Cravath represented the initial purchasers, led by J.P. Morgan Securities, Citigroup, Goldman, Sachs & Co. and Morgan Stanley, in connection with the US$1.25 billion 144A/Reg. S high‑yield senior debt offering of RJS Power Holdings LLC, an independent power producer operating in the United States that sells electric energy, generating capacity and ancillary services on a wholesale basis. Cravath also represented J.P. Morgan Securities as sole lead arranger of the US$150 million senior secured revolving credit facility for RJS Power Holdings LLC. The transactions closed on July 10, 2014.
The Cravath team included partner Johnny G. Skumpija and associates Katerina M. Novak, Laura E. Hansell and David J. Kohtz on securities matters; partner George E. Zobitz, senior attorney Christopher J. Kelly and associate Michael L. Arnold on banking matters; partner Christopher K. Fargo and associate William B. Abbot on tax matters; partner Eric W. Hilfers and associate Amy C. Benford on executive compensation and benefits matters; and partner Matthew Morreale on environmental matters. Summer associates Devon Klein and Noah X. DeBlasi also worked on securities and banking matters, respectively.
