Cravath’s London Office Moves to 100 Cheapside
Kelly M. Smercina focuses her practice on representing corporate clients and investment banking firms in a wide range of capital markets and other financing transactions, including in connection with acquisitions and spin‑offs. She also has significant experience representing clients in mergers and acquisitions and corporate governance matters.
Ms. Smercina’s notable work highlights include:
- Representing Schneider National in its IPO and Corteva in the pending spin‑off of its Seed business
- Other equity offerings for companies such as Comtech, CyrusOne and Evolent Health
- Debt offerings for companies such as Aon, CBRE, Centene, Cincinnati Bell, Credit Acceptance, Dell, Expedia, HSBC USA, Kraft Heinz, Navistar, RingCentral, Six Flags, Toll Brothers, TransDigm, U.S. Concrete, Vantage Drilling International, Verisk and Webster Bank
- Private credit transactions for companies such as Artivion and New Media
- Capital markets and bank financings in connection with Amcor’s acquisition of Bemis, Aon’s acquisition of NFP, Expedia’s acquisition of HomeAway, Forward Air’s combination with Omni Logistics, multiple transactions involving Lindsay Goldberg and its portfolio companies, New Media’s acquisition of Gannett, Otis Worldwide’s spin‑off from United Technologies, Outbrain’s acquisition of Teads, Six Flags’ merger of equals with Cedar Fair and Verisk’s acquisition of AccuLynx
- Representing the special committee of the board of directors of EchoStar in the $26 billion combination with DISH Network
- Representing Buckeye in its $10.3 billion acquisition by IFM
- Representing SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation
- Representing AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses
- Representing Light & Wonder in the $6.05 billion sale of SG Lottery to Brookfield and in the $1.2 billion sale of OpenBet to Endeavor
- Representing Route Mobile and its founding shareholders in the ₹59.22 billion sale of a majority stake in Route Mobile to Proximus Group
Ms. Smercina is an author on legal developments in the areas of capital markets and finance, having contributed to publications such as Chambers’ Acquisition Finance Guide.
Ms. Smercina has been recognized for her work in capital markets by The Legal 500 US and has been named to the Lawdragon 500 X – The Next Generation list.
Ms. Smercina is from Brecksville, Ohio. She received a B.A. summa cum laude from the University of Notre Dame in 2011, where she was elected to Phi Beta Kappa, and a J.D. summa cum laude from the University of Michigan Law School in 2014, where she was Contributing Editor of the Law Review. Before joining Cravath, Ms. Smercina served as a law clerk to Hon. Diarmuid O’Scannlain of the U.S. Court of Appeals for the Ninth Circuit.
Ms. Smercina joined Cravath in 2015 and was elected a partner in 2022.
Ms. Smercina’s notable work highlights include:
- Representing Schneider National in its IPO and Corteva in the pending spin‑off of its Seed business
- Other equity offerings for companies such as Comtech, CyrusOne and Evolent Health
- Debt offerings for companies such as Aon, CBRE, Centene, Cincinnati Bell, Credit Acceptance, Dell, Expedia, HSBC USA, Kraft Heinz, Navistar, RingCentral, Six Flags, Toll Brothers, TransDigm, U.S. Concrete, Vantage Drilling International, Verisk and Webster Bank
- Private credit transactions for companies such as Artivion and New Media
- Capital markets and bank financings in connection with Amcor’s acquisition of Bemis, Aon’s acquisition of NFP, Expedia’s acquisition of HomeAway, Forward Air’s combination with Omni Logistics, multiple transactions involving Lindsay Goldberg and its portfolio companies, New Media’s acquisition of Gannett, Otis Worldwide’s spin‑off from United Technologies, Outbrain’s acquisition of Teads, Six Flags’ merger of equals with Cedar Fair and Verisk’s acquisition of AccuLynx
- Representing the special committee of the board of directors of EchoStar in the $26 billion combination with DISH Network
- Representing Buckeye in its $10.3 billion acquisition by IFM
- Representing SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation
- Representing AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses
- Representing Light & Wonder in the $6.05 billion sale of SG Lottery to Brookfield and in the $1.2 billion sale of OpenBet to Endeavor
- Representing Route Mobile and its founding shareholders in the ₹59.22 billion sale of a majority stake in Route Mobile to Proximus Group
Ms. Smercina is an author on legal developments in the areas of capital markets and finance, having contributed to publications such as Chambers’ Acquisition Finance Guide.
