Cravath Publishes Summer 2026 Issue of Alumni Journal
Capital Markets
Cravath has one of the most respected capital markets practices in the world. We hold a distinctive reputation for devising and executing the innovative, sophisticated deal structures underlying landmark financing transactions, including the first simultaneous cross‑border tender offer, direct listings, high‑profile IPOs and acquisition financings for many of the largest U.S. and cross‑border transactions.
Our practice is balanced between representing issuers and underwriters on debt, equity and hybrid offerings, both domestically and internationally. Cravath’s substantial presence in London, where we have one of the largest contingents of U.S. lawyers in the city, enhances our ability to provide seamless, round‑the‑clock coverage.
We execute complex, cross-border deals issued in multiple currencies, as well as IPOs and other high‑profile transactions for companies ranging from emerging startups to leading multinational corporations in the United States and abroad. Our lawyers have led offerings in a broad range of industries and we also regularly advise on SEC‑registered and Rule 144A offerings by sovereign and supranational entities.
Our U.S. and foreign private issuer clients rely on Cravath’s expertise to resolve their most challenging issues before the SEC, including on difficult accounting or other disclosure matters, as well as potential reporting and compliance issues. Cravath lawyers maintain strong relationships with members of the SEC staff and our representation includes alerting our clients to newly enacted U.S. securities laws and SEC and exchange rules and regulations, as well as advising them with respect to compliance with these requirements. We also counsel clients on how U.S. securities laws and regulations interact with evolving areas such as crypto and data privacy.
Our lawyers’ ability to execute all offering types, our client-targeted expertise and our commercial understanding of business situations are highly recommended by clients and peers:
- “Clear leaders in the market, [Cravath] presents the complete package for clients: ‘They know how to move a deal along, and they know the SEC.’” Chambers
- “They are a perennial leader in capital markets transactions in Europe.” Chambers
- “Cravath runs a top-notch U.S. securities practice from its London office and is involved in some of the largest transactions in the U.S. and global equity capital markets.” The Legal 500
- “Cravath has served as one of our primary outside counsels for over 20 years. They’ve helped us in a variety of different matters and transactions including an IPO, secondary equity offerings, and, more recently, a 144A debt offering. I would say that the firm in general, but specifically the capital markets team, provides the highest quality legal services that I think we get from any outside counsel. I’ve found their work to be uniformly excellent. They get some of the brightest people, they have a pretty broad range of expertise, and the quality of the lawyers is uniformly high. They’re very responsive and I think they really meet the client’s needs in pretty much all facets.” IFLR1000
- “They collaborate seamlessly to ensure they deliver their firm’s absolute best on every client matter.” Chambers
- “Absolutely outstanding. Deep technical expertise combined with wide sector knowledge and unbelievable commitment.” IFLR1000
- “Excellent lawyers technically and creative problem-solvers” who are “regularly sought for advice on complex or esoteric capital markets issues.” Chambers
- Cravath is “the best at anticipating and answering our changing legal needs.” Chambers
- “There’s Cravath and then there’s everyone else.” The Legal 500
Our practice is balanced between representing issuers and underwriters on debt, equity and hybrid offerings, both domestically and internationally. Cravath’s substantial presence in London, where we have one of the largest contingents of U.S. lawyers in the city, enhances our ability to provide seamless, round‑the‑clock coverage.
We execute complex, cross-border deals issued in multiple currencies, as well as IPOs and other high‑profile transactions for companies ranging from emerging startups to leading multinational corporations in the United States and abroad. Our lawyers have led offerings in a broad range of industries and we also regularly advise on SEC‑registered and Rule 144A offerings by sovereign and supranational entities.
Our U.S. and foreign private issuer clients rely on Cravath’s expertise to resolve their most challenging issues before the SEC, including on difficult accounting or other disclosure matters, as well as potential reporting and compliance issues. Cravath lawyers maintain strong relationships with members of the SEC staff and our representation includes alerting our clients to newly enacted U.S. securities laws and SEC and exchange rules and regulations, as well as advising them with respect to compliance with these requirements. We also counsel clients on how U.S. securities laws and regulations interact with evolving areas such as crypto and data privacy.
