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Cravath, Swaine & Moore LLP

CITYPOINT, ONE ROPEMAKER STREET, LONDON, EC2Y 9HR, ENGLAND
Tel:
Work 020 7453 1000
Fax:
Fax 020 7860 1150
Email:
Web:
www.cravath.com
London, NEW YORK

Top-tier Firm rankings

Firm Rankings


London: Finance

Debt capital markets
Debt capital markets - ranked: tier 3

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP acts for corporate issuers, investment banks and financial sponsors in a range of offerings, including investment grade and high yield corporate bonds, and sovereign and supranational debt issuance. Often targeted at US investors, these deals include SEC-registered, Rule 144A and Regulation S offerings, as well as private placements. The practice in London frequently advises first-time issuers of Yankee bonds, as well as handling complex transactions for corporates such as British American Tobacco and Bacardi. The practice, led by Philip Boeckman and George Stephanakis, also acts as underwriter counsel for major investment banks, among which are Barclays, Credit Suisse and Deutsche Bank. Its sovereign and supranational clients include the European Investment Bank and the Republic of Poland.

Practice head(s):Philip Boeckman; George Stephanakis

Other key lawyers:Alyssa Caples; Roberto Bruno

Key Clients

Bacardi

Barclays

B.A.T Capital Corporation (British American Tobacco)

BNP PARIBAS

Citigroup

Credit Suisse

Deutsche Bank

European Investment Bank

Goldman Sachs International

JP Morgan Chase

Morgan Stanley

Work highlights

  • Represented the European Investment Bank in nine registered notes offerings totalling $28bn.
  • Cravath represented B.A.T Capital Corporation in its Rule 144A exchange offer totalling up to $17.25bn.
  • Represented Bacardi Limited in its $2.6bn 144A/Reg. S notes offering.
  • Represented RELX Capital Inc. in its $950m registered notes offering.

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High yield
High yield - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP¬†has¬†a large practice in London that handles high yield bonds and other financing structures, and it is consistently one of the leading firms acting as underwriter's counsel in the European market. The firm has 'great partners' in practice co-heads¬†Philip Boeckman¬†and¬†George Stephanakis, and key partner¬†Alyssa Caples. The firm's client base is well balanced between representing issuers and underwriters, and it has notable expertise in complex, cross-border high yield bond issuance in multiple currencies. Its role in complex and novel deal structures is exemplified by its role, acting for initial purchasers, in¬†the high yield financing of the novel public-to-private (P2P) takeover of Recordati, which included the issuance of¬†‚ā¨1.3bn in 144A/Reg. S high yield fixed and floating rate senior secured notes by Luxembourg-based debt vehicle¬†Rossini. Boeckman led that transaction.¬† Stephanakis, who handles M&A and capital markets work, acted in the $300m and ‚ā¨280m notes offering of CGG. Caples acted for energy company Drax in a¬†$300m offering.

Practice head(s):Philip Boeckman; George Stephanakis

Other key lawyers:Alyssa Caples; Margaret Rallings

Key Clients

BNP Paribas

Citigroup

Credit Suisse

Deutsche Bank

Drax

Goldman Sachs International

HSBC

Jefferies

JP Morgan Chase

KKR

NatWest Markets

Picard

Premier Foods

Yell

Work highlights

  • Represented the initial purchasers in the €530m and SEK1.28bn high yield notes offering of Garfunkelux Holdco 3 S.A.
  • Represented the initial purchasers in the €1.3bn high yield notes offering of Rossini S.à r.l.
  • Represented the initial purchasers in the €600m and €400m  high yield notes offerings of Smurfit Kappa Acquisitions Unlimited Company.
  • Represented the initial purchasers in the $300m and €280m high yield notes offering of CGG Holding (U.S.) Inc.
  • Represented the initial purchasers in the €350m and £225m high yield notes offering of La Financière ATALIAN S.A.S.
Leading individuals

Alyssa Caples - Cravath, Swaine & Moore LLP

George Stephanakis - Cravath, Swaine & Moore LLP

Philip Boeckman - Cravath, Swaine & Moore LLP

Rising stars

Margaret Rallings - Cravath, Swaine & Moore LLP

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