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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

Michael Mariani

Tel:
Work +1 (212) 474-1007
Email:
Web:
www.cravath.com/mmariani/
Cravath, Swaine & Moore LLP

Work Department

Corporate

Position

Michael E. Mariani is a partner in Cravath’s Corporate Department. His practice focuses on representing companies and major investment banks in a variety of public and private financing transactions, including initial public offerings, investment grade, high yield and convertible debt offerings, and acquisition financing transactions. Mr. Mariani also advises clients on public disclosure and corporate governance matters, as well as mergers and acquisitions.


United States: Finance

Capital markets: debt

Within: Capital markets: debt

Cravath, Swaine & Moore LLP’s practice, which is equally adept at advising issuers and underwriters, stands out in complex deals, and has a strong track record in acquisition and spin-off transactions. The firm’s expertise on the debt side is illustrated by its enviable deal volume over the past twelve months: from November 2017 until November 2018, the group handled investment grade deals worth over $117bn. Finance co-lead Craig Arcella enjoys a premier reputation for his financial institution relationships and recently advised a group of underwriters, led by Barclays, Bank of America Merrill Lynch, Citigroup, Credit Suisse, JP Morgan and Morgan Stanley, on Union Pacific’s $6bn notes offering. Also on the underwriter side, William Fogg, who co-heads the finance practice, and newly promoted partner Michael Mariani advised the underwriters, led by JP Morgan, on a $6bn notes offering by JPMorgan Chase. Additionally, Johnny Skumpija acted on several issuer-side highlights, including advising NestlĂ© Holdings on its $8bn notes offering. In another marquee company-side transaction, Nicholas Dorsey, who also recently made partner, acted for The Walt Disney Company on offers by its wholly-owned subsidiary TWDC Holdco 613 Corporation to exchange notes issued by 21st Century Fox for up to $18.1bn. Andrew Pitts, who heads the capital markets department, and William Whelan are also prominent names in the New York-based group.

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Capital markets: high-yield debt offerings

Within: Capital markets: high-yield debt offerings

According to sources, Cravath, Swaine & Moore LLP's New York-based group ‘is among the strongest manager-side specialists in the market’, and also receives a steady stream of mandates from high-yield debt issuers. A top choice for banks to advise on major, event-driven deals, the firm regularly demonstrates that it can turn its hand to sophisticated transactions in any sector. The diverse practice has worked to increase its market share of energy deals, which has recently included financing co-head Stephen Burns advising the underwriters on Chesapeake Energy’s $1.2bn high-yield debt offering. The healthcare industry also proved a significant source of mandates during 2018, where Johnny Skumpija acted for the initial purchasers in a $1.8bn high-yield senior notes offering by Centene Escrow I Corporation, a wholly-owned subsidiary of Centene Corporation. On the issuer side, financing co-head William Fogg and recently promoted partner Michael Mariani advised TerraForm Power Operating, a portfolio company of Brookfield Asset Management, on its $1.2bn high-yield debt offering. Other key contacts include Joseph Zavaglia, who spearheaded the firm’s advice to the initial purchasers on Community Health Systems’ $1bn senior secured notes offering, financing co-head Craig Arcella and North America capital markets lead Andrew Pitts.

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United States: Media, technology and telecoms

Fintech

Within: Fintech

The New York-based blockchain and financial technology team at Cravath, Swaine & Moore LLP fields a multidisciplinary team leveraging corporate, M&A, capital markets, financing, tax, intellectual property and litigation expertise. The group frequently acts for IBM in connection with investments into financial technology companies and advised the client on the formation of TradeLens, a blockchain-enabled shipping solution which was jointly developed by Maersk and IBM. Other recent work ranges from acting for financial technology solutions company DH Corporation on its C$4.8bn sale to Vista Equity Partner and representing American Express (AmEx) in litigation relating to allegations that AmEx and numerous other issuers of credit and charge cards conspired to shift certain costs of fraudulent charges from the card issuers to merchants. Other clients include FactSet and JPMorgan; the group is assisting the former with the $265m acquisition of automated trading solutions developer Portware and acted for the latter in connection with the arrangement of credit facilities totaling $7.55bn made available to Automatic Data Processing. Intellectual property expert David Kappos has particular experience advising on blockchain issues. Corporate partners Scott Bennett and Michael Mariani are other key names to note.

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