Cravath represented AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in connection with their $1.75 billion registered senior notes offering. AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust are wholly owned subsidiaries of AerCap Holdings N.V., the global leader in aircraft leasing. The notes were listed on the Irish Stock Exchange. The transaction closed on January 15, 2026.

On January 29, 2026, Cravath partner Margaret T. Segall participated in GCR Live Global: Navigating the Future of Antitrust 2026, which was held from January 28‑30 in Miami, Florida. Maggie was featured on a panel entitled “Mergers: Novel Theories of Harm – Where are the Limits?” which examined regulators’ efforts to test the boundaries of traditional merger control through emerging theories of harm, including whether such theories are truly novel or extensions of existing frameworks, whether the applicable standards of proof are being met, how killer and reverse killer acquisitions are assessed and whether alleged ecosystem harms are already addressed under existing foreclosure theories.

On January 27, 2026, Cravath published the first edition of its Artificial Intelligence Developments Newsletter, which includes a high‑level review of activity across technical, regulatory, legal, and market areas of AI in the last three months.  

Cravath represented the initial purchasers in connection with the $1 billion 144A/Reg. S high‑yield senior notes offering of Six Flags Entertainment Corporation, Canada's Wonderland Company and Millennium Operations LLC. Six Flags is North America’s largest regional amusement‑resort operator with 26 amusement parks, 15 water parks and nine resort properties across 16 states in the U.S., Canada and Mexico. The transaction closed on January 14, 2026.

On January 26, 2026, Cravath partner David J. Kappos participated in the Association of Corporate Patent Counsel’s 2026 Midwinter Meeting, which was held from January 25‑28 in Orlando, Florida. The program featured presentations and interactive discussions covering intellectual property topics and best practices. Dave spoke on a panel entitled “The Future of IP Policy.”

On January 26, 2026, Cravath partner Elad Roisman participated in Northwestern Pritzker School of Law’s 53rd Annual Securities Regulation Institute, which was held from January 26‑28 in Coronado, California. Elad spoke on a panel entitled “Accounting & Auditing: Hot Topics for 2026,” which reviewed the shifting regulatory landscape under new SEC leadership. The discussion covered staffing changes at the Commission, best practices for the SEC waiver and preclearance process and the current state of PCAOB auditing standards. The panel also addressed FASB disclosure updates for 2025 10‑Ks and 2026, as well as practical strategies for navigating non‑GAAP issues and recent accounting comment letter trends.

Cravath represented the European Investment Bank (“EIB”) in connection with its $6 billion SEC registered notes offering. The purpose of the EIB is to contribute to the balanced and steady development of the internal market among Member States of the European Union. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on January 13, 2026.

On January 26, 2026, Cravath partner J. Leonard Teti II participated in the International Bar Association Tax Committee’s 15th Annual London Finance and Capital Markets Tax Conference, which was held from January 26‑27. Len was featured in a roundtable discussion entitled “Taxes After the 2024 Storm – Is There a Way Back? The Global Impact of One Big, Beautiful Bill,” during which panelists examined the future of Pillar 1, Pillar 2 and digital services taxes, Sections 891, 896 and 899 retaliatory taxation dynamics, EU state aid rules, ATAD Directives, transfer pricing and joint tax audits on U.S. groups. The discussion also addressed taxing U.S. multinationals from the perspectives of jurisdictions disappointed by the final BEPS 2.0 outcome and the re‑emergence of tax competition across jurisdictions.

On January 27, 2026, Siegfried, a leading global Contract Development and Manufacturing Organization for the pharmaceutical industry, announced it has signed binding agreements with an affiliate of SK Capital Partners to acquire the drug substance business of the Noramco Group and Extractas Bioscience (“Extractas”). The acquired businesses include Noramco, Purisys and Extractas, three high-quality small molecules drug substances sites. Cravath is representing Siegfried in connection with the transaction.

Cravath represented the underwriters in connection with the $6 billion registered notes offering of the State of Israel. The notes will be listed on the London Stock Exchange. The transaction closed on January 13, 2026.

