Cravath, Swaine & Moore LLP Logo
  • Practices
  • People
  • Careers
  • News & Insights
  • Practices
  • People
  • Careers
  • News & Insights
  • Our Story
  • The Cravath System
  • Diversity & Inclusion
  • Pro Bono
  • Alumni Journal
  • 200.Cravath

Cravath Publishes Winter 2026 Issue of Alumni Journal

Read More

News & Insights

Level 3 Financing, Inc.’s $1.5 Billion High‑Yield Senior Debt Offering

April 28, 2015

Cravath represented the initial purchasers, led by Citigroup and BofA Merrill Lynch, in connection with the US$1.5 billion 144A/Reg. S high‑yield senior debt offering of Level 3 Financing, Inc., guaranteed by Level 3 Communications, Inc., a facilities‑based provider of a broad range of integrated communications services. The transaction closed on April 28, 2015.

The Cravath team included partner Andrew J. Pitts and associate Bethany A. Pfalzgraf on securities matters and Of Counsel Michael L. Schler and associate Peter W. Rogers on tax matters. Alex M. Dzioba also worked on this matter.

Related Practices & Industries

  • Corporate
  • Capital Markets
  • Tax
  • Telecommunications

People

Photo
Name
Andrew J. Pitts
Title
Corporate
Title
Partner
Email
apitts@cravath.com
Phone
+1-212-474-1620
vCard
Download vCard

    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
    Photo
    Name
    Michael L. Schler
    Title
    Tax
    Title
    Retired Partner
    Email
    mschler@cravath.com
    Phone
    +1-212-474-1999
    vCard
    Download vCard

      Education

      • LL.M., 1979, New York University
      • J.D., 1973, Yale Law School
      • B.A., 1970, Harvard University
        magna cum laude

      Related News & Insights

      Deals & Cases

      January 23, 2026

      Level 3 Financing Inc.’s High‑Yield Senior Notes Tack‑On Offering and Concurrent $2.2 Billion Cash Tender Offer

      Cravath represented the initial purchasers in connection with the $650 million 144A/Reg. S high‑yield senior notes tack‑on offering of Level 3 Financing, Inc., guaranteed by Level 3 Parent, LLC. Level 3 Financing, Inc. is a direct wholly‑owned subsidiary of Level 3 Parent, LLC and indirect wholly‑owned subsidiary of Lumen Technologies, Inc., a facilities‑based technology and communications company that provides a broad array of integrated products and services. Cravath also represented the dealer managers in connection with Level 3 Financing, Inc.'s concurrent $2.2 billion cash tender offer. The transactions closed on January 9, 2026.

      Deals & Cases

      September 24, 2025

      Level 3 Financing, Inc.’s High‑Yield First Lien Notes Tack‑On Offering

      Cravath represented the initial purchasers in connection with the $425 million 144A/Reg. S high‑yield first lien notes tack‑on offering of Level 3 Financing, Inc., guaranteed by Level 3 Parent, LLC. Level 3 Financing, Inc. is a direct wholly‑owned subsidiary of Level 3 Parent, LLC and indirect wholly‑owned subsidiary of Lumen Technologies, Inc., a facilities‑based technology and communications company that provides a broad array of integrated products and services. The transaction closed on September 8, 2025.

      Deals & Cases

      February 13, 2025

      Financing for Marlin Equity Partners’ Acquisition of EIDO Healthcare

      On February 4, 2025, Marlin Equity Partners, a leading global investment firm, announced its acquisition of EIDO Healthcare, a leading provider of digital consent and patient information solutions. EIDO Healthcare will be combined with Radar Healthcare, an existing Marlin Equity Partners portfolio company and a provider of risk, quality, and compliance software for the healthcare and social care sectors. Cravath represented Marlin Equity Partners in the committed debt financing in connection with the transaction.

      Deals & Cases

      October 02, 2024

      Financing for Investcorp’s Acquisition of Stowe Family Law Holdings Limited

      On September 25, 2024, Investcorp a leading global alternative investment firm, announced its acquisition of Stowe Family Law Holdings Limited, the largest specialist family law firm in the United Kingdom. Cravath represented Investcorp in the committed debt financing in connection with the transaction.

      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.

      Explore

      Cravath, Swaine & Moore LLP Logo
      • CONTACT US
      • OUR STORY
      • ALUMNI PORTAL
      • DISCLAIMERS & NOTICES

      Attorney Advertising. ©2026 Cravath, Swaine & Moore LLP.