Cravath’s London Office Moves to 100 Cheapside
Cravath represented the initial purchasers, led by Credit Suisse, Deutsche Bank Securities, Morgan Stanley and Jefferies, in connection with the US$625 million 144A/Reg. S high‑yield senior debt offering of Novolex, a leading North American manufacturer of value‑added paper and plastic flexible packaging products. Novolex is a portfolio company of The Carlyle Group. Proceeds of the offering were used to refinance bridge loans incurred to finance the acquisition of Novolex by The Carlyle Group. The transaction closed on January 17, 2017.
The Cravath team included partner Craig F. Arcella and associates Ankur N. Patel and Lee M. Blum. Michael Zhang also worked on this matter.
Deals & Cases
September 02, 2025
Cravath represented the initial purchasers in connection with the $2 billion 144A/Reg. S high-yield first lien notes 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 August 18, 2025.
Deals & Cases
June 30, 2025
Cravath represented the initial purchasers in connection with the $650 million 144A/Reg. S high‑yield senior notes offering of Compass Minerals International, Inc., a leading provider of essential minerals. The transaction closed on June 16, 2025.
Deals & Cases
June 27, 2025
Cravath represented the underwriters in connection with the $400 million fixed‑rate reset subordinated notes offering of Fidelis Insurance Holdings Limited, a global specialty insurer that leverages strategic partnerships to offer innovative and tailored insurance solutions. The transaction closed on June 13, 2025.
Deals & Cases
June 23, 2025
Cravath represented Toll Brothers Finance Corp. in connection with its $500 million registered senior notes offering, fully guaranteed by Toll Brothers, Inc. and certain of its subsidiaries. Toll Brothers Finance Corp. is an indirect wholly owned subsidiary of Toll Brothers, Inc., which designs, builds, markets, sells and arranges financing for an array of luxury residential homes and communities. The transaction closed on June 10, 2025.
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