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Cravath’s London Office Moves to 100 Cheapside

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Christopher J.
Kelly

Partner, Corporate

cjkelly@cravath.com
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Christopher J. Kelly has a broad banking practice, with experience in syndicated lending, finance and related matters for both financial lending institutions and corporate borrowers.

Mr. Kelly’s representative matters have included:

  • Strategic acquisition financings in connection with Ashland’s acquisition of Pharmachem Laboratories, Biovail’s merger of equals with Valeant Pharmaceuticals, Disney’s acquisition of 21st Century Fox, Extreme Reach’s acquisition of Digital Generation, the acquisition by The Kraft Group and Schwarz Partners of New‑Indy Containerboard, Laborie’s acquisition of Cogentix Medical, New Media’s acquisition of Gannett and Scientific Games’ acquisition of WMS Industries;
  • Private equity acquisition financings in connection with Ares Management’s acquisition of Insight Global, the acquisition by Ares Management and the Canadian Pension Plan Investment Board of Neiman Marcus, the acquisition by EQT and Goldman Sachs Asset Management of Parexel, the acquisition by EQT of Storable, the acquisition by Golden Gate Capital of Extensity and Aspect Software, MacAndrews & Forbes’ investment in Scientific Games, Onex’s acquisition of The Warranty Group, Permira’s acquisition of WeddingWire, Temasek’s acquisition of Global Healthcare Exchange and TPG’s acquisition of Vertafore;
  • Advising on a diverse range of bank financings for borrower‑side clients such as Amblin Partners and Steven Spielberg, AMG Critical Materials, Ashland, Brunswick, Crown Castle, Fortress, Gannett, Gopuff, Illumina, Qualcomm, TerraForm Power, Valvoline, WestRock and WorldStrides;
  • Advising leading financial institutions in connection with loans provided to companies such as Allegion, Alvaria, ASC Engineered Solutions, Belron, Braun, Burger King, Chemours, Citadel Securities, Claire’s, Compass Minerals, Concentra, Cumulus Media, Entegra, First Student, GrafTech, Infor, Insight Global, International Markets Centers, Itron, Kaman, Laborie, Live Nation, Navistar, New Era Cap Company, New‑Indy Containerboard, Q’Straint, SCA Health, Seadrill, Seagate Technology, TI Automotive, Trane Technologies, TRW Automotive, USG Corporation, Vectrus and Vertafore, as well as financial sponsors such as Ares, Blue Owl / Owl Rock, Brookfield, Golden Gate Capital and One Equity Partners;
  • Asset-based credit facilities and other structured financings for companies such as Ashland, Claire’s, Crown Castle, New Era Cap Company, PETCO Animal Supplies, USG Corporation and WestRock; and
  • Restructurings and distressed financings including representing Credit Suisse Asset Management on matters relating to supply chain financing arrangements between Bluestone Resources and Greensill Capital, Eurazeo as Debtor‑in‑Possession (“DIP”) lender in the chapter 11 proceedings of WorldStrides, Fifth Season Investments as DIP lender in the chapter 11 proceedings of GWG, PG&E in financing matters related to its reorganization proceedings under chapter 11 and the agent and arranger of financing provided to YRC Worldwide as part of a recapitalization transaction.

Mr. Kelly has been recognized by Lawdragon as among the “500 Leading Dealmakers in America.”

Mr. Kelly was born in Mount Kisco, New York. He received a B.A. summa cum laude from Columbia University in 1996, where he was elected to Phi Beta Kappa, and a J.D. from Harvard Law School in 1999, where he was Supervising Editor of the Journal on Legislation.

Mr. Kelly joined Cravath in 1999 and was elected a partner in 2022.

Mr. Kelly’s representative matters have included:

