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Key contacts
Managing Partner of Cravath’s London office and Co Head of the Capital Markets Practice for EMEA: Philip J. Boeckman
Co Head of the Capital Markets Practice for EMEA: George A. Stephanakis
Key practice areas
Bank lending : Lender side
Bank lending : Sponsor side
Capital markets
Capital markets : Debt
Capital markets : High yield
Capital markets : Equity
Financial and corporate
Corporate and M&A
Firm overview

Clients rely on Cravath’s London office for our unparalleled reputation for over 200 years of excellence in legal services and the depth of our U.S. bench, which is one of the largest in London. Our international finance practice encompasses English law-qualified lawyers who advise on the English law aspects of UK and cross-border financings.

We strive to be the firm of choice for clients facing their most important and transformative transactions.  Our work with large multinational and international companies, many of whom have retained us from their inception, has enabled us to develop a uniquely broad-based practice.  Trained across multiple disciplines and equipped with a broad range of experience, Cravath’s corporate attorneys are known for devising and applying creative solutions to complex issues.

Key transactional practices
  • Banking

  • Capital markets: Debt
  • Capital markets: Derivatives
  • Capital markets: Equity
  • Capital markets: High yield
  • Financial restructuring
  • M&A
  • Private equity
  • Private equity funds
  • Restructuring and insolvency
  • Structured finance/securitisation
Key practice contacts and recent transactional highlights
  • Cravath’s London office is uniquely positioned to advise on the full spectrum of leveraged financings, including high-yield bond offerings and direct lending, syndicated loan and other types of acquisition financing transactions, as well as restructurings and distressed financings.  Our international bank and bond practice is one of the most highly regarded in the world and the Firm has consistently ranked at or near the top since market inception.  We regularly advise corporate issuers and borrowers, investment banks, financial sponsors and alternative lenders on a wide range of high-yield, bridge and other bespoke debt financings, including many offerings by first-time issuers and some of the most complex or novel transactions. 

  • Our lawyers have handled many of the initial high-yield bond financings in Europe, as well as many significant recent leveraged bank financings.  We have introduced innovations such as the standard intercreditor provisions used in Europe, loan options in lieu of bond financings, “all-bond” structures and the first toggle notes used in Europe.  
Sector expertise
  • Accounting

  • Agriculture
  • Automotive
  • Aviation
  • Banking
  • Construction and materials
  • Consumer goods and services
  • Energy
  • Financial services
  • Fisheries and aquaculture
  • Food and beverage
  • Forestry
  • Gaming
  • Government and public policy
  • Healthcare
  • Industrials
  • Insurance
  • Investment management
  • Media
  • Mining
  • Natural resources
  • Oil and gas
  • Pharm and life sciences
  • Real estate
  • Shipping
  • Social infrastructure
  • Tech and telecoms
  • Tourism
  • Transport
  • Utilities
Other offices

Two Manhattan West
375 Ninth Avenue
New York, NY 10001
T+1-212-474-1000
F+1-212-474-3700
newyork@cravath.com
 
1601 K Street NW
Washington, D.C. 20006
T+1-202-869-7700
F+1-202-869-7600
washingtondc@cravath.com

Address:
100 Cheapside
London EC2V 6DT
Tel:+44-20-7453-1000 Fax:+44-20-7860-1150 Email:Contact Us Web Address:https://www.cravath.com/
Rankings published in 2026
Bank lending : Lender side
Tier 3
46 firms ranked
View full list

Tier 1

A&O Shearman
31 practice areas
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Latham & Watkins
29 practice areas
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Linklaters
33 practice areas
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Milbank
27 practice areas
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Tier 2

Clifford Chance
31 practice areas
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Paul Hastings
24 practice areas
View profile
Weil Gotshal & Manges
26 practice areas
View profile
White & Case
30 practice areas
View full profile

Tier 3

Ashurst Perkins Coie
31 practice areas
View profile
CMS Cameron McKenna Nabarro Olswang
25 practice areas
View profile
Cravath Swaine & Moore
8 practice areas
View full profile
Freshfields
30 practice areas
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Herbert Smith Freehills Kramer
27 practice areas
View full profile
Hogan Lovells Cadwalader
31 practice areas
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Macfarlanes
18 practice areas
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Mayer Brown
24 practice areas
View full profile
Norton Rose Fulbright
24 practice areas
View profile

Tier 4

Baker McKenzie
23 practice areas
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DLA Piper
23 practice areas
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Davis Polk & Wardwell
12 practice areas
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Dechert
18 practice areas
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Dentons
20 practice areas
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Fieldfisher
12 practice areas
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Morgan Lewis & Bockius
19 practice areas
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Ropes & Gray
18 practice areas
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Simpson Thacher & Bartlett
20 practice areas
View profile

