L Brands’ $1.25 Billion High‑Yield Senior Secured and Senior Unsecured Notes Offering

Cravath represented the initial purchasers in the offering.

L Brands, Inc. executed its $1.25 billion 144A/Reg. S high-yield senior secured and senior unsecured notes offering. The transaction closed on June 18, 2020.

L Brands, Inc. is a specialty retailer of women’s apparel, personal care and beauty and home fragrance products.

Cravath represented the initial purchasers, led by J.P. Morgan Securities, Barclays, BofA Securities, Citigroup, HSBC and Wells Fargo Securities, with a team including partners Joseph D. Zavaglia (Picture) and William V. Fogg, senior attorney Issac C. Beerman and associates Nicholas J. Maida, Cole DuMond, Timothy N. Nguyen and Benjamin H. Barocas on capital markets matters, and partner Christopher K. Fargo and associates Peter W. Rogers and Luis Calderon-Gomez on tax matters.

Involved fees earner: Isaac Beerman – Cravath Swaine & Moore; Luis Calderon Gomez – Cravath Swaine & Moore; Cole Dumond – Cravath Swaine & Moore; Christopher K. Fargo – Cravath Swaine & Moore; William Fogg – Cravath Swaine & Moore; Nicholas Maida – Cravath Swaine & Moore; Timothy Nguyen – Cravath Swaine & Moore; Peter Rogers – Cravath Swaine & Moore; Joseph Zavaglia – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Bank of America Securities; Barclays Capital ; Citigroup Global Markets Ltd; HSBC; J.P. Morgan Securities LLC; Wells Fargo Securities;

Author: Ambrogio Visconti