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News & Insights

DraftKings Inc.’s Credit Facility

December 02, 2024

Cravath represented Morgan Stanley, as administrative agent, joint lead arranger, joint bookrunner and collateral agent, in connection with a $500 million revolving credit facility made available to DraftKings Inc. and certain of its subsidiaries. DraftKings Inc. operate as a digital sports entertainment and gaming company in the United States and internationally. The transaction closed on November 7, 2024.

The Cravath team included partners Joseph D. Zavaglia and Matthew M. Kelly and associates Fay E. Faught and Alexander Williams‑Pratt on financing matters, and partner Arvind Ravichandran and associates Chloe Amarilla and Frederick Schemel on tax matters.

Related Practices & Industries

  • Corporate
  • Banking and Credit
  • Media and Entertainment
  • Consumer Products and Services
  • Technology
  • Sports

People

Photo
Name
Joseph D. Zavaglia
Title
Corporate
Title
Partner
Email
jzavaglia@cravath.com
Phone
+1-212-474-1724
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    Education

    • J.D., 2004, Brooklyn Law School
      Valedictorian, summa cum laude
    • B.B.A., 2001, College of Insurance
      cum laude

    Admitted In

    • New York
    Photo
    Name
    Matthew M. Kelly
    Title
    Corporate
    Title
    Partner
    Email
    mkelly@cravath.com
    Phone
    +1-212-474-1318
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      Education

      • J.D., 2013, New York University School of Law
        John Norton Pomeroy Scholar; Benjamin Butler Scholar; Order of the Coif, magna cum laude
      • A.B., 2006, Dartmouth College
        cum laude

      Admitted In

      • New York
      Photo
      Name
      Arvind Ravichandran
      Title
      Tax
      Title
      Partner
      Email
      aravichandran@cravath.com
      Phone
      +1-212-474-1033
      vCard
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        Education

        • J.D., 2012, Columbia Law School
        • B.A., 2009, Columbia College

        Admitted In

        • New York

        Related News & Insights

        Deals & Cases

        September 02, 2025

        Otis Worldwide Corporation’s $1.5 Billion Revolving Credit Facility

        Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $1.5 billion revolving credit facility made available to Otis Worldwide Corporation, a leading elevator and escalator manufacturing, installation and service company. The transaction closed on August 8, 2025.

        Deals & Cases

        September 02, 2025

        Verisk’s $2 Billion of Credit Facilities in Connection with its Pending Acquisition of AccuLynx.com

        Cravath represented the administrative agent, lead arrangers and bookrunners in connection with $2 billion of credit facilities made available to Verisk Analytics, Inc. (“Verisk”), as part of the financing transactions undertaken in connection with its pending acquisition of Exactlogix, Inc. (“AccuLynx.com”). Verisk is a leading data, analytics and technology provider serving clients in the insurance ecosystem. The credit facilities consisted of a $750 million term loan facility and a $1.25 billion revolving credit facility. The transaction closed on August 15, 2025.

        Deals & Cases

        July 14, 2025

        Weyerhaeuser Company’s $1.75 Billion Revolving Credit Facility

        Cravath represented Weyerhaeuser Company in connection with its $1.75 billion revolving credit facility. Weyerhaeuser Company is one of the world’s largest private owners of timberlands. The transaction closed on June 30, 2025.

        Deals & Cases

        June 17, 2025

        Coupang, Inc.’s $1.5 Billion Revolving Credit Facility

        Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $1.5 billion revolving credit facility made available to Coupang, Inc., a leading global technology and commerce company providing retail, restaurant delivery, video streaming and fintech services to customers around the world under brands that include Coupang, Coupang Eats, Coupang Play and Farfetch. The transaction closed on June 2, 2025.

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