Our lawyers’ ability to execute all offering types, our client-targeted expertise and our commercial understanding of business situations are highly recommended by clients and peers:
- “Clear leaders in the market, [Cravath] presents the complete package for clients: ‘They know how to move a deal along, and they know the SEC.’” Chambers
- “They are a perennial leader in capital markets transactions in Europe.” Chambers
- “Cravath runs a top-notch U.S. securities practice from its London office and is involved in some of the largest transactions in the U.S. and global equity capital markets.” The Legal 500
- “Cravath has served as one of our primary outside counsels for over 20 years. They’ve helped us in a variety of different matters and transactions including an IPO, secondary equity offerings, and, more recently, a 144A debt offering. I would say that the firm in general, but specifically the capital markets team, provides the highest quality legal services that I think we get from any outside counsel. I’ve found their work to be uniformly excellent. They get some of the brightest people, they have a pretty broad range of expertise, and the quality of the lawyers is uniformly high. They’re very responsive and I think they really meet the client’s needs in pretty much all facets.” IFLR1000
- “They collaborate seamlessly to ensure they deliver their firm’s absolute best on every client matter.” Chambers
- “Absolutely outstanding. Deep technical expertise combined with wide sector knowledge and unbelievable commitment.” IFLR1000
- “Excellent lawyers technically and creative problem-solvers” who are “regularly sought for advice on complex or esoteric capital markets issues.” Chambers
- Cravath is “the best at anticipating and answering our changing legal needs.” Chambers
- “There’s Cravath and then there’s everyone else.” The Legal 500
Deals & Cases
October 21, 2026
AerCap Funding Designated Activity Company’s $1.5 Billion Registered Senior Notes Offering
Cravath represented AerCap Funding Designated Activity Company in connection with its $1.5 billion registered senior notes offering. AerCap Funding Designated Activity Company is a wholly owned subsidiary of AerCap Holdings N.V., the global leader in aircraft leasing. The notes were listed on the Irish Stock Exchange. The transaction closed on October 7, 2026.
Deals & Cases
October 21, 2026
TORM plc’s Registered Offering of Common Shares
Cravath represented the underwriter in connection with the registered offering by an affiliate of Oaktree Capital Management, L.P. of $254 million of common shares of TORM plc., one of the world’s largest maritime transporters of refined oil products. The shares were listed on the Nasdaq. The transaction closed on October 7, 2026.
Deals & Cases
October 13, 2026
Hoffman Schroff Holdings, Inc.’s Registered Senior Notes Offering
Cravath represented the underwriters in connection with the $800 million registered senior notes offering of Hoffman Schroff Holdings, Inc., an indirect wholly owned subsidiary of nVent Electric plc (“nVent”), a leading global provider of electrical connection and protection solutions. Net proceeds of the offering were used to finance nVent’s acquisition of Maverick Power, LLC. The transaction closed on September 29, 2026.
Deals & Cases
October 12, 2026
Kyndryl Holdings, Inc.’s $1 Billion Senior Notes Offering
Cravath represented the underwriters in connection with the registered $1 billion senior notes offering of Kyndryl Holdings, Inc., a leading technology services company and the largest IT infrastructure services provider in the world. The transaction closed on September 28, 2026.
Deals & Cases
October 07, 2026
Alumina Pty Ltd and Alcoa Nederland Holding B.V.’s $2.6 Billion High‑Yield Senior Notes Offering
Cravath represented the initial purchasers in connection with the $2.6 billion 144A/Reg S. high‑yield senior notes offering of Alumina Pty Ltd and Alcoa Nederland Holding B.V., wholly owned subsidiaries of Alcoa Corporation, a global industry leader in the production of bauxite, alumina and aluminum products. Proceeds of the offering will be used to finance Alcoa Corporation's acquisition of the interests of South32 Limited in bauxite mine, alumina refinery and certain aluminum smelter operations. The transaction closed on September 23, 2026.
