Cravath’s London Office Moves to 100 Cheapside
Cravath represented Drug Royalty III LP 1 in connection with its $100 million Rule 144A senior secured notes offering. Drug Royalty III LP 1 is a special purpose limited partnership that owns assets related to pharmaceutical products. The transaction closed on December 7, 2018.
The Cravath team included partner Nicholas A. Dorsey, senior attorney Elizabeth Albert and associates Randall F. Limberg and Samuel A. Lifton on securities matters; partner David J. Kappos, practice area attorney Anthony N. Magistrale and associate Joel Feigenbaum on intellectual property matters; and associate Arvind Ravichandran on tax matters. Seann E. Archibald also worked on securities matters.
Deals & Cases
October 27, 2025
Cravath represented the initial purchaser in connection with the $275 million 144A/Reg. S high‑yield senior guaranteed notes offering of Cleveland‑Cliffs Inc., a leading North America‑based steel producer. The transaction closed on October 10, 2025.
Deals & Cases
October 15, 2025
Cravath represented the underwriters in connection with the $1.5 billion registered senior notes offering of Royal Caribbean Cruises Ltd., a global cruise company. The transaction closed on October 1, 2025.
Deals & Cases
September 25, 2025
Cravath represented the underwriters in connection with the $350 million fixed rate reset subordinated notes offering of Webster Financial Corporation, a bank holding company of Webster Bank, a commercial bank with a national bank charter focused on providing financial products and services to businesses, individuals and families. The transaction closed on September 11, 2025.
Deals & Cases
September 02, 2025
Cravath represented the initial purchasers in connection with the $2 billion 144A/Reg. S high-yield first lien notes offering of Level 3 Financing, Inc., guaranteed by Level 3 Parent, LLC. Level 3 Financing, Inc. is a direct wholly‑owned subsidiary of Level 3 Parent, LLC and indirect wholly‑owned subsidiary of Lumen Technologies, Inc., a facilities‑based technology and communications company that provides a broad array of integrated products and services. The transaction closed on August 18, 2025.
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