November 15, 2017
Cravath represented the initial purchasers, led by J.P. Morgan Securities, Goldman Sachs & Co. LLC, Citigroup and Deutsche Bank Securities, in connection with the $1.1 billion 144A/Reg. S high‑yield senior notes offering of Navistar International Corporation, a leading manufacturer of commercial trucks, buses, defense vehicles and engines. Cravath also represented the dealer manager in connection with Navistar’s concurrent cash tender offer. The transaction closed on November 6, 2017.
The Cravath team included partner Craig F. Arcella and associates Nicholas A. Dorsey and Quinn Wetherall on securities matters, and associate Andrew L. Mandelbaum on tax matters. Arash Ardalan also worked on securities matters.
Deals & Cases
March 31, 2025
Cravath represented the initial purchasers in connection with the $1 billion 144A/Reg S. high‑yield senior notes offering of Alumina Pty Ltd, a wholly owned subsidiary of Alcoa Corporation, a global industry leader in the production of bauxite, alumina and aluminum products. Cravath also represented the dealer managers in connection with the concurrent cash tender offers for notes of Alcoa Nederland Holding B.V., a wholly owned subsidiary of Alcoa Corporation, with an aggregate principal amount of up to $1 billion. The transactions closed on March 17, 2025.
Deals & Cases
March 21, 2025
Cravath represented the underwriters in connection with the $500 million fixed rate/floating rate senior notes offering of First Horizon Corporation, a holding company for First Horizon Bank that provides various financial services. The transaction closed on March 7, 2025.
Deals & Cases
March 14, 2025
Cravath represented the initial purchasers in connection with the $500 million Rule 144A high‑yield senior notes offering of Credit Acceptance Corporation, a leading independent auto finance company. The transaction closed on February 28, 2025.
Deals & Cases
March 07, 2025
Cravath represented the underwriters in connection with the $1 billion registered senior notes offering of Expedia Group, Inc., an online travel company. The transaction closed on February 21, 2025.
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