  • Strategic acquisition financings in connection with Ashland’s acquisition of Pharmachem Laboratories, Biovail’s merger of equals with Valeant Pharmaceuticals, Disney’s acquisition of 21st Century Fox, Extreme Reach’s acquisition of Digital Generation, the acquisition by The Kraft Group and Schwarz Partners of New‑Indy Containerboard, Laborie’s acquisition of Cogentix Medical, New Media’s acquisition of Gannett and Scientific Games’ acquisition of WMS Industries;
  • Private equity acquisition financings in connection with Ares Management’s acquisition of Insight Global, the acquisition by Ares Management and the Canadian Pension Plan Investment Board of Neiman Marcus, the acquisition by EQT and Goldman Sachs Asset Management of Parexel, the acquisition by EQT of Storable, the acquisition by Golden Gate Capital of Extensity and Aspect Software, MacAndrews & Forbes’ investment in Scientific Games, Onex’s acquisition of The Warranty Group, Permira’s acquisition of WeddingWire, Temasek’s acquisition of Global Healthcare Exchange and TPG’s acquisition of Vertafore;
  • Advising on a diverse range of bank financings for borrower‑side clients such as Amblin Partners and Steven Spielberg, AMG Critical Materials, Ashland, Brunswick, Crown Castle, Fortress, Gannett, Gopuff, Illumina, Qualcomm, TerraForm Power, Valvoline, WestRock and WorldStrides;
  • Advising leading financial institutions in connection with loans provided to companies such as Allegion, Alvaria, ASC Engineered Solutions, Belron, Braun, Burger King, Chemours, Citadel Securities, Claire’s, Compass Minerals, Concentra, Cumulus Media, Entegra, First Student, GrafTech, Infor, Insight Global, International Markets Centers, Itron, Kaman, Laborie, Live Nation, Navistar, New Era Cap Company, New‑Indy Containerboard, Q’Straint, SCA Health, Seadrill, Seagate Technology, TI Automotive, Trane Technologies, TRW Automotive, USG Corporation, Vectrus and Vertafore, as well as financial sponsors such as Ares, Blue Owl / Owl Rock, Brookfield, Golden Gate Capital and One Equity Partners;
  • Asset-based credit facilities and other structured financings for companies such as Ashland, Claire’s, Crown Castle, New Era Cap Company, PETCO Animal Supplies, USG Corporation and WestRock; and
  • Restructurings and distressed financings including representing Credit Suisse Asset Management on matters relating to supply chain financing arrangements between Bluestone Resources and Greensill Capital, Eurazeo as Debtor‑in‑Possession (“DIP”) lender in the chapter 11 proceedings of WorldStrides, Fifth Season Investments as DIP lender in the chapter 11 proceedings of GWG, PG&E in financing matters related to its reorganization proceedings under chapter 11 and the agent and arranger of financing provided to YRC Worldwide as part of a recapitalization transaction.

Mr. Kelly has been recognized by Lawdragon as among the “500 Leading Dealmakers in America.”

Mr. Kelly was born in Mount Kisco, New York. He received a B.A. summa cum laude from Columbia University in 1996, where he was elected to Phi Beta Kappa, and a J.D. from Harvard Law School in 1999, where he was Supervising Editor of the Journal on Legislation.

Mr. Kelly joined Cravath in 1999 and was elected a partner in 2022.

Education

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

Admitted In

  • New York

Professional Affiliations

American Bar Association

Rankings

Lawdragon

  • 500 Leading Dealmakers in America (2024)

Deals & Cases

October 29, 2024

Gannett Holdings LLC’s Term Loan Facility

Cravath represented Gannett Holdings LLC in connection with its $900 million senior secured term loan facility. Gannett Holdings LLC is a wholly owned subsidiary of Gannett Co., Inc., a leading diversified media company with expansive reach at the national and local level dedicated to empowering and enriching communities. The transaction closed on October 15, 2024. 

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 24, 2024

Illumina’s Completed Divestiture of GRAIL

On June 24, 2024, Illumina, Inc. (“Illumina”), a global leader in DNA sequencing and array-based technologies, announced the successful completion of the spin-off of GRAIL, a healthcare company whose mission is to detect cancer early. This follows Illumina’s previously announced plans to divest GRAIL, and GRAIL is now a public and independent company. The separation was achieved through the distribution of 85.5% of the outstanding shares of GRAIL to holders of Illumina common stock on June 24, 2024. In addition to retaining their shares of Illumina common stock, Illumina shareholders received one share of GRAIL common stock for every six shares of Illumina stock held as of close of business on the record date of June 13, 2024. Illumina retained 14.5% of the outstanding shares of GRAIL common stock. Cravath represented Illumina in connection with the transaction.

Deals & Cases

May 07, 2024

Ashland’s Sale of its Nutraceuticals Business to Turnspire Capital Partners

On May 7, 2024, Ashland Inc. (“Ashland”), a global additives and specialty ingredients company, announced that it has signed a definitive agreement to sell its nutraceuticals business to Turnspire Capital Partners LLC. Cravath is representing Ashland in connection with the transaction.

Deals & Cases

December 18, 2023

ZimVie’s Sale of its Spine Business to H.I.G. Capital

On December 18, 2023, ZimVie Inc. (“ZimVie”), a global life sciences leader in the dental and spine markets, announced it has entered into a definitive agreement to sell its spine business to H.I.G. Capital, a leading global alternative investment firm. Under the terms of the agreement, upon the closing of the transaction, ZimVie will receive $375 million in total consideration, comprised of $315 million in cash, subject to certain customary adjustments as set forth in the agreement, and $60 million in the form of a promissory note that will accrue interest at a rate of 10% per annum, compounded semi‑annually, payable in kind. Cravath is representing ZimVie in connection with the transaction.

