Cravath’s London Office Moves to 100 Cheapside
Cravath represented Fortress Transportation & Infrastructure Investors LLC (“FTAI”) in connection with its $131 million registered common stock offering. FTAI, which is externally managed by an affiliate of Fortress Investment Group LLC, owns and acquires high quality infrastructure and related equipment that is essential for the transportation of goods and people globally. The shares were listed on the New York Stock Exchange. The transaction closed on January 16, 2018.
The Cravath team included associates William F. Roegge, Sarah R. Jacobson and Eliza S. Marshall on securities matters; associates Peter W. Rogers and Andrew L. Mandelbaum on tax matters; and associates Michelle M. Garrett and Aaron J. Feuer on executive compensation and benefits matters. Jeffrey M. Amico also worked on securities matters.
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Deals & Cases
November 18, 2025
Ripple Labs, Inc.’s Private Placement of Class A Common Stock
Cravath represented funds managed by affiliates of Brevan Howard in connection with an investment in Ripple Labs, Inc., consisting of a private placement of Class A Common Stock, as part of Ripple’s $500 million strategic investment at a $40 billion valuation, led by funds managed by affiliates of Fortress Investment Group, affiliates of Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace. The transaction closed on November 4, 2025.
Deals & Cases
October 31, 2025
Danaos Corporation’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 Danaos Corporation, a global shipping company that operates one of the world's largest fleets of containerships. The transaction closed on October 17, 2025.
Deals & Cases
October 27, 2025
Cleveland‑Cliffs Inc.’s High‑Yield Senior Guaranteed Notes Offering
Cravath represented the initial purchaser in connection with the $275 million 144A/Reg. S high‑yield senior guaranteed notes offering of Cleveland‑Cliffs Inc., a leading North America‑based steel producer. The transaction closed on October 10, 2025.
Deals & Cases
October 15, 2025
Royal Caribbean Cruises Ltd.’s $1.5 Billion Registered Senior Notes Offering
Cravath represented the underwriters in connection with the $1.5 billion registered senior notes offering of Royal Caribbean Cruises Ltd., a global cruise company. The transaction closed on October 1, 2025.
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