J.P. Morgan Securities and TD Securities Lead Initial Purchasers in Air Canada Secured Notes Offering

Cravath represented the initial purchasers, led by J.P. Morgan Securities and TD Securities, in connection with a US$1.1 billion three-tranche offering of debt securities of Air Canada. The offering consists of US$600 million of first-lien secured notes, C$300 million of Canadian dollar-denominated first-lien secured notes and US$200 million of second-lien secured notes. The transaction closed on August 3, 2010.

The Cravath team included senior attorney Mile T. Kurta and associates Elizabeth R. Gottshall and Michael A. Coyne on corporate matters.