Ms. Smercina has been recognized for her work in capital markets by The Legal 500 US and has been named to the Lawdragon 500 X – The Next Generation list.
Ms. Smercina is from Brecksville, Ohio. She received a B.A. summa cum laude from the University of Notre Dame in 2011, where she was elected to Phi Beta Kappa, and a J.D. summa cum laude from the University of Michigan Law School in 2014, where she was Contributing Editor of the Law Review. Before joining Cravath, Ms. Smercina served as a law clerk to Hon. Diarmuid O’Scannlain of the U.S. Court of Appeals for the Ninth Circuit.
Ms. Smercina joined Cravath in 2015 and was elected a partner in 2022.
Education
-
J.D., 2014, University of Michigan Law SchoolOrder of the Coif, summa cum laude
-
B.A., 2011, University of Notre DamePhi Beta Kappa, summa cum laude
Clerkships
- Hon. Diarmuid F. O'Scannlain, U.S. Court of Appeals for the Ninth Circuit
Admitted In
- New York
Rankings
Lawdragon
- 500 X – The Next Generation (2025, 2024, 2023)
The Legal 500 US
- Capital Markets: Debt Offerings (2024)
- Capital Markets: Global Offerings (2024)
- Capital Markets: High-Yield Debt Offerings (2025, 2024)
Deals & Cases
October 01, 2025
Corteva’s Planned Separation into Two Public Companies
On October 1, 2025, global agricultural technology leader Corteva announced that its Board of Directors has unanimously approved a plan to separate the company into two independent, publicly traded companies, one comprising its current Crop Protection business (“New Corteva”) and the other comprising its current Seed business (“SpinCo”). 2025 net sales attributable to New Corteva are estimated to total $7.8 billion, representing 44% of net sales for Corteva; 2025 net sales attributable to SpinCo are estimated to total $9.9 billion, representing 56% of net sales for Corteva. The separation is expected to be effected through a spin‑off of SpinCo that is intended to qualify as a tax‑free transaction for U.S. federal tax purposes to Corteva shareholders. Cravath is representing Corteva in connection with the transaction.
Deals & Cases
September 25, 2025
Webster Financial Corporation’s Fixed Rate Reset Subordinated Notes Offering
Cravath represented the underwriters in connection with the $350 million fixed rate reset subordinated notes offering of Webster Financial Corporation, a bank holding company of Webster Bank, a commercial bank with a national bank charter focused on providing financial products and services to businesses, individuals and families. The transaction closed on September 11, 2025.
Deals & Cases
September 04, 2025
Verisk’s $1.5 Billion Registered Senior Notes Offering
Cravath represented the underwriters in connection with the $1.5 billion registered senior notes offering of Verisk Analytics, Inc. (“Verisk”), a leading data, analytics and technology provider serving clients in the insurance sector. Proceeds of the offering will be used to partially finance Verisk’s acquisition of Exactlogix, Inc., doing business as AccuLynx.com. The transaction closed on August 21, 2025.
Deals & Cases
June 23, 2025
Toll Brothers’ Registered Senior Notes Offering
Cravath represented Toll Brothers Finance Corp. in connection with its $500 million registered senior notes offering, fully guaranteed by Toll Brothers, Inc. and certain of its subsidiaries. Toll Brothers Finance Corp. is an indirect wholly owned subsidiary of Toll Brothers, Inc., which designs, builds, markets, sells and arranges financing for an array of luxury residential homes and communities. The transaction closed on June 10, 2025.
Deals & Cases
June 17, 2025
HSBC USA Inc.’s $1.25 Billion Registered Notes Offering
Cravath represented HSBC Securities and the other underwriters in connection with the $1.25 billion registered notes offering of HSBC USA Inc., an indirect wholly owned subsidiary of HSBC Holdings plc, a global financial services company. The transaction closed on June 3, 2025.
