Chrysler Group’s US$4.8 Billion Financing

Cravath represented the initial purchasers, led by BofA Merrill Lynch, in connection with the US$2.8 billion 144A/Reg. S high‑yield secured senior debt offering of Chrysler Group LLC, a leading North American automotive manufacturer. Cravath also represented J.P. Morgan Securities as the lead arranger of US$2.0 billion of senior secured term loan facilities for Chrysler Group. The proceeds of the notes offering, together with borrowings under the senior secured term loan facilities, were used to refinance certain of Chrysler Group’s outstanding senior unsecured debt. The transactions closed on February 7, 2014.

The Cravath team included partner William V. Fogg and associates R. Kirkie Maswoswe, Katerina M. Novak and Brent R. Tomlinson on securities matters; partners James D. Cooper and George E. Zobitz, senior attorneys Kimberly A. Grousset and Margot A. Wagner and associate Welton E. Blount Jr. on banking matters; partner J. Leonard Teti II and associate Neetin Gulati on tax matters; associate Matthew Cantor on executive compensation and benefits matters; and senior attorney Annmarie M. Terraciano on environmental matters. Sara L. Lykken also worked on tax matters.