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Cravath Publishes Winter 2026 Issue of Alumni Journal

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News & Insights

First Solar’s $1.5 Billion Revolving Credit Facility

February 20, 2026

Cravath represented First Solar, Inc. in connection with its $1.5 billion revolving credit facility. First Solar is America’s leading photovoltaic solar technology and manufacturing company, and the only US‑headquartered company among the world’s largest solar manufacturers. The transaction closed on February 13, 2026.

The Cravath team included partners Joseph D. Zavaglia and Isaac C. Beerman and associate Nigle B. Barrow III on financing matters; of counsel Elizabeth Albert on derivatives matters; and partner Arvind Ravichandran on tax matters. Yasmeen Shrestha also worked on tax matters.

Related Practices & Industries

  • Corporate
  • Banking and Credit
  • Derivatives
  • Tax
  • Industrials and Chemicals
  • Technology

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
    Isaac C. Beerman
    Title
    Corporate
    Title
    Partner
    Email
    ibeerman@cravath.com
    Phone
    +1-212-474-1048
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      Education

      • J.D., 2010, Harvard Law School
      • B.A., 2006, University of North Carolina at Chapel Hill
        Phi Beta Kappa, 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
        Photo
        Name
        Elizabeth Albert
        Title
        Corporate
        Title
        Of Counsel
        Email
        ealbert@cravath.com
        Phone
        +1-212-474-1962
        vCard
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          Education

          • J.D., 1987, Yale Law School
            with Honors
          • A.B., 1984, Harvard College
            cum laude

          Admitted In

          • New York

          Related News & Insights

          Deals & Cases

          January 08, 2026

          Genmab’s $3.5 Billion of Credit Facilities and Offering of $1.5 Billion Senior Secured Notes and $1 Billion Senior Unsecured Notes in Connection with its Acquisition of Merus

          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.

          Deals & Cases

          December 24, 2025

          Ameren’s $3.2 Billion of Revolving Credit Facilities

          Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with $3.2 billion of revolving credit facilities made available to Ameren Corporation and Union Electric Company (the “Missouri Borrowers”) and Ameren Corporation and Ameren Illinois Company (the “Illinois Borrowers”). Ameren Corporation is an American power company that engages in the rate‑regulated electric generation, transmission and distribution activities; and rate‑regulated natural gas distribution and transmission businesses. The facilities consisted of a $1.9 billion revolving credit facility (Missouri Borrowers) and $1.3 billion revolving credit facility (Illinois Borrowers). The transaction closed on December 10, 2025.

          Deals & Cases

          November 24, 2025

          Thomson Reuters Corporation’s $2 Billion Revolving Credit Facility

          Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $2 billion revolving credit facility made available to Thomson Reuters Corporation, a leading AI and technology company empowering professionals with trusted content and workflow automation. The transaction closed on November 10, 2025.

          Deals & Cases

          October 30, 2025

          Valero Energy Corporation’s $4 Billion Revolving Credit Facility

          Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $4 billion revolving credit facility made available to Valero Energy Corporation, a leading multinational manufacturer and marketer of petroleum‑based and low‑carbon liquid transportation fuels and petrochemical products. The transaction closed on October 16, 2025.

          Cravath Bicentennial

          Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.

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