Publications
June 25, 2025
Nick Dorsey, Ryan Patrone, Kelly Smercina and Margaret Rallings Contribute to the 2025 Chambers Acquisition Finance Guide
Cravath partner Nicholas A. Dorsey served as the co‑editor of the 2025 edition of the Chambers Acquisition Finance Guide, which is part of the publisher’s Global Practice Guide series. Nick also co‑authored, along with Cravath partners Ryan J. Patrone, Kelly M. Smercina and Margaret R. M. Rallings, the U.S. chapter of the guide.
Activities
March 06, 2025
Nick Dorsey and Kelly Smercina Speak at NOVA and CFGI’s US – IPO Readiness Event
On March 6, 2025, Cravath partners Nicholas A. Dorsey and Kelly M. Smercina participated in NOVA and CFGI’s US – IPO Readiness event, which was hosted by BNY in London. The event convened representatives of the four organizations for a training session on IPO readiness in U.S. capital markets, covering the IPO process and timeline, team and organizational setup and legal considerations.
Publications
June 25, 2024
Nick Dorsey, Ryan Patrone, Kelly Smercina and Margaret Rallings Contribute to the 2024 Chambers Acquisition Finance Guide
Cravath partner Nicholas A. Dorsey served as the co‑editor of the 2024 edition of the Chambers Acquisition Finance Guide, which is part of the publisher’s Global Practice Guide series. Nick also co‑authored, along with Cravath partners Ryan J. Patrone and Kelly M. Smercina and European Counsel Margaret R. M. Rallings, the U.S. chapter of the guide.
Publications
June 23, 2023
Nick Dorsey, Ryan Patrone, Kelly Smercina and Margaret Rallings Contribute to the 2023 Chambers Acquisition Finance Guide
Cravath partner Nicholas A. Dorsey served as the co‑editor of the 2023 edition of the Chambers Acquisition Finance Guide, which is part of the publisher’s Global Practice Guide series. Nick also co‑authored, along with Cravath partners Ryan J. Patrone and Kelly M. Smercina and European Counsel Margaret R. M. Rallings, the U.S. chapter of the guide.
Kelly M. Smercina focuses her practice on representing corporate clients and investment banking firms in a wide range of capital markets and other financing transactions, including in connection with acquisitions and spin‑offs. She also has significant experience representing clients in mergers and acquisitions and corporate governance matters.
Ms. Smercina’s notable work highlights include:
- Representing Schneider National in its IPO and Corteva in the pending spin‑off of its Seed business
- Other equity offerings for companies such as Comtech, CyrusOne and Evolent Health
- Debt offerings for companies such as Aon, CBRE, Centene, Cincinnati Bell, Credit Acceptance, Dell, Expedia, HSBC USA, Kraft Heinz, Navistar, RingCentral, Six Flags, Toll Brothers, TransDigm, U.S. Concrete, Vantage Drilling International, Verisk and Webster Bank
- Private credit transactions for companies such as Artivion and New Media
- Capital markets and bank financings in connection with Amcor’s acquisition of Bemis, Aon’s acquisition of NFP, Expedia’s acquisition of HomeAway, Forward Air’s combination with Omni Logistics, multiple transactions involving Lindsay Goldberg and its portfolio companies, New Media’s acquisition of Gannett, Otis Worldwide’s spin‑off from United Technologies, Outbrain’s acquisition of Teads, Six Flags’ merger of equals with Cedar Fair and Verisk’s acquisition of AccuLynx
- Representing the special committee of the board of directors of EchoStar in the $26 billion combination with DISH Network
- Representing Buckeye in its $10.3 billion acquisition by IFM
- Representing SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation
- Representing AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses
- Representing Light & Wonder in the $6.05 billion sale of SG Lottery to Brookfield and in the $1.2 billion sale of OpenBet to Endeavor
- Representing Route Mobile and its founding shareholders in the ₹59.22 billion sale of a majority stake in Route Mobile to Proximus Group
Ms. Smercina is an author on legal developments in the areas of capital markets and finance, having contributed to publications such as Chambers’ Acquisition Finance Guide.
Ms. Smercina has been recognized for her work in capital markets by The Legal 500 US and has been named to the Lawdragon 500 X – The Next Generation list.
