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Cravath, Swaine & Moore LLP

WORLDWIDE PLAZA, 825 EIGHTH AVENUE, 10019-7475, USA
Tel:
Work +1 212 474 1000
Fax:
Fax +1 212 474 3700
Email:
Web:
www.cravath.com
London, NEW YORK

Stephen Burns

Tel:
Work +1 (212) 474-1146
Email:
Cravath, Swaine & Moore LLP

Work Department

Corporate.

Position

Stephen L. Burns is a partner in Cravath’s Corporate Department. His practice focuses on representing issuers and investment banking firms in connection with public and private offerings of securities, as well as representing various corporations on general corporate matters, including corporate governance and M&A matters. Mr. Burns was named Best Lawyers’ 2014 New York City “Lawyer of the Year” for Securities/Capital Markets Law. His work was also featured by the Financial Times in its annual FT North America Innovative Lawyers 2014 report.

Mr. Burns’s clients have included Crown Castle, Flowserve, IBM, Time Warner, Time Inc., Cox Enterprises, Credit Suisse, Goldman Sachs and JPMorgan. He recently advised Crown Castle in its $7.1 billion acquisition of Lightower; its $600 million acquisition of Wilcon; its $1.5 billion acquisition of FiberNet; the $1.6 billion sale of CCAL, its Australian subsidiary, to a consortium of investors led by Macquarie Infrastructure and Real Assets; its $1 billion acquisition of Sunesys; its $9.1 billion (including purchase options) acquisition of the rights to approximately 9,700 AT&T towers; its $4.8 billion (including purchase options) acquisition of the rights to approximately 7,100 T‑Mobile towers; and on over $20 billion in debt and equity financings since 2012. Mr. Burns also advised the underwriters in connection with Actavis plc’s offerings of $30 billion of debt and equity securities in 2015. In addition, he represented the underwriters in connection with recent offerings by American Axle, Beacon Roofing, Cardtronics plc, Chesapeake Energy, Denbury Resources, Expedia, Goodyear, Petco and TeamHealth.

Career

Mr. Burns joined Cravath in 1990 and became a partner in 1998.

Mr. Burns has been repeatedly cited as one of the country’s leading practitioners in capital markets law by, among others, Chambers USA: America’s Leading Lawyers for Business from 2007 through 2018; Chambers Global: The World’s Leading Lawyers for Business from 2008 through 2018; The Legal 500 from 2007 through 2014 and in 2016 and 2017; IFLR1000 from 2007 through 2018; and The Best Lawyers in America from 2007 through 2018. He was also recognized by The Legal 500 for his skill in M&A: Mega‑Deals in 2008 and for his transactional work in the telecoms and broadcast industry in 2014, 2016 and 2017.

Education

Mr. Burns received a B.B.A. with distinction from the University of Oklahoma in 1987 and a J.D. with honors from the University of Texas School of Law in 1990, where he was named to the Chancellor’s honor society and was an Associate Editor of the Texas Law Review.


United States: Finance

Capital markets: debt offerings

Within: Capital markets: debt offerings

The ‘Rolls-Royce practice’ at Cravath, Swaine & Moore LLP is widely regarded as ‘a stand-out performer in the securities space’. The New York-centered team, which wins an enviable share of the market’s most high-profile transactions, is equally adept on the issuer and underwriter side and counts major multinationals and bulge bracket banks among its most active clients. North America department lead Andrew Pitts is ‘extremely strong’ and led several big-ticket transactions over the past year, including acting for the underwriters (led by Morgan Stanley, Barclays, BNP Paribas, HSBC, Bank of America Merrill Lynch, Citigroup and Mizuho Securities) on a €2.7bn offering of fixed- and floating-rate notes by Allergan Funding. In another headline underwriter-side mandate, corporate heavyweight Craig Arcella advised the underwriters on two notes offerings by Johnson & Johnson totaling $9bn. Among its issuer highlights, Stephen Burns and William Whelan assisted International Business Machines with its $2.7bn notes offering, while Johnny Skumpija, whose ‘star continues to rise’, advised Northrop Grumman on its $8.2bn notes offering. William Fogg is also a key contact.

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Capital markets: equity offerings

Within: Capital markets: equity offerings

The ‘efficient and effective’ group at Cravath, Swaine & Moore LLP attracts rave reviews for its lawyers’ ‘strong commercial acumen’ and ‘peerless market knowledge’. In particular, finance co-chair William Fogg has a ‘razor-sharp mind’ and advised the underwriters on JPMorgan Chase’s $1.2bn offering of depositary shares. North America capital markets head Andrew Pitts is widely lauded as a ‘market leader’ and he and ‘rising star’ Scott Bennett assisted the underwriters and selling stockholders with Alcoa’s $465m common stock offering. The New York-based group also continues to raise its game on the issuer side and, in what was arguably the group’s key highlight of 2017, Stephen Burns and ‘strong performerJohnny Skumpija advised Crown Castle International on its $1.5bn convertible preferred stock offering and concurrent $3.8bn common stock offering. Senior corporate figure William Whelan is also highly regarded for equity transactions.

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Capital markets: high-yield debt offerings

Within: Capital markets: high-yield debt offerings

Key attributes of Cravath, Swaine & Moore LLP’s New York-based group include its ‘strong business mindset’, ‘strategic approach’ and ‘great responsive times’. The well-balanced practice, which is equally adept at advising issuers and underwriters, is routinely engaged by major multinationals and global investment banks for sophisticated transactions. Its underwriter-side work is particularly high-profile, with North America capital markets head Andrew Pitts recently advising the underwriters on MPLX LP’s $2.2bn high-yield notes offering and Stephen Burns and ‘the very talentedJohnny Skumpija acting for the initial purchasers in a $1bn high-yield notes offering by Chesapeake Energy. Among its issuer highlights, William Fogg assisted CyrusOne and CyrusOne Finance with two notes offerings totaling $1.2bn and Joseph Zavaglia advised Olin Corporation on its $500m notes offering. Craig Arcella and William Whelan are also specialists in the space.

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