Enstar Finance’s Fixed‑Rate Reset Junior Subordinated Notes Offering

Cravath represented the underwriters, led by Wells Fargo Securities, Barclays, HSBC and J.P. Morgan Securities, in connection with the $350 million fixed‑rate reset junior subordinated notes offering of Enstar Finance LLC, a subsidiary of Enstar Group Limited, a multi‑faceted insurance group that offers innovative capital release solutions and specialty underwriting capabilities. The transaction closed on August 26, 2020.

The Cravath team included partner Andrew J. Pitts and associates Fay E. Krewer, Charles A. Dobb, Andrea Roman‑Gonzalez and Zoe E. Egelman on capital markets matters, and associates Rebecca L. Fine and Carlos Nicholas Obando on tax matters.