Cravath’s London Office Moves to 100 Cheapside
Cravath represented the underwriters, BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities, Barclays, Citigroup and Credit Suisse, in connection with the offering of US$400 million principal amount of 6-1/8% senior unsecured notes due 2023 by United Rentals (North America), Inc., a subsidiary of United Rentals, Inc. The transaction closed on October 30, 2012. United Rentals, Inc. is the largest equipment rental company in the world.
The Cravath team included partner William V. Fogg and associates Edward J. Reed and Gillian L. Warmflash on corporate matters and partner Matthew Morreale on environmental matters. Jennifer L. Tanaka and Brent R. Tomlinson also worked on corporate matters, and Jason A. Sacks worked on tax matters.
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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