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News & Insights

Essential Utilities, Inc.’s Senior Notes Offering

August 29, 2024

Cravath represented the underwriters in connection with the $500 million senior notes offering of Essential Utilities, Inc., a holding company for regulated utilities providing water, wastewater and natural gas distribution services to an estimated five million people in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Kentucky, West Virginia, Indiana and Virginia. Essential Utilities, Inc. was formerly known as Aqua America, Inc. The transaction closed on August 15, 2024.

The Cravath team included partners Stephen L. Burns and Ryan J. Patrone, of counsel Janice T. P. Martindale and associate Katie DelGhingaro on capital markets matters; partner Arvind Ravichandran and associate William Swisher on tax matters; senior attorney Annmarie M. Terraciano on environmental matters; and associate Celine Li on executive compensation and benefits matters. Jeryne Indira Fish also worked on capital markets matters.

Related Practices & Industries

  • Corporate
  • Capital Markets
  • Tax
  • Environmental
  • Executive Compensation and Benefits

People

Photo
Name
Ryan J. Patrone
Title
Corporate
Title
Partner
Email
rpatrone@cravath.com
Phone
+1-212-474-1280
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    Education

    • J.D., 2015, New York University School of Law
      Order of the Coif; Florence Allen Scholar, magna cum laude
    • B.S., 2012, University of Florida
      summa cum laude

    Admitted In

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

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

      Admitted In

      • New York
      Photo
      Name
      Janice T. P. Martindale
      Title
      Corporate
      Title
      Of Counsel
      Email
      jmartindale@cravath.com
      Phone
      +1-212-474-1616
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        Education

        • J.D., 2016, New York University School of Law
          cum laude
        • B.A., 2009, The University of Texas at Austin

        Admitted In

        • New York
        Photo
        Name
        Annmarie M. Terraciano
        Title
        Corporate
        Title
        Of Counsel
        Email
        aterraciano@cravath.com
        Phone
        +1-212-474-1366
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          Education

          • J.D., 1998, Columbia Law School
            Harlan Fiske Stone Scholar
          • M.S., 1994, University of Wisconsin - Madison
          • B.A., 1989, Wellesley College
            cum laude

          Admitted In

          • New York
          Photo
          Name
          Stephen L. Burns
          Title
          Corporate
          Title
          Retired Partner
          Email
          sburns@cravath.com
          Phone
          +1-212-474-1146
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            Education

            • J.D., 1990, The University of Texas School of Law
              with Honors
            • B.B.A., 1987, University of Oklahoma
              with Distinction

            Related News & Insights

            Deals & Cases

            January 07, 2026

            Mattamy Group Corporation’s High‑Yield Senior Notes Offerings

            Cravath represented the initial purchasers in connection with the $475 million and C$350 million 144A/Reg. S high‑yield senior notes offering of Mattamy Group Corporation, North America's largest privately owned homebuilder and Canada’s largest new home construction and development firm at the time of the offering. The transactions closed on December 17, 2025.

            Deals & Cases

            December 29, 2025

            Stewart Information Services Corporation’s Primary Common Stock Offering

            Cravath represented the underwriters in connection with the $148 million primary common stock offering of Stewart Information Services Corporation. Through its subsidiaries, Stewart Information Services Corporation provides title insurance and real estate transaction services. The transaction closed on December 12, 2025.

            Deals & Cases

            December 24, 2025

            Acushnet Company’s High‑Yield Senior Notes Offering

            Cravath represented the initial purchasers in connection with the $500 million 144A/Reg. S high‑yield senior notes offering of Acushnet Company, a wholly‑owned subsidiary of Acushnet Holdings Corp., a global leader in the design, development, manufacture and distribution of performance‑driven golf products. The transaction closed on November 24, 2025.

            Deals & Cases

            December 17, 2025

            Smurfit Westrock’s Registered Senior Notes Offerings

            Cravath represented the underwriters in connection with the $800 million registered senior notes offering of Smurfit Westrock Financing DAC and the €500 million registered senior notes offering of Smurfit Kappa Treasury Unlimited Company, each a wholly owned subsidiary of Smurfit Westrock plc, one of the world's largest integrated manufacturers of paper‑based packaging products. The notes are expected to be listed on Euronext Dublin. The transactions closed on November 21, 2025, and November 24, 2025, respectively.

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