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On May 7, 2025, Costamare Inc. (“Costamare”) announced that it has completed the spin‑off of its dry bulk business into a standalone public company, Costamare Bulkers Holdings Limited (“Costamare Bulkers”). Each holder of Costamare common shares received one common share of Costamare Bulkers for every five Costamare common shares held as of the close of business on April 29, 2025. Cravath represented Costamare in connection with the transaction.

Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with $2.725 billion of credit facilities made available to Westinghouse Air Brake Technologies Corporation and certain of its subsidiaries. Westinghouse Air Brake Technologies Corporation is a leading global provider of equipment, systems, digital solutions, and value-added services for the freight and transit rail sectors. The facilities consisted of a $2 billion revolving credit facility and a $725 million delayed draw term loan facility. The transaction closed on April 23, 2025.

Cravath represented the borrower, FactSet Research Systems Inc., in connection with the arrangement of $1.5 billion of credit facilities used to refinance existing indebtedness and for working capital and other general corporate purposes. The facilities consisted of a $1 billion revolving credit facility and a $500 million term loan facility. The transactions closed on April 8, 2025.