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News & Insights

Keysight Technologies, Inc.’s £1.35 Billion Bridge Facility

March 29, 2024

Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with a £1.35 billion bridge facility made available to fund the proposed acquisition of Spirent Communications by Keysight Technologies, Inc., outbidding a previous proposal by Viavi Solutions. Keysight Technologies, Inc. is a global innovator in the computing, communications and electronics market. The transaction announced on March 28, 2024.

The Cravath team included partners Tatiana Lapushchik, Philip Stopford and Andrew J. Pitts, of counsel Kimberly A. Grousset and associates Obianuju A. Enworom, William Edin, Alan J. Steiner and Harry Poland.

Related Practices & Industries

  • Corporate
  • Banking and Credit
  • London
  • Technology

People

Photo
Name
Tatiana Lapushchik
Title
Corporate
Title
Partner
Email
tlapushchik@cravath.com
Phone
+1-212-474-1442
vCard
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    Education

    • J.D., 2000, Harvard Law School
      cum laude
    • B.A., 1997, Barnard College
      summa cum laude

    Admitted In

    • New York
    Photo
    Name
    Philip Stopford
    Title
    Corporate
    Title
    Partner
    Email
    pstopford@cravath.com
    Phone
    +44-20-7453-1050
    vCard
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      Education

      • LPC, 2006, Oxford Institute of Legal Practice
        with Distinction
      • PGDL, 2005, Oxford Brookes University
        with Merit
      • B.A., 2004, University of Oxford
        with Honors

      Admitted In

      • England & Wales
      Photo
      Name
      Andrew J. Pitts
      Title
      Corporate
      Title
      Partner
      Email
      apitts@cravath.com
      Phone
      +1-212-474-1620
      vCard
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        Education

        • M.B.A., 1995, Boston University
          with High Honors
        • J.D., 1994, Boston University School of Law
          summa cum laude
        • B.A., 1988, Trinity College

        Admitted In

        • New York

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        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.

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        Valero Energy Corporation’s $4 Billion Revolving Credit Facility

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