Ropes & Gray LLP has an excellent track record in high-yield and large note bond issuances, particularly in leveraged buyback transactions. Major private equity clients include Baring Private Equity Asia and Bain Capital. The firm has also developed successful relationships with underwriting banks such as Goldman Sachs and Morgan Stanley. In addition to private equity, the capital markets team is particularly active in the areas of financial services and healthcare. Paul Tropp has played a key role in representing underwriters and Alexander Zeltser is qualified to advise private equity funds, their portfolio companies and underwriters. Thomas Fraser is a key figure in Boston. M. Giovannelli is a partner in the Charlotte office and focuses on private equity, mergers and acquisitions, corporate finance, including senior debt, mezzanine debt and growth capital, and corporate broad-based matters. Lord. Giovannelli regularly represents limited partners, mezzanine and growth capital investors and other participants in complex buyout, recapitalization and financing transactions. He also represents other companies in various strategic, financial and corporate fields.

Paul Hastings LLP is recognized for his strong expertise in representing banks in highly leveraged buyouts, refinancings and syndicated loans. The company is a popular choice among private equity firms for sponsor-appointed mandates and has a reputation for commerciality. New York is home to most of the team, including Jennifer Yount, who leads the global finance and restructuring group, and highly respected co-chairs Michael Baker and John Cobb. Other key centres include Los Angeles, where Katherine Bell is a senior partner, and Chicago, where Maureen Sweeney has a strong debt finance practice. The firm also represents direct lenders and has a strong offering on the borrower side, advising both corporates and private equity funds. Jones Day offers an extremely diverse and adaptable practice, led from New York by the highly experienced Brett Barragate. The team is a critical part of the company`s global financing offering and works closely with teams in Asia, Europe and Latin America. This has made it a popular choice among global banks, where the company currently sits on more than 40 panels. In the United States, the team is also strongly represented in Chicago and Cleveland. Its lawyers advise a fairly equal mix of borrowers and lenders, including financial institutions, loan funds, private equity funds, and corporate borrowers.

Key lawyers include the versatile Chip Bensinger, Lewis Grimm, Kim Desmarais (who is very active on the leveraged buyout side) and Rachel Rawson in Cleveland. Fried, Frank, Harris, Shriver & Jacobson LLP has steadily increased its position in high yield bonds and has now consolidated its position among the leading companies as issuing advisors. He plays an important role as legal advisor to policyholders. He has advised on a number of high-quality, high-yield transactions for companies such as T-Mobile and Novelis, and has represented underwriters in Clarivate and Sonic Automotive`s offerings. In addition to its corporate and investment banking connections, the firm is often advised by private equity clients and their portfolio companies. Daniel Bursky, Head of the Capital Markets team, leads many of the Group`s key transactions, which operate in equities and debt. Andrew Barkan, Mark Hayek and Joshua Coleman are also prominent names in the department. Weil, Gotshal & Manges LLP has a healthy high-yield debt practice, thanks in large part to its extensive private equity and corporate client base, as well as an impressive portfolio of underwriting client exposures. Frank Adams is a leader in acquisitions, leveraged financing and high-yield bonds. Michael Hickey has been instrumental in developing closer ties with underwriters and improving the firm`s position in high-yield bonds. Corey Chivers is also an important name, as is prominent up-and-coming talent Merritt Johnson, who was recently hired by Shearman & Sterling LLP.

Alexander Lynch leads the Capital Markets Group. All of these people are based in New York. “Jeff Katz offers a wide range of expertise in leveraged lending and restructuring advice. He excels at thinking about several steps by helping us to think about the structure of a document and its implications. He has a good balance between thinking like an investor and balancing his role as a lawyer Paul Hastings LLP`s global commitment to capital markets and leveraged finance has laid the foundation for a growing practice in high-yield bonds. He is now regularly engaged by major underwriters such as Barclays, Jefferies and RBC Capital Markets. On the issuer side, the company represents a number of private equity funds, public companies and private companies, particularly in the energy and real estate sectors. It is also at the forefront of Latin American broadcasts, particularly Mexico. The firm operates a well-integrated high-yield, leveraged financing practice with partners like John Cobb operating beyond the division. Frank Lopez is Co-Head of Capital Markets and Managing Partner of the firm; He is a recognized expert in high-yield bonds. Cathleen McLaughlin is another seasoned practitioner with extensive experience in Latin American offerings, including infrastructure transactions, as is Michael Fitzgerald, who has unparalleled experience in Mexican capital markets companies. Cahill Gordon & Reindel LLP is by far the busiest law firm when it comes to lender-led advice.

According to Thomson Reuters, the team advised 127 leveraged loans with a total value of more than $129 billion in the first three quarters of 2019. The company is often seen as the lender`s advisor of choice for private equity-led leveraged buyouts, and there are few other practices in the market that can compete in scope and experience. Practice leaders Jonathan Schaffzin and Daniel Zubkoff lead the New York-based team and both have a very heavy workload, and with partners such as Douglas Horowitz and James Clark, the firm has two of the most experienced banking lawyers on the market. Other key figures include William Miller, who is regularly involved in major debt instruments, Corey Wright, who is known for his expertise in debt swaps and out-of-court debt restructuring, and Marc Lashbrook, who regularly manages large acquisition financings and high-yield debt. Jennifer Ezring is also prominent in leveraged financing and asset-based lending. McGuireWoods LLP goes unnoticed due to the often New York-centric worldview of the financial worldview, despite one of the most active practices in the market. The team is led from Charlotte by Raj Natarajan and is one of the largest players in the market in terms of volume and number of transactions. Strong relationships with Bank of America and Wells Fargo ensure a significant flow of middle-market lender mandates, while the company also has large niches in key areas such as healthcare financing, where it represents specialty lenders such as White Oak Healthcare Finance.