Tier 5

Addleshaw Goddard
9 practice areas
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Bracewell
9 practice areas
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King & Spalding
12 practice areas
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McDermott Will & Schulte
17 practice areas
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Reed Smith
16 practice areas
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Simmons & Simmons
19 practice areas
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Travers Smith
24 practice areas
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Watson Farley & Williams
5 practice areas
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Willkie Farr & Gallagher
12 practice areas
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Winston Taylor
14 practice areas
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Notable

Akin Gump Strauss Hauer & Feld
22 practice areas
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Eversheds Sutherland
15 practice areas
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Fried Frank Harris Shriver & Jacobson
18 practice areas
View profile
Kirkland & Ellis
23 practice areas
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Morrison & Foerster
17 practice areas
View profile
Osborne Clarke
4 practice areas
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Paul Weiss Rifkind Wharton & Garrison
9 practice areas
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Proskauer Rose
17 practice areas
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Skadden Arps Slate Meagher & Flom
25 practice areas
View profile
Sullivan & Worcester
2 practice areas
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Bank lending : Sponsor side
Notable
34 firms ranked
View full list

Tier 1

Freshfields
30 practice areas
View full profile
Kirkland & Ellis
23 practice areas
View profile
Latham & Watkins
29 practice areas
View full profile
Simpson Thacher & Bartlett
20 practice areas
View profile
Weil Gotshal & Manges
26 practice areas
View profile

Tier 2

A&O Shearman
31 practice areas
View full profile
Clifford Chance
31 practice areas
View full profile
Linklaters
33 practice areas
View profile
Paul Weiss Rifkind Wharton & Garrison
9 practice areas
View profile
Ropes & Gray
18 practice areas
View profile
Skadden Arps Slate Meagher & Flom
25 practice areas
View profile

Tier 3

Ashurst Perkins Coie
31 practice areas
View profile
Debevoise & Plimpton
18 practice areas
View profile
Gibson Dunn & Crutcher
15 practice areas
View profile
Macfarlanes
18 practice areas
View profile
Travers Smith
24 practice areas
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White & Case
30 practice areas
View full profile

Tier 4

Cleary Gottlieb Steen & Hamilton
16 practice areas
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McDermott Will & Schulte
17 practice areas
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Paul Hastings
24 practice areas
View profile
Willkie Farr & Gallagher
12 practice areas
View profile

Notable

Baker McKenzie
23 practice areas
View profile
Cravath Swaine & Moore
8 practice areas
View full profile
Fried Frank Harris Shriver & Jacobson
18 practice areas
View profile
Goodwin Procter
9 practice areas
View profile
Herbert Smith Freehills Kramer
27 practice areas
View full profile
King & Spalding
12 practice areas
View profile
Mayer Brown
24 practice areas
View full profile
Milbank
27 practice areas
View profile
Morgan Lewis & Bockius
19 practice areas
View full profile
Morrison & Foerster
17 practice areas
View profile
Proskauer Rose
17 practice areas
View profile
Sidley Austin
23 practice areas
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Winston Taylor
14 practice areas
View profile
Capital markets : Debt
Tier 3
39 firms ranked
View full list

Tier 1

A&O Shearman
31 practice areas
View full profile
Clifford Chance
31 practice areas
View full profile
Linklaters
33 practice areas
View profile
White & Case
30 practice areas
View full profile

Tier 2

Ashurst Perkins Coie
31 practice areas
View profile
Cleary Gottlieb Steen & Hamilton
16 practice areas
View full profile
Davis Polk & Wardwell
12 practice areas
View profile
Freshfields
30 practice areas
View full profile
Herbert Smith Freehills Kramer
27 practice areas
View full profile
Skadden Arps Slate Meagher & Flom
25 practice areas
View profile
Slaughter and May
27 practice areas
View profile

Tier 3

Baker McKenzie
23 practice areas
View profile
Cravath Swaine & Moore
8 practice areas
View full profile
Dechert
18 practice areas
View full profile
Dentons
20 practice areas
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Latham & Watkins
29 practice areas
View full profile
Norton Rose Fulbright
24 practice areas
View profile
Sidley Austin
23 practice areas
View profile
Simmons & Simmons
19 practice areas
View profile
Sullivan & Cromwell
8 practice areas
View profile

Tier 4

Akin Gump Strauss Hauer & Feld
22 practice areas
View profile
CMS Cameron McKenna Nabarro Olswang
25 practice areas
View profile
Hogan Lovells Cadwalader
31 practice areas
View profile
Jones Day
17 practice areas
View profile
Mayer Brown
24 practice areas
View full profile
Morgan Lewis & Bockius
19 practice areas
View full profile
Morrison & Foerster
17 practice areas
View profile
Paul Hastings
24 practice areas
View profile

