A&O Shearman hosts one of the market’s most regarded teams, especially when it comes to advising banks on large DCM issuances conducted by leading French corporations and financial institutions including insurers. The practice can deal with a whole range of DCM work including ESG, complex hybrid and convertibles issuances. Its regularly handles innovative work such as recently advising on the issuance of inaugural blockchain bonds recorded on a distributed ledger technology (DLT) platform. Its French expertise is complemented by excellent cross-border U.S. securities law capabilities, including sovereign debt issuances. The practice is co-headed by the excellent trio made of the firm’s managing partner  Hervé Ekué , US law expert  Diana Billik and Julien Sébastien. They are supported by counsels Soline Louvigny , Lorraine Miramond  and senior associate  Quentin Herry.

An undisputed leader in the field, Cleary Gottlieb Steen & Hamilton's Parisian outfit impresses by the breadth of its coverage and expertise, that spans EU, US, Asian and sovereign related work. The team works for large issuers including leading French banks, corporations and sovereign entities, as well as for bookrunners and arrangers. It assists clients with the establishment of large bond programmes and subsequent issuances, while its range of involvement includes investment grade, high-yield debt offerings, bank capital securities and MREL/TLAC-eligible offerings and liability management transactions. The high-profile team is co-headed by: senior counsel Andrew Bernstein, Valérie Lemaitre , US expert John Brinitzer  , Barthélemy Faye who advises African sovereign entities on DCM and derivatives transactions, and counsels Laura Birene and Frédéric Martin .

Clifford Chance's Parisian team gathers French and UK expertise and regularly leverages its practice by pooling forces with the London office. The highly qualified team assists leading French and international banks and major French corporations in dealing with the setting up of programmes and with large EMTN, sustainable and hybrid bond issuances. The practice is also able to deal with complex hybrid swaps, exchange offers, liability management issues and has rare expertise on sovereign debt-for-nature swaps. Cédric Burford is the key name within the practice, with counsels Auriane Bijon ,  Olivier Plessis , Andrew McCann. and Alexander Tollast  being other key contributors. Alex Bafi has now retired.

 

Linklaters runs a busy practice, often advising top banks and leading financial institutions while assisting major French issuers with very large debt issuances. The team advises on a large array of transactions, including ESG, tender offer and convertibles and Tier 1 notes. In addition to its excellent French practice, the Parisian based team is also recognised for its US law expertise, regularly assisting banks with Rule 144A and Regulation S transactions conducted by leading French banks and corporations. The team is headed by the excellent   Véronique Delaittre  and Luis Roth  who advises on US law work. US qualified associate  Cheri De Luca provides support.

White & Case LLP boasts large resources and a team led by experienced partners who indifferently act for leading banking institutions or issuers. The practice covers a wide spectrum of transactions, from the setup of EMTN programmes to the largest and most sophisticated DCM issuances (hybrid bonds, inaugural green and social bonds issuances, sustainability-linked bonds and liability management transactions). The Parisian team combines French and US expertise which also allows it to be active in emerging markets, notably advising on sovereign deals in francophone Africa.  The stellar practice is headed by Thomas Le Vert since August 2024 and includes Séverin Robillard , Grégoire Karila , Olga Fedosova and US law expert Max Turner. Counsel Tatiana Uskova also deserves a mention.

CMS Francis Lefebvre often assists French banking institutions acting as arrangers in relation to the setup of large EMTN programmes and subsequent issuance as well as with large covered-bond issuances. The practice is also a leading reference in the EuroPP field while also regularly advising on sustainable finance bond issuances. Finally, it also assists clients with some US private placements. The team is co-headed by the excellent Marc-Etienne Sébire and Rosetta Ferrère, with support provided by senior associate Yaël Fitoussi .

At Herbert Smith Freehills LLP, practice head Louis De Longeaux  is one of France’s preferred advisers to many French CAC 40 and SBF 120 companies which his team assists with large bond issuances and the setting up of EMTN programmes. The practice’s range of work also extends to Schuldschein, convertibles and hybrid issuances.

Hogan Lovells (Paris) LLP is home to an experienced team that advises a loyal client base, that includes several major French corporations (especially in the energy sector) acting as issuers as well as a French bank. The Parisian team combines excellent French and UK law capabilities and regularly assists clients with the establishment of large EMTN programmes and consecutive bond issuances. It is also entrusted to deal with more complex transactions such as green bond and digital bond issuances. The highly regarded Sharon Lewis coheads the practice alongside Vincent Fidelle and Katia Merlini. Counsels Reza Mulligan  and Ailsa Davies  also contribute.

Latham & Watkins ' excellent combination of US and French capabilities make the firm a reference for high-yield bonds issuances and liability management work, including innovative tender, exchange and consent offers. The practice has a strong presence among banks, investors and corporations which it also advises on classic bond issuances while the team also regularly assists clients with private placements in the US. The Parisian team, which regularly leverages on the firm’s international platform, is headed by Thomas Margenet-Baudry  and includes Roberto Reyes Gaskin who are both French and US qualified lawyers. Supporting them is counsel Michael Ettannani .