JPMorgan Arranges $816 Million Credit Facility for NBA
June 11, 2010
Cravath represented JPMorgan as arranger and administrative agent in connection with a $816 million League-Wide Revolving Credit Facility made available to teams of the National Basketball Association. The Facility is secured by the NBA’s national media revenues and other NBA-related assets, and allows 16 participating teams to obtain favorable financing linked to commercial paper rates. In addition, Cravath represented JPMorgan as agent in connection with the simultaneous issuance of $575 million of privately placed high-yield notes of various participating NBA teams that share in the League-Wide collateral arrangements.
The Cravath team included partner B. Robbins Kiessling and associates Jared W. DeMatteis and John R. Sobolewski.
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J.D., 1976, New York University School of LawOrder of the Coif, cum laude
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B.A., 1973, Yale Collegecum laude
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