Cravath represented the underwriters, led by Morgan Stanley and Citigroup, in connection with the US$3.0 billion registered high‑yield senior debt offering of Chesapeake Energy Corporation, the second‑largest producer of natural gas and the 10th largest producer of oil and natural gas liquids in the United States. The transaction closed on April 24, 2014. Cravath also represented Morgan Stanley and Citigroup as dealer managers for a concurrent senior notes tender offer by Chesapeake Energy Corporation.
The Cravath team included partner Stephen L. Burns and associates Michael S. Darby and Gabriella Kleeman on corporate matters and partner Andrew W. Needham and associate Jay S. Gill on tax matters. Andrew B. Langworthy also worked on corporate matters relating to the tender offer.
Deals & Cases
March 31, 2025
Cravath represented the initial purchasers in connection with the $1 billion 144A/Reg S. high‑yield senior notes offering of Alumina Pty Ltd, a wholly owned subsidiary of Alcoa Corporation, a global industry leader in the production of bauxite, alumina and aluminum products. Cravath also represented the dealer managers in connection with the concurrent cash tender offers for notes of Alcoa Nederland Holding B.V., a wholly owned subsidiary of Alcoa Corporation, with an aggregate principal amount of up to $1 billion. The transactions closed on March 17, 2025.
Deals & Cases
March 21, 2025
Cravath represented the underwriters in connection with the $500 million fixed rate/floating rate senior notes offering of First Horizon Corporation, a holding company for First Horizon Bank that provides various financial services. The transaction closed on March 7, 2025.
Deals & Cases
March 14, 2025
Cravath represented the initial purchasers in connection with the $500 million Rule 144A high‑yield senior notes offering of Credit Acceptance Corporation, a leading independent auto finance company. The transaction closed on February 28, 2025.
Deals & Cases
March 07, 2025
Cravath represented the underwriters in connection with the $1 billion registered senior notes offering of Expedia Group, Inc., an online travel company. The transaction closed on February 21, 2025.
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