Cravath’s London Office Moves to 100 Cheapside
At a hearing on April 29, 2009, the New Jersey Casino Control Commission (“NJCCC”) approved an asset purchase agreement relating to the credit bid by Credit Suisse, as agent on behalf of a group of secured lenders, for the acquisition of the Tropicana Casino & Resort in Atlantic City, New Jersey, through a bankruptcy auction. The credit bid will be the “stalking horse” bid in a contemplated Bankruptcy Code Section 363 sale. At the hearing, the NJCCC also authorized the filing of a voluntary bankruptcy petition by the owner of the Tropicana Atlantic City assets to facilitate that sale.
Cravath is representing Credit Suisse in both the credit bid and generally in the Tropicana Entertainment Chapter 11 cases. The lawyers involved in this matter include associate Joseph D. Zavaglia on corporate matters; partner Paul H. Zumbro, senior attorney Robert H. Trust and associate Mina M. Farbood on restructuring matters; and partner Andrew W. Needham on tax matters.
Deals & Cases
December 02, 2024
Cravath represented Morgan Stanley, as administrative agent, joint lead arranger, joint bookrunner and collateral agent, in connection with a $500 million revolving credit facility made available to DraftKings Inc. and certain of its subsidiaries. DraftKings Inc. operate as a digital sports entertainment and gaming company in the United States and internationally. The transaction closed on November 7, 2024.
Deals & Cases
October 29, 2024
Cravath represented the lead bookrunner in connection with a $700 million revolving credit facility made available to Reynolds Consumer Products Inc. Reynolds Consumer Products Inc. produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. The transaction closed on October 17, 2024.
Deals & Cases
August 21, 2024
Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with $3.1 billion of credit facilities made available to Aptiv PLC and certain of its subsidiaries. Aptiv PLC is a leading global technology and mobility architecture company primarily serving the automotive sector. The facilities consisted of a $2.5 billion bridge credit facility, used to partially finance the accelerated share repurchase of up to $3.0 billion of Aptiv PLC’s ordinary shares, and a $600 million term loan facility. The transactions closed on August 1, 2024, and August 19, 2024.
Deals & Cases
June 28, 2024
Cravath represented the term loan facility administrative agent and revolving credit facility administrative agent in connection with $2.43 billion of upsized credit facilities made available to Pactiv Evergreen Inc. and certain of its subsidiaries. Pactiv Evergreen Inc. is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The facilities consisted of an upsized $1.1 billion revolving credit facility and an upsized $1.33 billion term loan facility. The transactions closed on May 1, 2024, and May 28, 2024.
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