Cravath’s New York Office Moves to Two Manhattan West
November 19, 2020
Following a virtual roundtable discussion in the Fall of 2020 with members of Cravath’s Capital Markets Practice, Lawdragon featured the Firm in the article “A Pandemic, a Hot Market and ‘All Systems Go’ for Cravath’s Capital Markets Team,” which published on October 30, 2020. In the piece, Cravath partners Philip J. Boeckman, Andrew J. Pitts, Craig F. Arcella, Alyssa K. Caples and Sasha Rosenthal‑Larrea discuss the trajectory of the COVID‑19 pandemic and its impact on the markets in the United States and Europe, how the Firm’s practice is integrated across the New York and London offices, and the group’s work with companies “assessing risk, liquidity and the future of their businesses in the most uncertain of times.” Lawdragon noted that “[d]espite a global economy that nearly ground to a halt, the Cravath Capital Markets team has had a white‑hot year,” with activity that “is thanks, in part, to the firm’s generalist nature, showcased by its breadth in representing both corporate issuers and investment banks” and “allowing it to pivot” from one potential capital solution to another across the debt and equity spectrum and help Cravath’s clients achieve best execution in a dynamic market.
In discussing the impact of the pandemic, the feature covers the high‑yield bond and IPO markets, volatility in financing, restructuring options and SPACs as an alternative to traditional IPOs.
Deals & Cases
August 14, 2020
Cravath represented J.P. Morgan Securities plc, as initial purchaser, in connection with the £290 million 144A/Reg. S high‑yield senior secured notes offering of Hurricane Finance plc, guaranteed by Hurricane Bidco Limited, Paymentsense Limited and Paymentsense Ireland Limited and, as arranger, in connection with the concurrent entry into a £90 million PIK loan by Hurricane Cleanco Limited. Paymentsense is the United Kingdom’s leading digital commerce platform serving approximately 82,000 small and medium sized businesses in the United Kingdom and Ireland. The notes were listed on The International Stock Exchange. The transaction closed on August 14, 2020.
Deals & Cases
September 30, 2020
Cravath represented the Founders of Palantir Technologies Inc. (“Palantir”) in connection with Palantir’s direct listing and the structuring and negotiation of the governance structure. Palantir develops and builds data‑logic platforms for governmental and commercial institutions and people. Shares began trading on the New York Stock Exchange on September 30, 2020.
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