedback for a practice area and within a geographic market and whose work “continues to shape the future of the legal industry.”
Activities & Publications
August 15, 2024
On August 14, 2024, Cravath partner Korey Fevzi was named to Financial News’ inaugural “Most Influential in European Finance” list, which recognizes “innovators shaping the industry.” The feature recognized Korey’s role in the establishment of Cravath’s “English law offering” and on advising “investment banks, private credit funds and on leveraged finance acquisitions.” The publication also highlighted his representation of the lead arrangers in connection with the senior financing package for the €1.1bn acquisition of Forno d’Asolo by Sammontana and Investindustrial and his representation of the debt providers in the financing for the public‑to‑private takeover of Applus+ by TDR Capital and I Squared Capital.
Activities & Publications
August 06, 2024
On August 1, 2024, Cravath published the latest edition of its Cravath Emerging Company and Venture Capital Insights newsletter, entitled “2024 Mid‑Year Market Update,” which provides an overview of global venture capital and related activity during the first half of 2024. The newsletter also examines key exit trends, including strengthening IPO and secondaries markets, with M&A still providing stronger exit opportunities, and offers insights on artificial intelligence investment and updates on regulatory developments.
Activities & Publications
August 06, 2024
On August 1, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the second quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as SEC rulemaking and regulatory updates.
Deals & Cases
September 26, 2024
On September 26, 2024, Citigroup Inc. (“Citi”) and Apollo announced they have entered into an exclusive agreement for a subsidiary of Citi and certain affiliates of Apollo to form a landmark $25 billion private credit, direct lending program initially in North America, with the potential to expand to additional geographies. The program will include participation from Mubadala Investment Company as Apollo’s strategic partner as well as Apollo’s subsidiary, Athene, both of which will have the opportunity to join commitments appropriate for their respective mandates. The firms anticipate the program will finance approximately $25 billion of debt opportunities over the next several years, encompassing both corporate and financial sponsor transactions, and maintain the flexibility to significantly expand the size of the program beyond the initial $25 billion. Cravath is representing Citi in connection with the agreement.
Deals & Cases
September 26, 2024
Cravath represented the underwriters in connection with the $1.8 billion registered senior notes offering of Phillips 66 Company, an energy manufacturing and logistics company with midstream, chemicals, refining, marketing and specialties businesses. The transaction closed on September 11, 2024.
Deals & Cases
September 24, 2024
Cravath represented AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in connection with its $2.4 billion registered senior notes offering. AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust are wholly owned subsidiaries of AerCap Holdings N.V., the world’s largest independent aircraft leasing company. The transaction closed on September 10, 2024.
Deals & Cases
September 23, 2024
Cravath represented the sales agents in connection with the at‑the‑market offering of common stock totaling up to $1 billion of Essential Utilities, Inc., a holding company for regulated utilities providing water, wastewater and natural gas distribution services to an estimated five million people in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, Virginia, West Virginia and Kentucky.
Deals & Cases
September 19, 2024
Cravath represented the European Investment Bank (“EIB”) in connection with its $5 billion registered notes offering. The purpose of the EIB is to contribute to the balanced and steady development of the internal market among Member States of the European Union. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on August 27, 2024.
Activities & Publications
September 23, 2024
Cravath partners Alyssa K. Caples, Margaret T. Segall, Nicholas A. Dorsey, C. Daniel Haaren and Bethany A. Pfalzgraf spoke at the International Bar Association’s 2024 Annual Conference, which was held September 15‑20 in Mexico City and convened legal professionals from across the globe.
Accolades
August 16, 2024
On August 15, 2024, Cravath partners Gary A. Bornstein and D. Scott Bennett were named 2025 “Lawyers of the Year” for New York City in their respective practice areas by The Best Lawyers in America. Gary was recognized for Mergers and Acquisitions Litigation, and Scott was recognized for Corporate Law. The awards honor individuals with the highest overall peer feedback for a practice area and within a geographic market and whose work “continues to shape the future of the legal industry.”
Activities & Publications
August 15, 2024
On August 14, 2024, Cravath partner Korey Fevzi was named to Financial News’ inaugural “Most Influential in European Finance” list, which recognizes “innovators shaping the industry.” The feature recognized Korey’s role in the establishment of Cravath’s “English law offering” and on advising “investment banks, private credit funds and on leveraged finance acquisitions.” The publication also highlighted his representation of the lead arrangers in connection with the senior financing package for the €1.1bn acquisition of Forno d’Asolo by Sammontana and Investindustrial and his representation of the debt providers in the financing for the public‑to‑private takeover of Applus+ by TDR Capital and I Squared Capital.
Activities & Publications
August 06, 2024
On August 1, 2024, Cravath published the latest edition of its Cravath Emerging Company and Venture Capital Insights newsletter, entitled “2024 Mid‑Year Market Update,” which provides an overview of global venture capital and related activity during the first half of 2024. The newsletter also examines key exit trends, including strengthening IPO and secondaries markets, with M&A still providing stronger exit opportunities, and offers insights on artificial intelligence investment and updates on regulatory developments.
Activities & Publications
August 06, 2024
On August 1, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the second quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as SEC rulemaking and regulatory updates.
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