Four Decades for Justice
Matthew M. Kelly represents financial institutions and corporate borrowers in connection with a wide range of syndicated loan, direct lending and other financing transactions, including acquisition finance and investment‑grade and leveraged finance.
Mr. Kelly’s notable banking and finance deals include advising:
the agent and arranger in an aggregate of $8 billion of term loan facilities made available to TransDigm;
the agent and arranger in a $2.75 billion revolving credit facility made available to Goodyear to finance its acquisition of Cooper Tire & Rubber;
the agent and arranger in an aggregate of $5.54 billion of term loan facilities made available to Axalta;
the agent and arranger in $890 million of credit facilities made available to Frontdoor;
the agent and arranger in $750 million of credit facilities made available to MSG National Properties;
Mr. Kelly is from New York, New York. He received an A.B. cum laude from Dartmouth College in 2006 and a J.D. magna cum laude from New York University School of Law in 2013, where he was a John Norton Pomeroy Scholar, a Benjamin Butler Scholar, a Notes Editor of the Law Review, Managing Editor of The Commentator, a recipient of the Law Review Alumni Association Award and elected to the Order of the Coif.
Mr. Kelly joined Cravath in 2013 and was elected a partner in 2020.
Mr. Kelly’s notable banking and finance deals include advising:
the agent and arranger in an aggregate of $8 billion of term loan facilities made available to TransDigm;
the agent and arranger in a $2.75 billion revolving credit facility made available to Goodyear to finance its acquisition of Cooper Tire & Rubber;
the agent and arranger in an aggregate of $5.54 billion of term loan facilities made available to Axalta;
the agent and arranger in $890 million of credit facilities made available to Frontdoor;
the agent and arranger in $750 million of credit facilities made available to MSG National Properties;
Mr. Kelly is from New York, New York. He received an A.B. cum laude from Dartmouth College in 2006 and a J.D. magna cum laude from New York University School of Law in 2013, where he was a John Norton Pomeroy Scholar, a Benjamin Butler Scholar, a Notes Editor of the Law Review, Managing Editor of The Commentator, a recipient of the Law Review Alumni Association Award and elected to the Order of the Coif.
Mr. Kelly joined Cravath in 2013 and was elected a partner in 2020.
The Legal 500 US
Deals & Cases
February 01, 2024
On February 1, 2024, DRI Healthcare Trust (“the Trust”), a global leader in providing financing to advance innovation in the life sciences industry, announced it has expanded its interest in royalties on the U.S. net sales of Omidria® by amending its existing agreement with Omeros Corporation ("Omeros") for $115 million on closing and up to $55 million in potential sales‑based milestone payments. As a result, the Trust will now receive 100% of Omeros’s royalties on the U.S. net sales of Omidria® through December 31, 2031. Cravath is representing DRI Healthcare Trust in connection with the transaction.
Deals & Cases
October 16, 2023
On October 16, 2023, Consolidated Communications Holdings, Inc. (“Consolidated Communications”), a top 10 fiber provider in the United States, announced it has entered into a definitive agreement to be acquired by affiliates of Searchlight Capital Partners, L.P. (“Searchlight”) and British Columbia Investment Management Corporation (“BCI”) in an all‑cash transaction with an enterprise value of approximately $3.1 billion, including the assumption of debt. Under the terms of the agreement, Searchlight and BCI will acquire all of the Consolidated common stock not already owned by Searchlight for $4.70 per share in cash. The proposed transaction has been unanimously approved by a special committee of independent and disinterested directors of Consolidated Communications’ Board of Directors (the “Special Committee”), advised by independent legal and financial advisors, formed to evaluate and consider the proposal and other potential strategic alternatives. The Board of Directors of Consolidated Communications, following recusals of directors affiliated with Searchlight and BCI, has approved the proposed transaction on the unanimous recommendation of the Special Committee. Cravath is representing the Special Committee in connection with the transaction.
Deals & Cases
September 19, 2023
On September 19, 2023, affiliates of private investment firm Lindsay Goldberg, in partnership with the company’s management, announced the completion of an investment in The Kleinfelder Group, a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Cravath is representing Lindsay Goldberg in connection with the transaction.
Deals & Cases
July 05, 2023
On July 5, 2023, Brookfield Reinsurance, which operates a leading capital solutions business providing insurance and reinsurance services to individuals and institutions, and American Equity Investment Life Holding Company (“AEL”) announced that they have entered into a definitive agreement whereby Brookfield Reinsurance will acquire all of the outstanding shares of common stock of AEL it does not already own in a cash and stock transaction that values AEL at approximately $4.3 billion. Cravath is representing Brookfield Reinsurance in connection with the transaction.
Deals & Cases
June 30, 2023
On June 30, 2023, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, managed by DRI Capital Inc., announced that it has purchased a royalty interest in the worldwide net sales of Orserdu™, the first approved targeted therapy used in the treatment of postmenopausal women or adult men with advanced or metastatic breast cancer who have experienced disease progression despite prior endocrine therapy, from Eisai Co., Ltd. for $85 million. In addition to the running royalties, DRI Healthcare Trust is also entitled to receive milestones based on the achievement of regulatory and sales performance thresholds. Cravath represented DRI Capital Inc. in connection with the transaction.
Activities & Publications
February 07, 2024
On February 2, 2024, Cravath published a memo for its clients entitled “Potential FSOC Scrutiny of ‘Big Tech’ Firms.”
Activities & Publications
March 01, 2023
Cravath partners Matthew M. Kelly and Douglas Dolan authored the United States chapter for Thomson Reuters Practical Law’s Acquisition Finance Global Guide, which was published in February 2023. The chapter provides a market overview and examines methods of acquisition, finance structure and procedures and other key issues relating to acquisition financing.
