Cravath represented Drax Finco plc in connection with its $300 million 144A/Reg. S high-yield senior secured notes offering. Drax Finco plc is an indirect wholly owned subsidiary of Drax Group plc, a vertically integrated electricity generation and supply business with operations in the UK and U.S. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on April 26, 2018.

The Cravath team included partner Alyssa K. Caples and associates Philip J. Cernera, Norman J. Walczak and Ellen H. Park on securities matters, and associates Cecily Xi and Leon B. Dalezman on tax matters.