Cravath represented the initial purchasers, led by Citigroup and NatWest Markets, in connection with the EU400 million Regulation S high-yield senior notes add-on offering of Smurfit Kappa Acquisitions Unlimited Company, a wholly owned subsidiary of Smurfit Kappa Group plc, one of the world's largest integrated manufacturers of paper-based packaging products. The notes were listed on the Irish Stock Exchange. The transaction closed on February 4, 2019.

The Cravath team included partner Philip J. Boeckman, European Counsel Margaret R. M. Rallings, associates Said Bakir and Alexander Gerten and foreign associate attorney Natalia Gutierrez Macias on securities matters, and partner Kara L. Mungovan and associate Joyce Y. Kim on tax matters.