Ms. Smercina is from Brecksville, Ohio. She received a B.A. summa cum laude from the University of Notre Dame in 2011, where she was elected to Phi Beta Kappa, and a J.D. summa cum laude from the University of Michigan Law School in 2014, where she was Contributing Editor of the Law Review. Before joining Cravath, Ms. Smercina served as a law clerk to Hon. Diarmuid O’Scannlain of the U.S. Court of Appeals for the Ninth Circuit.
Ms. Smercina joined Cravath in 2015 and was elected a partner in 2022.
Ms. Smercina’s notable work highlights include:
- Representing Schneider National in its IPO and Corteva in the pending spin‑off of its Seed business
- Other equity offerings for companies such as Comtech, CyrusOne and Evolent Health
- Debt offerings for companies such as Aon, CBRE, Centene, Cincinnati Bell, Credit Acceptance, Dell, Expedia, HSBC USA, Kraft Heinz, Navistar, RingCentral, Six Flags, Toll Brothers, TransDigm, U.S. Concrete, Vantage Drilling International, Verisk and Webster Bank
- Private credit transactions for companies such as Artivion and New Media
- Capital markets and bank financings in connection with Amcor’s acquisition of Bemis, Aon’s acquisition of NFP, Expedia’s acquisition of HomeAway, Forward Air’s combination with Omni Logistics, multiple transactions involving Lindsay Goldberg and its portfolio companies, New Media’s acquisition of Gannett, Otis Worldwide’s spin‑off from United Technologies, Outbrain’s acquisition of Teads, Six Flags’ merger of equals with Cedar Fair and Verisk’s acquisition of AccuLynx
- Representing the special committee of the board of directors of EchoStar in the $26 billion combination with DISH Network
- Representing Buckeye in its $10.3 billion acquisition by IFM
- Representing SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation
- Representing AmerisourceBergen in its $6.5 billion acquisition of Walgreens’ Alliance Healthcare businesses
- Representing Light & Wonder in the $6.05 billion sale of SG Lottery to Brookfield and in the $1.2 billion sale of OpenBet to Endeavor
- Representing Route Mobile and its founding shareholders in the ₹59.22 billion sale of a majority stake in Route Mobile to Proximus Group
Ms. Smercina is an author on legal developments in the areas of capital markets and finance, having contributed to publications such as Chambers’ Acquisition Finance Guide.
Ms. Smercina has been recognized for her work in capital markets by The Legal 500 US and has been named to the Lawdragon 500 X – The Next Generation list.
Ms. Smercina is from Brecksville, Ohio. She received a B.A. summa cum laude from the University of Notre Dame in 2011, where she was elected to Phi Beta Kappa, and a J.D. summa cum laude from the University of Michigan Law School in 2014, where she was Contributing Editor of the Law Review. Before joining Cravath, Ms. Smercina served as a law clerk to Hon. Diarmuid O’Scannlain of the U.S. Court of Appeals for the Ninth Circuit.
Ms. Smercina joined Cravath in 2015 and was elected a partner in 2022.
Education
-
J.D., 2014, University of Michigan Law SchoolOrder of the Coif, summa cum laude
-
B.A., 2011, University of Notre DamePhi Beta Kappa, summa cum laude
Clerkships
- Hon. Diarmuid F. O'Scannlain, U.S. Court of Appeals for the Ninth Circuit
Admitted In
- New York
Rankings
Lawdragon
- 500 X – The Next Generation (2025, 2024, 2023)
The Legal 500 US
- Capital Markets: Debt Offerings (2024)
- Capital Markets: Global Offerings (2024)
- Capital Markets: High-Yield Debt Offerings (2025, 2024)
Deals & Cases
October 01, 2025
Corteva’s Planned Separation into Two Public Companies
On October 1, 2025, global agricultural technology leader Corteva announced that its Board of Directors has unanimously approved a plan to separate the company into two independent, publicly traded companies, one comprising its current Crop Protection business (“New Corteva”) and the other comprising its current Seed business (“SpinCo”). 2025 net sales attributable to New Corteva are estimated to total $7.8 billion, representing 44% of net sales for Corteva; 2025 net sales attributable to SpinCo are estimated to total $9.9 billion, representing 56% of net sales for Corteva. The separation is expected to be effected through a spin‑off of SpinCo that is intended to qualify as a tax‑free transaction for U.S. federal tax purposes to Corteva shareholders. Cravath is representing Corteva in connection with the transaction.