Activities
October 19, 2026
Lawdragon Names 50 Cravath Partners to its 2027 List of “500 Leading Dealmakers in America”
On October 16, 2026, Lawdragon announced the inclusion of 50 Cravath partners in its annual list of the “500 Leading Dealmakers in America.” The list, assembled based on research and vetting by peers, recognizes the lawyers in the areas of M&A, private equity, capital markets, finance, corporate governance, shareholder activism, tax, antitrust, regulatory, restructuring and energy who “close the transactions that remake industries, redraw markets and move trillions of dollars of value.”
Activities
October 06, 2026
Alyssa Caples and Nick Dorsey Speak at IBA’s 2026 Annual Conference
Cravath partners Alyssa K. Caples and Nicholas A. Dorsey participated in the International Bar Association’s 2026 Annual Conference, which was held from October 4‑9, 2026, in Copenhagen, Denmark. Alyssa co‑chaired a panel entitled “The Little Mermaid: Challenges in Cross‑Border Offerings,” which discussed the nature of the requirements and challenges that characterize cross‑border securities offerings and how best to deal with them. Nick spoke on a panel entitled “Directors in the Age of AI: Oversight and Risk in Closely Held Companies,” which examined how AI adoption is transforming operations, risk profiles and value creation in closely held companies and what boards must do in response.
Activities
September 11, 2026
Alyssa Caples Speaks at the IBA’s Conference on Key Developments in Latin American Transactions and Their Financing; a Look at the Present and the Future
On September 10, 2026, Cravath partner Alyssa K. Caples participated in the International Bar Association’s “Key Developments in Latin American Transactions and Their Financing; a Look at the Present and the Future” conference, in Rio de Janeiro, Brazil. Alyssa spoke on a panel entitled “Tender Offers and Acquisition Finance,” which discussed the challenges and available guidelines for identifying a transfer of control event and the triggers for mandatory tender offers, whether based on subjective or objective criteria. Panelists covered existing debt pushdown structures and the legal and regulatory limits including disclosure for acquisition finance.
Publications
September 10, 2026
Cravath Publishes Finance & Capital Markets Quarterly Review for Q2 2026
On September 9, 2026, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides insight into practical points, key takeaways and relevant developments related to the bond, equity and loan markets and restructuring activity during the second quarter of 2026. Highlights from this edition include:
Publications
August 26, 2026
Cravath Venture Capital & Growth Equity Insights: H1 2026 and FY 2026 Outlook
On August 25, 2026, Cravath published the latest edition of its Venture Capital & Growth Equity Insights newsletter, which provides insight into U.S. and global venture capital and related activity during the first half of 2026 and an outlook for the rest of the year. Key takeaways from this edition include:
Deals & Cases
October 21, 2026
AerCap Funding Designated Activity Company’s $1.5 Billion Registered Senior Notes Offering
Cravath represented AerCap Funding Designated Activity Company in connection with its $1.5 billion registered senior notes offering. AerCap Funding Designated Activity Company is a wholly owned subsidiary of AerCap Holdings N.V., the global leader in aircraft leasing. The notes were listed on the Irish Stock Exchange. The transaction closed on October 7, 2026.
Deals & Cases
October 21, 2026
TORM plc’s Registered Offering of Common Shares
Cravath represented the underwriter in connection with the registered offering by an affiliate of Oaktree Capital Management, L.P. of $254 million of common shares of TORM plc., one of the world’s largest maritime transporters of refined oil products. The shares were listed on the Nasdaq. The transaction closed on October 7, 2026.
Deals & Cases
October 13, 2026
Hoffman Schroff Holdings, Inc.’s Registered Senior Notes Offering
Cravath represented the underwriters in connection with the $800 million registered senior notes offering of Hoffman Schroff Holdings, Inc., an indirect wholly owned subsidiary of nVent Electric plc (“nVent”), a leading global provider of electrical connection and protection solutions. Net proceeds of the offering were used to finance nVent’s acquisition of Maverick Power, LLC. The transaction closed on September 29, 2026.
