Cravath represented Santander Holdings USA, the selling stockholder, in connection with the US$1.8 billion initial public offering of common stock of Santander Consumer USA Holdings Inc., a full-service, technology-driven consumer finance company focused on vehicle finance and unsecured consumer lending products. Santander Consumer USA Holdings Inc. is a subsidiary of Banco Santander, S.A. The shares were listed on the New York Stock Exchange. The transaction closed on January 28, 2014.

The Cravath team included partners Richard Hall and Joel F. Herold and associates G.J. Ligelis Jr., Brandon W. Fenn and Ali Assareh.