Novolex’s High‑Yield Senior Notes Offering

Cravath represented the initial purchasers, J.P. Morgan Securities, Credit Suisse, Deutsche Bank Securities, Jefferies, Goldman Sachs & Co. LLC, Citigroup and Morgan Stanley, in connection with the $500 million 144A/Reg. S high‑yield senior notes offering of Novolex, a leading North American manufacturer of value‑added paper and plastic flexible packaging products. Proceeds of the offering were used to fund a portion of Novolex’s acquisition of The Waddington Group from Newell Brands Inc. The transaction closed on June 29, 2018.

The Cravath team included partner Craig F. Arcella and associates David J. Benhamou, Caleb B. Rosser and Samuel A. Lifton on securities matters, and associate Cecily Xi on tax matters.