Cravath’s New York Office Moves to Two Manhattan West
Cravath represented Credit Suisse AG in connection with approximately $470 million of first lien and second lien credit facilities made available to American Bath Group, LLC, a premier manufacturer of bathing products. The facilities consisted of a $325 million first lien term loan facility, a $50 million revolving credit facility and a $95 million second lien term loan facility to be used to finance the acquisition by an affiliate of Lone Star Capital of American Bath Group, LLC, to repay existing debt and for working capital. The transaction closed on September 30, 2016.
The Cravath team included partners Craig F. Arcella and Stephen M. Kessing and associates Isaac C. Beerman, Matthew G. Jones, Joshua Ayal, Zara Bari, Peter H. Webb and Bryan G. Jones on banking matters; partner J. Leonard Teti II and associates Dmitry Zelik, Lingfeng Li, Ashley May and Arvind Ravichandran on tax matters; and associate Peretz Riesenberg on executive compensation and benefits matters. DongHwa Kim also worked on banking matters.
Deals & Cases
August 21, 2024
Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with $3.1 billion of credit facilities made available to Aptiv PLC and certain of its subsidiaries. Aptiv PLC is a leading global technology and mobility architecture company primarily serving the automotive sector. The facilities consisted of a $2.5 billion bridge credit facility, used to partially finance the accelerated share repurchase of up to $3.0 billion of Aptiv PLC’s ordinary shares, and a $600 million term loan facility. The transactions closed on August 1, 2024, and August 19, 2024.
Deals & Cases
June 28, 2024
Cravath represented the term loan facility administrative agent and revolving credit facility administrative agent in connection with $2.43 billion of upsized credit facilities made available to Pactiv Evergreen Inc. and certain of its subsidiaries. Pactiv Evergreen Inc. is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The facilities consisted of an upsized $1.1 billion revolving credit facility and an upsized $1.33 billion term loan facility. The transactions closed on May 1, 2024, and May 28, 2024.
Deals & Cases
June 05, 2024
Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with $1.5 billion of credit facilities made available to Monster Beverage Corporation, a leading developer and distributer of energy drink beverages. The facilities consisted of a $750 million revolving credit facility and a $750 million term loan facility. The transaction closed on May 22, 2024.
Deals & Cases
May 21, 2024
Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with $14.5 billion of credit facilities made available to The Home Depot, Inc., the world’s largest home improvement retailer, as part of the financing transactions undertaken in connection with the pending acquisition of SRS Distribution Inc. The facilities consisted of a $10 billion revolving credit facility, $3.5 billion 364‑day revolving credit facility and $1.0 billion three‑year revolving credit facility. The transaction closed on May 7, 2024.
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