Notable

Arnold & Porter
12 practice areas
View profile
Debevoise & Plimpton
18 practice areas
View profile
Fried Frank Harris Shriver & Jacobson
18 practice areas
View profile
Greenberg Traurig
11 practice areas
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Macfarlanes
18 practice areas
View profile
McDermott Will & Schulte
17 practice areas
View profile
Proskauer Rose
17 practice areas
View profile
Reed Smith
16 practice areas
View profile
Simpson Thacher & Bartlett
20 practice areas
View profile
Weil Gotshal & Manges
26 practice areas
View profile
Willkie Farr & Gallagher
12 practice areas
View profile
Capital markets : Equity
Tier 5
41 firms ranked
View full list

Tier 1

A&O Shearman
31 practice areas
View full profile
Clifford Chance
31 practice areas
View full profile
Latham & Watkins
29 practice areas
View full profile
Linklaters
33 practice areas
View profile

Tier 2

Freshfields
30 practice areas
View full profile
Slaughter and May
27 practice areas
View profile
White & Case
30 practice areas
View full profile

Tier 3

Ashurst Perkins Coie
31 practice areas
View profile
Cleary Gottlieb Steen & Hamilton
16 practice areas
View full profile
Davis Polk & Wardwell
12 practice areas
View profile
Herbert Smith Freehills Kramer
27 practice areas
View full profile
Milbank
27 practice areas
View profile
Skadden Arps Slate Meagher & Flom
25 practice areas
View profile
Travers Smith
24 practice areas
View profile

Tier 4

Baker McKenzie
23 practice areas
View profile
Gibson Dunn & Crutcher
15 practice areas
View profile
Hogan Lovells Cadwalader
31 practice areas
View profile
Norton Rose Fulbright
24 practice areas
View profile
Simmons & Simmons
19 practice areas
View profile
Sullivan & Cromwell
8 practice areas
View profile

Tier 5

CMS Cameron McKenna Nabarro Olswang
25 practice areas
View profile
Cooley
2 practice areas
View profile
Cravath Swaine & Moore
8 practice areas
View full profile
Fried Frank Harris Shriver & Jacobson
18 practice areas
View profile
Greenberg Traurig
11 practice areas
View profile
Macfarlanes
18 practice areas
View profile
Paul Hastings
24 practice areas
View profile
Sidley Austin
23 practice areas
View profile
Simpson Thacher & Bartlett
20 practice areas
View profile
Weil Gotshal & Manges
26 practice areas
View profile

Notable

Akin Gump Strauss Hauer & Feld
22 practice areas
View profile
Burges Salmon
22 practice areas
View profile
Debevoise & Plimpton
18 practice areas
View profile
Dechert
18 practice areas
View full profile
Dentons
20 practice areas
View profile
Mayer Brown
24 practice areas
View full profile
McDermott Will & Schulte
17 practice areas
View profile
Morgan Lewis & Bockius
19 practice areas
View full profile
Proskauer Rose
17 practice areas
View profile
Reed Smith
16 practice areas
View profile
Winston Taylor
14 practice areas
View profile
Capital markets : High yield
Tier 2
29 firms ranked
View full list

Tier 1

A&O Shearman
31 practice areas
View full profile
Kirkland & Ellis
23 practice areas
View profile
Latham & Watkins
29 practice areas
View full profile
Milbank
27 practice areas
View profile

Tier 2

Clifford Chance
31 practice areas
View full profile
Cravath Swaine & Moore
8 practice areas
View full profile
Simpson Thacher & Bartlett
20 practice areas
View profile

Tier 3

Linklaters
33 practice areas
View profile
Paul Hastings
24 practice areas
View profile
Paul Weiss Rifkind Wharton & Garrison
9 practice areas
View profile
Ropes & Gray
18 practice areas
View profile
Weil Gotshal & Manges
26 practice areas
View profile
White & Case
30 practice areas
View full profile

Tier 4

Cleary Gottlieb Steen & Hamilton
16 practice areas
View full profile
Davis Polk & Wardwell
12 practice areas
View profile
Freshfields
30 practice areas
View full profile
Skadden Arps Slate Meagher & Flom
25 practice areas
View profile

Tier 5

Ashurst Perkins Coie
31 practice areas
View profile
Baker McKenzie
23 practice areas
View profile
King & Spalding
12 practice areas
View profile
Sidley Austin
23 practice areas
View profile
Willkie Farr & Gallagher
12 practice areas
View profile

Notable

Cahill Gordon & Reindel
5 practice areas
View profile
Debevoise & Plimpton
18 practice areas
View profile
Dechert
18 practice areas
View full profile
Mayer Brown
24 practice areas
View full profile
McDermott Will & Schulte
17 practice areas
View profile
Morrison & Foerster
17 practice areas
View profile
Proskauer Rose
17 practice areas
View profile
Linked Reviews
Financial and corporate

Cravath, Swaine & Moore is one of the premier New York firms operating in London. The firm is recognised for its lender-side finance practice and has acted on some of the biggest leveraged finance transactions in the European market this year. Its London team is also sought after for complex capital markets mandates, including high yield, SEC-registered offerings and Rule 144A transactions. 

