Craig F.
Arcella

Cravath represented the underwriters in connection with the $2 billion registered notes offering of Hewlett Packard Enterprise Company, an industry leading technology company. The transaction closed on March 23, 2026.

Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with $1.35 billion of credit facilities made available to subsidiaries of Versigent Limited, a global leader in the design, development and manufacture of low voltage and high voltage electrical architectures and the holding company for Aptiv PLC’s Electrical Distribution Systems segment, which Aptiv PLC spun off into a separate, independent, publicly traded company. The proceeds were used to partially finance the spin‑off. The credit facilities consisted of a $500 million term loan facility and an $850 million revolving credit facility. The transaction closed on November 26, 2025.

Cravath represented Hasbro Inc. in connection with its $400 million registered notes offering. Hasbro, Inc., together with its subsidiaries, operates as a play and entertainment company. The transaction closed on March 12, 2026. 

Cravath represented the initial purchasers in connection with the $700 million 144A/Reg. S high‑yield senior notes offering of The Chemours Company a leading, global provider of performance chemicals. The transaction closed on March 12, 2026.

Cravath represented the underwriters in connection with the $2.5 billion registered senior notes offering of Royal Caribbean Cruises Ltd., a global cruise company. The notes were listed on The International Stock Exchange. The transaction closed on February 27, 2026.

On March 11, 2026, Cravath prepared a memo for its clients entitled “FPI Section 16(a) Reporting Update: Final Rules, Conditional Exemptive Relief Order and Frequently Asked Questions.” The memo examines the U.S. Securities and Exchange Commission’s adoption of final rule and form amendments and issuance of a conditional exemptive relief order, as well as the Frequently Asked Questions posted by staff of the Division of Corporation Finance of the SEC, ahead of the March 18, 2026, deadline for compliance with the Holding Foreign Insiders Accountable Act.

On December 23, 2025, Cravath prepared a memo for its clients entitled “Section 16(a) Share Ownership and Transaction Reporting Obligations to Apply to Directors and Officers of Foreign Private Issuers from March 18, 2026.” The memo examines the Holding Foreign Insiders Accountable Act and how directors and officers of foreign private issuers will be required to comply with the share ownership and transaction reporting obligations of paragraph (a) of Section 16 of the Securities Exchange Act of 1934 within 90 days of the enactment of the 2026 U.S. National Defense Authorization Act.

On June 11, 2025, Cravath prepared a memo for its clients entitled “SEC Solicits Public Comment on the Eligibility Criteria for Foreign Private Issuer Status.” The memo examines a concept release recently published by the U.S. Securities and Exchange Commission to seek public comment on whether to revise the “foreign private issuer” definition in light of shifting trends in the characteristics of the FPI population.