Christopher J. Kelly has a broad banking practice, with experience in syndicated lending, finance and related matters for both financial lending institutions and corporate borrowers.

Mr. Kelly’s representative matters have included:

  • Strategic acquisition financings in connection with Ashland’s acquisition of Pharmachem Laboratories, Biovail’s merger of equals with Valeant Pharmaceuticals, Disney’s acquisition of 21st Century Fox, Extreme Reach’s acquisition of Digital Generation, the acquisition by The Kraft Group and Schwarz Partners of New‑Indy Containerboard, Laborie’s acquisition of Cogentix Medical, New Media’s acquisition of Gannett and Scientific Games’ acquisition of WMS Industries;
  • Private equity acquisition financings in connection with Ares Management’s acquisition of Insight Global, the acquisition by Ares Management and the Canadian Pension Plan Investment Board of Neiman Marcus, the acquisition by EQT and Goldman Sachs Asset Management of Parexel, the acquisition by EQT of Storable, the acquisition by Golden Gate Capital of Extensity and Aspect Software, MacAndrews & Forbes’ investment in Scientific Games, Onex’s acquisition of The Warranty Group, Permira’s acquisition of WeddingWire, Temasek’s acquisition of Global Healthcare Exchange and TPG’s acquisition of Vertafore;
  • Advising on a diverse range of bank financings for borrower‑side clients such as Amblin Partners and Steven Spielberg, AMG Critical Materials, Ashland, Brunswick, Crown Castle, Fortress, Gannett, Gopuff, Illumina, Qualcomm, TerraForm Power, Valvoline, WestRock and WorldStrides;
  • Advising leading financial institutions in connection with loans provided to companies such as Allegion, Alvaria, ASC Engineered Solutions, Belron, Braun, Burger King, Chemours, Citadel Securities, Claire’s, Compass Minerals, Concentra, Cumulus Media, Entegra, First Student, GrafTech, Infor, Insight Global, International Markets Centers, Itron, Kaman, Laborie, Live Nation, Navistar, New Era Cap Company, New‑Indy Containerboard, Q’Straint, SCA Health, Seadrill, Seagate Technology, TI Automotive, Trane Technologies, TRW Automotive, USG Corporation, Vectrus and Vertafore, as well as financial sponsors such as Ares, Blue Owl / Owl Rock, Brookfield, Golden Gate Capital and One Equity Partners;
  • Asset-based credit facilities and other structured financings for companies such as Ashland, Claire’s, Crown Castle, New Era Cap Company, PETCO Animal Supplies, USG Corporation and WestRock; and
  • Restructurings and distressed financings including representing Credit Suisse Asset Management on matters relating to supply chain financing arrangements between Bluestone Resources and Greensill Capital, Eurazeo as Debtor‑in‑Possession (“DIP”) lender in the chapter 11 proceedings of WorldStrides, Fifth Season Investments as DIP lender in the chapter 11 proceedings of GWG, PG&E in financing matters related to its reorganization proceedings under chapter 11 and the agent and arranger of financing provided to YRC Worldwide as part of a recapitalization transaction.

Mr. Kelly has been recognized by Lawdragon as among the “500 Leading Dealmakers in America.”

Mr. Kelly was born in Mount Kisco, New York. He received a B.A. summa cum laude from Columbia University in 1996, where he was elected to Phi Beta Kappa, and a J.D. from Harvard Law School in 1999, where he was Supervising Editor of the Journal on Legislation.

Mr. Kelly joined Cravath in 1999 and was elected a partner in 2022.

Mr. Kelly’s representative matters have included:

