Four Decades for Justice
May 13, 2016
Cravath represented INOVYN Finance plc, a subsidiary of the INOVYN joint venture owned by subsidiaries of INEOS AG and Solvay SA, as borrower in connection with the arrangement of a €775 million senior secured term loan facility agreement, arranged by a syndicate of banks led by JPMorgan Chase Bank, N.A., and as issuer of €300 million 144A/Reg. S high‑yield senior secured notes. INOVYN is a leading player in the production of polyvinyl chloride, chlorinated paraffins, epichlorohydrin, caustic soda and caustic potash in Europe, which are used in a variety of end markets. The proceeds were used to refinance existing debt, to finance the exit of Solvay SA from the joint venture, which, subject to regulatory approval, will leave INEOS AG the sole shareholder of INOVYN, and to pay fees and expenses related to the foregoing. Application has been made to list the notes on the Luxembourg Stock Exchange. The transactions closed on May 13, 2016.
The Cravath team included partner Tatiana Lapushchik and associates Jennifer Uren, Matthew C. Young and Peter H. Webb on banking matters; partner Alyssa K. Caples and associates Peter B. Weston, Giorgio Ignazzi and Lillian C. Bond on securities matters; partners J. Leonard Teti II and Christopher K. Fargo and associate Peter W. Rogers on tax matters; and senior attorney Annmarie M. Terraciano on environmental matters. Ashley May also worked on tax matters.
Deals & Cases
March 29, 2024
Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with a £1.35 billion bridge facility made available to fund the proposed acquisition of Spirent Communications by Keysight Technologies, Inc., outbidding a previous proposal by Viavi Solutions. Keysight Technologies, Inc. is a global innovator in the computing, communications and electronics market. The transaction announced on March 28, 2024.
Deals & Cases
November 27, 2023
Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with $14 billion of credit facilities made available to RTX Corporation, an aerospace and defense company that provides systems and services for commercial, military, and government customers worldwide. The facilities consisted of a $10 billion bridge credit facility and a $4 billion term loan facility. The transactions closed on October 24, 2023 and November 7, 2023.
Deals & Cases
October 06, 2023
Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with $2.4 billion of credit facilities made available to Cencora, Inc., a leading global pharmaceutical solutions organization committed to improving patient access to products and enhance patient care. The facilities consisted of a $355 million tranche one revolving credit facility and a $2.045 billion tranche two revolving credit facility. The transaction closed on October 6, 2023.
Deals & Cases
August 31, 2023
Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $1.3 billion term loan facility made available to Broadridge Financial Solutions, Inc., a leading provider of investor communications, technology‑driven solutions and data and analytics to the financial services industry. The transaction closed on August 17, 2023.
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