Deals & Cases
October 12, 2026
Kyndryl Holdings, Inc.’s $1 Billion Senior Notes Offering
Cravath represented the underwriters in connection with the registered $1 billion senior notes offering of Kyndryl Holdings, Inc., a leading technology services company and the largest IT infrastructure services provider in the world. The transaction closed on September 28, 2026.
Deals & Cases
October 07, 2026
Alumina Pty Ltd and Alcoa Nederland Holding B.V.’s $2.6 Billion High‑Yield Senior Notes Offering
Cravath represented the initial purchasers in connection with the $2.6 billion 144A/Reg S. high‑yield senior notes offering of Alumina Pty Ltd and Alcoa Nederland Holding B.V., wholly owned subsidiaries of Alcoa Corporation, a global industry leader in the production of bauxite, alumina and aluminum products. Proceeds of the offering will be used to finance Alcoa Corporation's acquisition of the interests of South32 Limited in bauxite mine, alumina refinery and certain aluminum smelter operations. The transaction closed on September 23, 2026.
Activities
October 19, 2026
Lawdragon Names 50 Cravath Partners to its 2027 List of “500 Leading Dealmakers in America”
On October 16, 2026, Lawdragon announced the inclusion of 50 Cravath partners in its annual list of the “500 Leading Dealmakers in America.” The list, assembled based on research and vetting by peers, recognizes the lawyers in the areas of M&A, private equity, capital markets, finance, corporate governance, shareholder activism, tax, antitrust, regulatory, restructuring and energy who “close the transactions that remake industries, redraw markets and move trillions of dollars of value.”
Activities
October 06, 2026
Alyssa Caples and Nick Dorsey Speak at IBA’s 2026 Annual Conference
Cravath partners Alyssa K. Caples and Nicholas A. Dorsey participated in the International Bar Association’s 2026 Annual Conference, which was held from October 4‑9, 2026, in Copenhagen, Denmark. Alyssa co‑chaired a panel entitled “The Little Mermaid: Challenges in Cross‑Border Offerings,” which discussed the nature of the requirements and challenges that characterize cross‑border securities offerings and how best to deal with them. Nick spoke on a panel entitled “Directors in the Age of AI: Oversight and Risk in Closely Held Companies,” which examined how AI adoption is transforming operations, risk profiles and value creation in closely held companies and what boards must do in response.
Activities
September 11, 2026
Alyssa Caples Speaks at the IBA’s Conference on Key Developments in Latin American Transactions and Their Financing; a Look at the Present and the Future
On September 10, 2026, Cravath partner Alyssa K. Caples participated in the International Bar Association’s “Key Developments in Latin American Transactions and Their Financing; a Look at the Present and the Future” conference, in Rio de Janeiro, Brazil. Alyssa spoke on a panel entitled “Tender Offers and Acquisition Finance,” which discussed the challenges and available guidelines for identifying a transfer of control event and the triggers for mandatory tender offers, whether based on subjective or objective criteria. Panelists covered existing debt pushdown structures and the legal and regulatory limits including disclosure for acquisition finance.
Publications
September 10, 2026
Cravath Publishes Finance & Capital Markets Quarterly Review for Q2 2026
On September 9, 2026, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides insight into practical points, key takeaways and relevant developments related to the bond, equity and loan markets and restructuring activity during the second quarter of 2026. Highlights from this edition include:
Publications
August 26, 2026
Cravath Venture Capital & Growth Equity Insights: H1 2026 and FY 2026 Outlook
On August 25, 2026, Cravath published the latest edition of its Venture Capital & Growth Equity Insights newsletter, which provides insight into U.S. and global venture capital and related activity during the first half of 2026 and an outlook for the rest of the year. Key takeaways from this edition include:
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Cravath Bicentennial
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.
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