Drax Finco plc’s $300 Million High‑Yield Senior Secured Notes Offering

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 company, led by Dwight D Willard Gardiner, Den Jones and Andrew Koss, in 2017 recorded £3.685 Billion Revenues. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on April 26, 2018.

The Cravath team included partner Alyssa K. Caples (Picture) 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.

Involved fees earner: Alyssa Caples – Cravath Swaine & Moore; Norman Walczak – Cravath Swaine & Moore; Cecily Xi – Cravath Swaine & Moore; Leon Dalezman – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Drax Group plc;