Kirkland & Ellis International LLP maintains a market-leading reputation in high-yield bond transactions, fielding a deep bench of specialists who frequently advise on complex, cross-border deals. The practice has been particularly active in the leveraged finance space, acting on innovative deal structures and supporting sponsors across the full transaction cycle. Joint practice heads Cedric Van den Borren and Marwa Elborai are both recognised for their extensive experience advising sponsors, corporates, and credit funds on a wide range of high-yield mandates. Tim Volkheimer remains active on leveraged and high-yield financings, restructurings and liability management transactions, while Antoine Lebienvenu continues to grow his profile with a broad practice covering debt and equity capital markets. AJ Brown, Serguei Chevtchenko and Rohan Sahai were all promoted to the partnership in October 2024. William Burke has retired.

Latham & Watkins maintains its status as a dominant player in the European high yield market, handling complex, high-value transactions, including cross-border private placements and multi-currency issuances. Brett Cassidy heads up the London-based team, which includes experienced figures such as Matthew Schneider, noted for his work on large-scale, dual-currency deals, and Francesco Lione, who has a strong reputation across acquisition finance and high yield work. The group also benefits from the expertise of Jennifer M. Engelhardt, a key contact for transactions in the energy space and for multinational corporates and private equity funds, while Shawn Anderson is also highlighted. The team expanded in 2024 with the arrival of Roberto Reyes Gaskin from the Paris office, while Scott Colwell and Patrick Kwak both left the firm.

Praised by clients for its 'expertise, market knowledge, professionalism, service, and zealous advocacy', Simpson Thacher & Bartlett LLP continues to be a prominent force in the high yield space, working with a diverse range of leading asset managers and blue-chip corporates on big-ticket, frequently cross-border transactions. Nicholas Shaw is a go-to adviser for major private equity sponsors and their portfolio companies whose recent engagements include multi-billion-Euro high yield deals. Lauded for his 'broad and deep knowledge and understanding of the market', Gil Strauss is particularly noted for his expertise in US securities law. Carol Daniel is another central figure in the group, with significant experience advising on acquisition financings, LBOs and broader corporate finance matters.

A&O Shearman covers an array of matters related to acquisition financing, recapitalisation and liability management. The team is led by the ‘phenomenal’ John Kicken, who boasts nearly two decades of experience across the high yield market, covering major corporate transactions, debt issuances, and complex restructurings. Other key figures include Trevor Ingram, noted for his strong track record in cross-border deals, including acquisition financing and capital markets mandates. Bradley Weyland  is recognised for his work with clients on capital market transactions and Term Loan B facilities.

Clifford Chance LLP‘s London high yield practice has established a strong position in the European market under Michael Dakin‘s leadership, focusing on high-value, regularly multijurisdictional transactions. The team advises both corporate issuers and underwriters, acting for major financial institutions in bookrunner and initial purchaser roles. Key partners include Jill Concannon, who has extensive experience in European bond offerings with particular strength in the retail sector and a reputation for commercial pragmatism. Drew Rundus regularly handles high-yield bonds alongside revolving credit facilities and is valued by clients for his responsive, practical approach. A recent arrival from the Singapore office, Johannes Juette contributes DCM and ECM expertise to the high-yield offering.

Cravath, Swaine & Moore LLP maintains a balanced high-yield practice advising both issuers and underwriters, with particular expertise in complex cross-border transactions involving multi-currency note issuances. The firm's EMEA capital markets group is co-led by Philip Boeckman and George Stephanakis, recognised for their market insight and commercial judgment. Stephanakis is particularly valued by clients for his strategic guidance in challenging market conditions. The practice is active across sectors, including retail and data services, with a strong focus on underwriter-side mandates. Key team members include Alyssa Caples and Margaret Rallings, who was promoted to partner in January 2025. The team was strengthened in early 2025 by the addition of Joji Ozawa from Milbank.

Linklaters LLP maintains a prominent presence in the high yield market, with a practice that is praised for its broad scope and versatility across issuer, sponsor, and underwriter work. Practice head Alexander Naidenov maintains strong relationships with leading financial sponsors and institutions. ‘Very smart, creative and commercial’, Giacomo Reali is noted for his precise execution and ability to navigate particularly complex deal dynamics. Christianne Williams brings additional strength in cross-border financings, particularly at the intersection of high yield and leveraged lending. Adriana Perez Cavazos is also recommended.

Milbank is routinely engaged by a mix of corporate issuers and underwriting banks, and enjoys a strong reputation for guiding debut issuers through their first forays into the bond market, as well as supporting underwriters on complex leveraged buyouts. The group is led by Apostolos Gkoutzinis, regarded as a leading authority on deals involving Greek issuers and banks, particularly in high-stakes bond transactions. Both praised for their 'advice, market knowledge and practicality', Rebecca Marques brings substantial expertise in high-yield restructurings and LBO financing deals, while Ana Grbec is noted for her work across a diverse range of sectors.