Matthew M. Kelly represents financial institutions and corporate borrowers in connection with a wide range of syndicated loan, direct lending and other financing transactions, including acquisition finance and investment‑grade and leveraged finance.
Mr. Kelly’s notable banking and finance deals include advising:
the agent and arranger in an aggregate of $8 billion of term loan facilities made available to TransDigm;
the agent and arranger in a $2.75 billion revolving credit facility made available to Goodyear to finance its acquisition of Cooper Tire & Rubber;
the agent and arranger in an aggregate of $5.54 billion of term loan facilities made available to Axalta;
the agent and arranger in $890 million of credit facilities made available to Frontdoor;
the agent and arranger in $750 million of credit facilities made available to MSG National Properties;
Mr. Kelly is from New York, New York. He received an A.B. cum laude from Dartmouth College in 2006 and a J.D. magna cum laude from New York University School of Law in 2013, where he was a John Norton Pomeroy Scholar, a Benjamin Butler Scholar, a Notes Editor of the Law Review, Managing Editor of The Commentator, a recipient of the Law Review Alumni Association Award and elected to the Order of the Coif.
Mr. Kelly joined Cravath in 2013 and was elected a partner in 2020.
Mr. Kelly’s notable banking and finance deals include advising:
the agent and arranger in an aggregate of $8 billion of term loan facilities made available to TransDigm;
the agent and arranger in a $2.75 billion revolving credit facility made available to Goodyear to finance its acquisition of Cooper Tire & Rubber;
the agent and arranger in an aggregate of $5.54 billion of term loan facilities made available to Axalta;
the agent and arranger in $890 million of credit facilities made available to Frontdoor;
the agent and arranger in $750 million of credit facilities made available to MSG National Properties;
Mr. Kelly is from New York, New York. He received an A.B. cum laude from Dartmouth College in 2006 and a J.D. magna cum laude from New York University School of Law in 2013, where he was a John Norton Pomeroy Scholar, a Benjamin Butler Scholar, a Notes Editor of the Law Review, Managing Editor of The Commentator, a recipient of the Law Review Alumni Association Award and elected to the Order of the Coif.
Mr. Kelly joined Cravath in 2013 and was elected a partner in 2020.
The Legal 500 US
Deals & Cases
February 01, 2024
On February 1, 2024, DRI Healthcare Trust (“the Trust”), a global leader in providing financing to advance innovation in the life sciences industry, announced it has expanded its interest in royalties on the U.S. net sales of Omidria® by amending its existing agreement with Omeros Corporation ("Omeros") for $115 million on closing and up to $55 million in potential sales‑based milestone payments. As a result, the Trust will now receive 100% of Omeros’s royalties on the U.S. net sales of Omidria® through December 31, 2031. Cravath is representing DRI Healthcare Trust in connection with the transaction.
Deals & Cases
October 16, 2023
On October 16, 2023, Consolidated Communications Holdings, Inc. (“Consolidated Communications”), a top 10 fiber provider in the United States, announced it has entered into a definitive agreement to be acquired by affiliates of Searchlight Capital Partners, L.P. (“Searchlight”) and British Columbia Investment Management Corporation (“BCI”) in an all‑cash transaction with an enterprise value of approximately $3.1 billion, including the assumption of debt. Under the terms of the agreement, Searchlight and BCI will acquire all of the Consolidated common stock not already owned by Searchlight for $4.70 per share in cash. The proposed transaction has been unanimously approved by a special committee of independent and disinterested directors of Consolidated Communications’ Board of Directors (the “Special Committee”), advised by independent legal and financial advisors, formed to evaluate and consider the proposal and other potential strategic alternatives. The Board of Directors of Consolidated Communications, following recusals of directors affiliated with Searchlight and BCI, has approved the proposed transaction on the unanimous recommendation of the Special Committee. Cravath is representing the Special Committee in connection with the transaction.
Deals & Cases
September 19, 2023
On September 19, 2023, affiliates of private investment firm Lindsay Goldberg, in partnership with the company’s management, announced the completion of an investment in The Kleinfelder Group, a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Cravath is representing Lindsay Goldberg in connection with the transaction.
Deals & Cases
July 05, 2023
On July 5, 2023, Brookfield Reinsurance, which operates a leading capital solutions business providing insurance and reinsurance services to individuals and institutions, and American Equity Investment Life Holding Company (“AEL”) announced that they have entered into a definitive agreement whereby Brookfield Reinsurance will acquire all of the outstanding shares of common stock of AEL it does not already own in a cash and stock transaction that values AEL at approximately $4.3 billion. Cravath is representing Brookfield Reinsurance in connection with the transaction.
Deals & Cases
June 30, 2023
On June 30, 2023, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, managed by DRI Capital Inc., announced that it has purchased a royalty interest in the worldwide net sales of Orserdu™, the first approved targeted therapy used in the treatment of postmenopausal women or adult men with advanced or metastatic breast cancer who have experienced disease progression despite prior endocrine therapy, from Eisai Co., Ltd. for $85 million. In addition to the running royalties, DRI Healthcare Trust is also entitled to receive milestones based on the achievement of regulatory and sales performance thresholds. Cravath represented DRI Capital Inc. in connection with the transaction.
Activities & Publications
February 07, 2024
On February 2, 2024, Cravath published a memo for its clients entitled “Potential FSOC Scrutiny of ‘Big Tech’ Firms.”
Activities & Publications
March 01, 2023
Cravath partners Matthew M. Kelly and Douglas Dolan authored the United States chapter for Thomson Reuters Practical Law’s Acquisition Finance Global Guide, which was published in February 2023. The chapter provides a market overview and examines methods of acquisition, finance structure and procedures and other key issues relating to acquisition financing.
Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.
Attorney Advertising. ©2024 Cravath, Swaine & Moore LLP.