Key clients 

Key clients include European Investment Bank, BAE Systems, British American Tobacco, INEOS, IWG, Goldstory, Drax, Picard, AngloGold Ashanti, Campari, Lifezone Metals, Tata Technologies, Investcorp, Marlin Equity Partners, Francisco Partners and Altamir

Highlights 

Cravath represented the lead arrangers and initial purchasers in the €1.9 billion bank/bond financing supporting the public-to-private acquisition of Applus+ by TDR Capital and I Squared Capital. This transaction won “Loan Deal of the Year” at the IFLR Europe Awards in 2025.

The finance team, led by Philip Stopford, acted as lead counsel to the arrangers (Belron) in connection with one of the most widely followed leveraged finance transactions of 2024: a $4.7 billion term loan facility and a €2 billion term loan facility made available to Belron Finance 2019 LLC and Belron UK Finance PLC, indirect wholly-owned subsidiaries of Belron Group SCA.

Cravath represented the initial purchasers in connection with the 144A/Reg. S high-yield senior secured notes offering and concurrent cash tender offer of Iliad Holding S.A.S. (“Iliad”), a leading European telecommunications provider.  The notes were listed on The International Stock Exchange.  

Personnel Changes 

Jackson Lam and Margaret Rallings were promoted to partner effective January 2025. Jackson, formerly European counsel, focuses on complex cross-border leveraged finance transactions, syndicated lending, and alternative and subordinated financing products. Margaret represents leading financial institutions, private credit funds, and corporate issuers and borrowers in capital markets and leveraged finance transactions. Joji Ozawa joined as European counsel in January 2025 from Milbank. 

Testimonials 

“While historically a bonds practice, Cravath have built out their loan capabilities in recent years and are now a go-to firm for both bonds and loans” – Banking and finance

“Cravath has one of the most experienced teams in the high yield market” – High yield

“Outstanding lawyers in the team” – High yield

“The Cravath team are capable of handling high-value, complex and sophisticated corporate, capital markets, and financing work” – Corporate and finance

“George Stephanakis is highly regarded and has unparalleled expertise in bonds” – Banking and finance

12 results12 results
Deal Highlights
29 results29 results
Deal Name Deal Date Firm Name Jurisdiction Deal Type Lawyer Names Client Names Client Role
Young & Co Brewery - Secondary share offering
2020-06-25
Cravath Swaine & Moore
United Kingdom
Secondary share offering
Philip J Boeckman
Young & Co Brewery
Issuer
The Restaurant Group - Secondary share offering
2020-01-04
Cravath Swaine & Moore
United Kingdom
Secondary share offering
Philip J Boeckman
The Restaurant Group
Issuer
Davide Campari-Milano - Restructuring
2020-01-07
Cravath Swaine & Moore
United Kingdom
Restructuring
Philip J Boeckman
Davide Campari-Milano
Insolvent entity
Bellis Acquisition Co - Bond Issue
2021-10-01
Cravath Swaine & Moore
United Kingdom
Bond issue
Bank of America Merrill Lynch, Deutsche Bank, HSBC, Lloyds Banking Group, Morgan Stanley, Rabobank
Underwriter
Swvl Holdings Corp. - M&A
2022-04-28
Cravath Swaine & Moore
United Kingdom
M&A
Keith Hallam, III, Nicholas Dorsey, Sanjay Murti
Swvl Holdings Corp.
Buyer
Capricorn Energy Plc - M&A
2022-06-01
Cravath Swaine & Moore
United Kingdom
M&A
Philip Boeckman
Capricorn Energy Plc
Target
Micro Focus International plc - M&A
2022-08-25
Cravath Swaine & Moore
United Kingdom
M&A
G.J. Ligelis Jr., George Schoen, Philip Boeckman
Micro Focus International plc
Target
RIB Software SE - M&A
2023-06-01
Cravath Swaine & Moore
United Kingdom
M&A
RIB Software SE
Seller
Autovista Group - M&A
2023-09-12
Cravath Swaine & Moore
United Kingdom
M&A
Autovista Group
Target
2
of
2
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