Capital markets: equity offerings

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP‘s large capital markets team and its experienced bench of partners brings it a steady stream of big-ticket engagements, both for issuers and underwriters. Along with its outstanding record in high-yield and investment grade debt transactions, its domestic and global reputation consistently puts it in the frame for the most sought after equity offerings. Despite dampened deal activity in 2o23, it advised on Kenvue’s $4.37bn IPO as part of its $41bn spin-off from Johnson & Johnson. Michael Mariani has carved out a burgeoning reputation. Daniel Haaren is another emerging name, along with Nicholas Dorsey . William Fogg, Andrew Pitts and Scott Bennett are the senior names in the team. All are based in New York.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

'The bench is very deep and has the expertise on everything we have needed.'
'Very good, practical judgment. Disclosure is often more art than science, and Cravath's advice strikes just the right balance between being appropriately protective and commercially actionable.'

Key clients

AerCap
H&M
INEOS
Johnson & Johnson
Kenvue
Monogram Health
US Foods
White Mountains
Various financial institutions

Work highlights

Represented Kenvue and Johnson & Johnson in connection with Kenvue’s $4.37bn, the largest to result from a corporate carve out in over two decades.
Represented AerCap in three secondary offerings of ordinary shares by the selling shareholder, a wholly owned subsidiary of General Electric, totalling $6.06bn.
Represented the underwriters in the $2.03bn registered secondary common stock offering of agilon health.

Lawyers

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