Deals & Cases
September 25, 2025
Webster Financial Corporation’s Fixed Rate Reset Subordinated Notes Offering
Cravath represented the underwriters in connection with the $350 million fixed rate reset subordinated notes offering of Webster Financial Corporation, a bank holding company of Webster Bank, a commercial bank with a national bank charter focused on providing financial products and services to businesses, individuals and families. The transaction closed on September 11, 2025.
Deals & Cases
September 04, 2025
Verisk’s $1.5 Billion Registered Senior Notes Offering
Cravath represented the underwriters in connection with the $1.5 billion registered senior notes offering of Verisk Analytics, Inc. (“Verisk”), a leading data, analytics and technology provider serving clients in the insurance sector. Proceeds of the offering will be used to partially finance Verisk’s acquisition of Exactlogix, Inc., doing business as AccuLynx.com. The transaction closed on August 21, 2025.
Deals & Cases
June 23, 2025
Toll Brothers’ Registered Senior Notes Offering
Cravath represented Toll Brothers Finance Corp. in connection with its $500 million registered senior notes offering, fully guaranteed by Toll Brothers, Inc. and certain of its subsidiaries. Toll Brothers Finance Corp. is an indirect wholly owned subsidiary of Toll Brothers, Inc., which designs, builds, markets, sells and arranges financing for an array of luxury residential homes and communities. The transaction closed on June 10, 2025.
Deals & Cases
June 17, 2025
HSBC USA Inc.’s $1.25 Billion Registered Notes Offering
Cravath represented HSBC Securities and the other underwriters in connection with the $1.25 billion registered notes offering of HSBC USA Inc., an indirect wholly owned subsidiary of HSBC Holdings plc, a global financial services company. The transaction closed on June 3, 2025.
Publications
June 25, 2025
Nick Dorsey, Ryan Patrone, Kelly Smercina and Margaret Rallings Contribute to the 2025 Chambers Acquisition Finance Guide
Cravath partner Nicholas A. Dorsey served as the co‑editor of the 2025 edition of the Chambers Acquisition Finance Guide, which is part of the publisher’s Global Practice Guide series. Nick also co‑authored, along with Cravath partners Ryan J. Patrone, Kelly M. Smercina and Margaret R. M. Rallings, the U.S. chapter of the guide.
Activities
March 06, 2025
Nick Dorsey and Kelly Smercina Speak at NOVA and CFGI’s US – IPO Readiness Event
On March 6, 2025, Cravath partners Nicholas A. Dorsey and Kelly M. Smercina participated in NOVA and CFGI’s US – IPO Readiness event, which was hosted by BNY in London. The event convened representatives of the four organizations for a training session on IPO readiness in U.S. capital markets, covering the IPO process and timeline, team and organizational setup and legal considerations.
Publications
June 25, 2024
Nick Dorsey, Ryan Patrone, Kelly Smercina and Margaret Rallings Contribute to the 2024 Chambers Acquisition Finance Guide
Cravath partner Nicholas A. Dorsey served as the co‑editor of the 2024 edition of the Chambers Acquisition Finance Guide, which is part of the publisher’s Global Practice Guide series. Nick also co‑authored, along with Cravath partners Ryan J. Patrone and Kelly M. Smercina and European Counsel Margaret R. M. Rallings, the U.S. chapter of the guide.
Publications
June 23, 2023
Nick Dorsey, Ryan Patrone, Kelly Smercina and Margaret Rallings Contribute to the 2023 Chambers Acquisition Finance Guide
Cravath partner Nicholas A. Dorsey served as the co‑editor of the 2023 edition of the Chambers Acquisition Finance Guide, which is part of the publisher’s Global Practice Guide series. Nick also co‑authored, along with Cravath partners Ryan J. Patrone and Kelly M. Smercina and European Counsel Margaret R. M. Rallings, the U.S. chapter of the guide.
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