Noted for its significant creditor-focused leveraged finance practice, Paul Hastings LLP maintains a strong position in London's high-yield market with a team recognised for its technical expertise, covering high yield bond deals alongside Term Loan B and private credit structures. The London practice primarily focuses on creditor-side work but also regularly advises sponsors and issuers on new issuances, restructurings, and liability management exercises, including bond buybacks and exchanges. Practice head Patrick Bright is regarded as a 'fantastic counsel, always level-headed and solutions-oriented.'  Maximilian Kirchner advises investment banks, corporates, and private equity sponsors. Edward Holmes has an increasing market presence, particularly on sponsor-driven financings and acquisition-related work. Jemma Lohr McPherson, who was recently promoted to partner, also comes recommended.

Drawing praise from clients for their 'proactive, commercial and creative problem-solving approach', Paul, Weiss, Rifkind, Wharton & Garrison LLP works with various leading sponsors and issuers on a host of high-value transactions, covering bond deals and developing innovative structures, including new bond types and creative funding arrangements for M&A transactions. The team is led by the 'outstanding' Matthew Merkle, who specialises in European capital markets, engaging in all areas of high yield work. Deirdre Jones regularly represents private equity sponsors, issuers, and investment banks, while Matthew Friedman is noted for his capabilities across all manner of capital markets work, leading relationships with some of the firm's most significant clients. A recent arrival from Simpson Thacher & Bartlett, Uma Sud's practice focuses on complex high-yield bond transactions, while Nicolò Ascione is especially noted for his track record in deals for sponsor-backed Italian companies.

Ropes & Gray LLP advises on high-yield deals for a mix of repeat issuers and first-time entrants to the market, handling complex transactions including structured notes with automatic exchange features, multi-billion-Euro capital structure simplifications, and innovative financing arrangements for major corporate entities. Michael Kazakevich, co-head of the firm’s global finance practice, is a key port of call for various investment banks, PE houses, and corporates. Robert Haak is praised for his ability to deliver ‘practical solutions to complex problems’, while London managing partner Jane Rogers‘ recent engagements include bond and loan refinancing deals.

Weil, Gotshal & Manges (London) LLP advises on complex and high-profile transactions, handling multidisciplinary transactions from debt issuances to hybrid financing and restructuring. The team’s work ranges from public high-yield bonds, bridge-to-bond LBO financings, to complex restructurings and distressed situations. The team is co-headed by Gilles Teerlinck, who is regularly engaged by a mix of private equity sponsors, corporates, banks, and private credit providers, and Andy Hagan, who advises many of the world’s largest sovereign wealth funds and other major credit funds on debt and preferred equity investments.

Praised for its ‘extensive experience in the high-yield sector’, Baker McKenzie works with a broad range of clients, from leading investment banks to blue-chip corporates. The team is led by Rob Mathews, who is well-known for his expertise in cross-border debt and securities. Working alongside him is Benjamin Bierwirth, a U.S. securities law practitioner who is experienced in big-ticket financing deals and ESG debt offerings. The team also includes David Becker, a leveraged finance specialist, and Adam Farlow, who chairs the firm’s global capital markets practice.

Drawing praise from clients for both their technical acumen and commercial sensibility, Freshfields' integrated New York and English law capability makes it well-placed to handle a host of high-yield transactions, working with a mix of PE firms, investment banks, and corporates. 'Extremely reliable, sensible, and clear in her advice,' Simone Bono is noted for her track record in new money transactions and bond restructurings, particularly in the German high yield market. Denise Ryan is particularly experienced in leveraged finance-related work, while the 'excellent' Haden Henderson is noted for his capabilities in refinancing transactions.

With a trans-Atlantic reach, Skadden, Arps, Slate, Meagher & Flom (UK) LLP advises on high-yield debt offerings in both European and US markets. Led by Danny Tricot, head of European capital markets, the team includes Noel Hughes, who has extensive experience in leveraged financing, high-yield debt, and debt liability management transactions, and James McDonald, who represents issuers and underwriters in high-yield debt offerings. Kenneth Ryan joined the firm as counsel in August 2024.

Engaged by a number of high-profile sponsors and issuers, Willkie Farr & Gallagher (UK) LLP's high-yield and complex restructuring practice leverages key US securities experience and European regulatory expertise in high-value transactions. Jennifer Tait, a dual-qualified (England and New York) partner, focuses on private equity and sponsor-side clients, with considerable experience in high-yield bonds in distressed and stressed capital structures. David Griffiths' experience includes both domestic and international capital market transactions.

King & Spalding LLP continues to work with both issuers and sponsors, including a number of leading investment banks, on complex bond offerings and debut bond issuances. Practice head Peter Schwartz advises both sponsors and issuers on high-value deals, including refinancings and term loans.

McDermott Will & Schulte's high-yield team is led by Priya Taneja, who represents both issuers and borrowers, as well as trustees and security and bond agents. The firm has recently advised trustees, agents, and administrators on major cross-border restructurings in the telecommunications and financial services sectors, involving multi-billion dollar debt reductions, schemes of arrangement, and Chapter 11 proceedings across multiple jurisdictions.