Cravath’s London Office Moves to 100 Cheapside
Cravath represented the initial purchasers, led by Citigroup and BofA Merrill Lynch, in connection with the US$500 million 144A/Reg. S 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 January 29, 2015.
The Cravath team included partner Andrew J. Pitts and associate Holden K. Sumner. Bethany A. Pfalzgraf also worked on this matter.
Deals & Cases
November 18, 2025
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
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
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
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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