Cravath represented JPMorgan Chase Bank, N.A., as administrative agent, in connection with the arrangement of $6 billion of credit facilities made available to Marathon Petroleum Corporation, a leading crude oil refinery. The facilities consisted of a $5 billion five-year revolving credit facility and a $1 billion 364-day revolving credit facility, to be used for working capital and general corporate purposes. The credit facilities may also be used to finance the potential acquisition of Andeavor by Marathon Petroleum Corporation. The transaction closed on August 28, 2018.
The Cravath team included partner Tatiana Lapushchik and associates Kendra L. Sandidge and Ari B. Ruffer on banking matters, and associate Rebecca L. Fine on tax matters.