  • Strategic acquisition financings in connection with Ashland’s acquisition of Pharmachem Laboratories, Biovail’s merger of equals with Valeant Pharmaceuticals, Disney’s acquisition of 21st Century Fox, Extreme Reach’s acquisition of Digital Generation, the acquisition by The Kraft Group and Schwarz Partners of New‑Indy Containerboard, Laborie’s acquisition of Cogentix Medical, New Media’s acquisition of Gannett and Scientific Games’ acquisition of WMS Industries;
  • Private equity acquisition financings in connection with Ares Management’s acquisition of Insight Global, the acquisition by Ares Management and the Canadian Pension Plan Investment Board of Neiman Marcus, the acquisition by EQT and Goldman Sachs Asset Management of Parexel, the acquisition by EQT of Storable, the acquisition by Golden Gate Capital of Extensity and Aspect Software, MacAndrews & Forbes’ investment in Scientific Games, Onex’s acquisition of The Warranty Group, Permira’s acquisition of WeddingWire, Temasek’s acquisition of Global Healthcare Exchange and TPG’s acquisition of Vertafore;
  • Advising on a diverse range of bank financings for borrower‑side clients such as Amblin Partners and Steven Spielberg, AMG Critical Materials, Ashland, Brunswick, Crown Castle, Fortress, Gannett, Gopuff, Illumina, Qualcomm, TerraForm Power, Valvoline, WestRock and WorldStrides;
  • Advising leading financial institutions in connection with loans provided to companies such as Allegion, Alvaria, ASC Engineered Solutions, Belron, Braun, Burger King, Chemours, Citadel Securities, Claire’s, Compass Minerals, Concentra, Cumulus Media, Entegra, First Student, GrafTech, Infor, Insight Global, International Markets Centers, Itron, Kaman, Laborie, Live Nation, Navistar, New Era Cap Company, New‑Indy Containerboard, Q’Straint, SCA Health, Seadrill, Seagate Technology, TI Automotive, Trane Technologies, TRW Automotive, USG Corporation, Vectrus and Vertafore, as well as financial sponsors such as Ares, Blue Owl / Owl Rock, Brookfield, Golden Gate Capital and One Equity Partners;
  • Asset-based credit facilities and other structured financings for companies such as Ashland, Claire’s, Crown Castle, New Era Cap Company, PETCO Animal Supplies, USG Corporation and WestRock; and
  • Restructurings and distressed financings including representing Credit Suisse Asset Management on matters relating to supply chain financing arrangements between Bluestone Resources and Greensill Capital, Eurazeo as Debtor‑in‑Possession (“DIP”) lender in the chapter 11 proceedings of WorldStrides, Fifth Season Investments as DIP lender in the chapter 11 proceedings of GWG, PG&E in financing matters related to its reorganization proceedings under chapter 11 and the agent and arranger of financing provided to YRC Worldwide as part of a recapitalization transaction.

Mr. Kelly has been recognized by Lawdragon as among the “500 Leading Dealmakers in America.”

Mr. Kelly was born in Mount Kisco, New York. He received a B.A. summa cum laude from Columbia University in 1996, where he was elected to Phi Beta Kappa, and a J.D. from Harvard Law School in 1999, where he was Supervising Editor of the Journal on Legislation.

Mr. Kelly joined Cravath in 1999 and was elected a partner in 2022.

Education

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

Admitted In

  • New York

Professional Affiliations

American Bar Association

Rankings

Lawdragon

  • 500 Leading Dealmakers in America (2024)

Deals & Cases

October 29, 2024

Gannett Holdings LLC’s Term Loan Facility

Cravath represented Gannett Holdings LLC in connection with its $900 million senior secured term loan facility. Gannett Holdings LLC is a wholly owned subsidiary of Gannett Co., Inc., a leading diversified media company with expansive reach at the national and local level dedicated to empowering and enriching communities. The transaction closed on October 15, 2024. 

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 24, 2024

Illumina’s Completed Divestiture of GRAIL

On June 24, 2024, Illumina, Inc. (“Illumina”), a global leader in DNA sequencing and array-based technologies, announced the successful completion of the spin-off of GRAIL, a healthcare company whose mission is to detect cancer early. This follows Illumina’s previously announced plans to divest GRAIL, and GRAIL is now a public and independent company. The separation was achieved through the distribution of 85.5% of the outstanding shares of GRAIL to holders of Illumina common stock on June 24, 2024. In addition to retaining their shares of Illumina common stock, Illumina shareholders received one share of GRAIL common stock for every six shares of Illumina stock held as of close of business on the record date of June 13, 2024. Illumina retained 14.5% of the outstanding shares of GRAIL common stock. Cravath represented Illumina in connection with the transaction.

Deals & Cases

May 07, 2024

Ashland’s Sale of its Nutraceuticals Business to Turnspire Capital Partners

On May 7, 2024, Ashland Inc. (“Ashland”), a global additives and specialty ingredients company, announced that it has signed a definitive agreement to sell its nutraceuticals business to Turnspire Capital Partners LLC. Cravath is representing Ashland in connection with the transaction.

Deals & Cases

December 18, 2023

ZimVie’s Sale of its Spine Business to H.I.G. Capital

On December 18, 2023, ZimVie Inc. (“ZimVie”), a global life sciences leader in the dental and spine markets, announced it has entered into a definitive agreement to sell its spine business to H.I.G. Capital, a leading global alternative investment firm. Under the terms of the agreement, upon the closing of the transaction, ZimVie will receive $375 million in total consideration, comprised of $315 million in cash, subject to certain customary adjustments as set forth in the agreement, and $60 million in the form of a promissory note that will accrue interest at a rate of 10% per annum, compounded semi‑annually, payable in kind. Cravath is representing ZimVie in connection with the transaction.

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