On January 26, 2026, Cravath partner Wes Earnhardt participated in the Copyright Society’s 2026 Winter Meeting, which was held from January 24‑26 in Rancho Mirage, California and sought collaborative exchange and discourse on the most critical, cutting‑edge issues in copyright and intellectual property. Wes spoke on a panel entitled “Old Claims, Ongoing Risks: Repose in a Post‑Petrella World,” which reviewed the evolving copyright litigation landscape in the decade since the Supreme Court’s landmark Petrella v. MGM decision. The discussion covered topics including whether alternative equitable defenses have filled the laches gap, the impact of the Court’s recent Warner Chappell v. Nealy ruling on legal certainty and the practical risks associated with the broadened scope of legacy claims.

Cravath represented the underwriters in connection with the $212.8 million initial public offering of class A common stock of BitGo Holdings, Inc. (“BitGo”), a leading infrastructure provider of digital asset solutions for businesses, offering solutions including custody, wallets, staking, trading, settlement and digital asset management. The shares were listed on the New York Stock Exchange. The transaction closed on January 23, 2026.

Cravath represented the initial purchasers in connection with the $650 million 144A/Reg. S high‑yield senior notes tack‑on 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. Cravath also represented the dealer managers in connection with Level 3 Financing, Inc.'s concurrent $2.2 billion cash tender offer. The transactions closed on January 9, 2026.

On January 19, 2026, The M&A Advisor honored Cravath with the “Chapter 11 Reorganization of the Year (Over $5B)” award as part of the organization’s 20th Annual Turnaround Awards, which will be celebrated at an event on March 24, 2026 in Palm Beach. Winners were selected by a “distinguished panel of their peers” and represent “the highest standards of excellence in the restructuring and corporate finance profession.” Cravath was recognized for its representation of Silvergate Capital Corp. in its Chapter 11 reorganization and liquidation.

On January 16, 2026, Lawdragon announced the inclusion of 27 Cravath partners in its annual list of the “500 Leading Global Antitrust & Competition Lawyers.” The list, assembled based on research and peer nominations, recognizes “the emerging global corps of competition and antitrust” advisors across transactions and litigation who “negotiate deals that pass regulatory scrutiny, battle for consumers as well as companies in massive competition contests and navigate the frameworks of numerous countries and markets for global forces.”

On January 15, 2026, Cravath of counsel Scott B. Reents and discovery attorney Andrew Weiner participated in the 2026 Strategic Knowledge & Innovation Legal Leaders’ Summit Showcase. The Showcase, which was held virtually, featured presentations and strategic discussions highlighting the latest developments in the legal sector. Scott and Andrew led a presentation entitled “From 5 Million Documents to Measurable Results: How Cravath Redefined High-Stakes Document Review with AI,” which discussed the use of AI in the document review process for litigation.

On January 14, 2026, Cravath of counsel Dean M. Nickles participated in the New York State Bar Association’s Business Law Section & Corporate Counsel Section 2026 Annual Meeting, which was held in New York. Dean spoke as part of a program entitled “Cybersecurity Law and Risk Management: Essential Strategies for Multinational Organizations,” which reviewed how to navigate the cybersecurity legal landscape and covered topics including current regulatory requirements (such as the NY DFS Cybersecurity Regulation), incident response planning, responding to data breaches and ransomware, third‑party vendor risk management, the intersection of cybersecurity with privacy laws and AI security risks.

On January 15, 2026, the Harvard Law School Forum on Corporate Governance published Cravath’s latest quarterly newsletter on M&A, activism and corporate governance. The newsletter provides insight into practical points, key takeaways and relevant developments across the M&A, activism, restructuring, regulatory and corporate governance landscape during the third quarter of 2025. Contributors to this edition include partners G.J. Ligelis Jr., Evan A. Hill, Michael L. Arnold, Andrew M. Wark, Bethany A. Pfalzgraf and Edward O. Minturn.

On January 9, 2026, Lawdragon announced the inclusion of 36 Cravath partners in its annual list of the “500 Leading Lawyers in America.” The list, assembled based on research and peer nominations, recognizes “brilliant, impassioned and dedicated” advocates who are expected to “shape the law for decades to come.”

Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with $3.5 billion of credit facilities made available to Genmab, a leading international biotechnology company, and one of its wholly‑owned subsidiaries, Genmab Finance LLC, as part of the financing transactions undertaken in connection with its acquisition of Merus N.V., a leading oncology company developing innovative antibody therapeutics. The credit facilities consisted of a $2 billion term loan “B” facility, a $1 billion term loan “A” facility and a $500 million revolving credit facility. The transaction closed on December 12, 2025.