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News & Insights

Qualcomm’s $4.47 Billion Revolving Credit Facility

December 07, 2020

Cravath represented the borrower, Qualcomm Incorporated, in connection with its $4.47 billion revolving credit facility provided by Bank of America, as administrative agent, to be used for working capital, capital expenditures and other general corporate purposes. Qualcomm is a global leader in the development and commercialization of foundation technologies and products used in mobile devices and other wireless products. The transaction closed on December 8, 2020.

The Cravath team included partner George E. Zobitz, of counsel Christopher J. Kelly and associate Maria Ricaurte on banking matters, and partner J. Leonard Teti II and associate Cecily Xi on tax matters.

 

Related Practices & Industries

  • Corporate
  • Banking and Credit
  • Tax
  • Technology

People

Name
George E. Zobitz
Title
Corporate
Title
Partner
Email
jzobitz@cravath.com
Phone
+1-212-474-1996
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    Education

    • J.D., 1995, New York University School of Law
      with Honors, cum laude
    • B.A., 1991, Franklin & Marshall College

    Admitted In

    • New York
    Photo
    Name
    Christopher J. Kelly
    Title
    Corporate
    Title
    Partner
    Email
    cjkelly@cravath.com
    Phone
    +1-212-474-1406
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      Education

      • J.D., 1999, Harvard Law School
      • B.A., 1996, Columbia University
        Phi Beta Kappa, summa cum laude

      Admitted In

      • New York
      Photo
      Name
      J. Leonard Teti II
      Title
      Tax
      Title
      Partner
      Email
      lteti@cravath.com
      Phone
      +1-212-474-1896
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        Education

        • J.D., 2005, University of Virginia School of Law
          Order of the Coif
        • A.B., 1999, Princeton University
          with Honors

        Admitted In

        • New York

        Related News & Insights

        Deals & Cases

        June 04, 2025

        QUALCOMM Incorporated’s $1.5 Billion Registered Notes Offering

        Cravath represented QUALCOMM Incorporated in connection with its $1.5 billion registered notes offering. QUALCOMM Incorporated is a global technology leader, helping to bring intelligent computing everywhere through the development and commercialization of foundational technologies. The transaction closed on May 21, 2025.

        Deals & Cases

        August 22, 2024

        QUALCOMM Incorporated’s $4 Billion Revolving Credit Facility

        Cravath represented QUALCOMM Incorporated in connection with its $4 billion revolving credit. QUALCOMM Incorporated is a global leader in the development and commercialization of foundational technologies for the wireless industry. The transaction closed on August 8, 2024.

        Deals & Cases

        June 16, 2017

        Qualcomm Directors and Officers Win Dismissal of Shareholder Derivative Suit Related to Purported FCPA Violations

        On June 16, 2017, the Delaware Court of Chancery dismissed a stockholder derivative lawsuit brought against current and former directors and officers of Qualcomm Incorporated alleging, among other claims, that defendants breached their fiduciary duties by allegedly failing to prevent purported FCPA violations by the company. In granting the dismissal, Vice Chancellor Tamika R. Montgomery‑Reeves held that the complaint did not plead sufficient facts to infer that the individual defendants had acted in bad faith or that the directors faced a substantial likelihood of personal liability such that plaintiffs’ failure to make a demand on the board to bring a suit was excused.

        Deals & Cases

        September 08, 2011

        Qualcomm Granted Consolidation Order in PJC Lawsuit

        On September 6, 2011, the U.S. Judicial Panel on Multidistrict Litigation granted Cravath client Qualcomm Inc.’s request to centralize 11 lawsuits over PJC Logistics LLC’s vehicle tracking patent in Minnesota Federal Court. PJC alleged that certain mobile fleet management products manufactured by Qualcomm, and installed on hundreds of thousands of trucks and other vehicles, infringe U.S. Patent No. 5,223,844. In March 2011, PJC brought actions in nine district courts against hundreds of customers of fleet management products. In April 2011, Qualcomm filed a declaratory judgment action in the District of Minnesota alleging that the patent is invalid and not infringed by Qualcomm’s products. PJC subsequently filed additional infringement actions against Qualcomm and other suppliers of allegedly infringing fleet management systems in Texas. Qualcomm moved the Judicial Panel on Multidistrict Litigation to transfer all the actions to the District of Minnesota for coordinated pre-trial proceedings. After oral argument in July 2011, Qualcomm’s motion was granted.

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