Called upon by a varied client roster of both initial purchasers and underwriters, A&O Shearman deals with complex private placements, SEC registered offerings, and acquisition financing matters. Clients include some prestigious financial services such as BNP Paribas Securities Corp. who are guided through complex senior note issuance. Alejandro Gordano, in New York, is often at the forefront of the practice’s has been at the forefront of ESG capital market deals across Latin America in areas such as SEC-registered and exempt debt and equity offerings. Ryan Robski, who splits his time between New York and Toronto, offers a specialism in multijurisdictional disclosure system (MJDS) for Canadian issuers. Ilir Mujalovic departed the team in February 2026.

Utilising expertise in a cross-border manner, with significant activity across North America and Europe, Baker Botts L.L.P. represents initial purchasers in both secured and unsecured lending matters and a range of acquisitions, and capital markets transactions, often weighted towards the energy sector, covering partial financing for two significant acquisitions and complex upsized private placements, as well as expertise in MLPs and structured equity products. The group regularly advises initial purchasers in a myriad of senior notes offerings. Such clients are often advised by Houston-based Doug Getten, a significant lawyer on the underwriter side in the team, together with Samantha Hale Crispin in Dallas. Elsewhere. Josh Davidson, also in Houston, is a standout practitioner on the underwriter side.

Engaging in large-scale, high-value complex high-yield debt transactions, Cleary Gottlieb Steen & Hamilton is well placed to handle multi-jurisdictional offerings relating to senior secured notes and Rule 144A. The practice can be highlighted for its activity in the oil industry, evidenced by the prominence of oil companies along its client base. Duane McLaughlin, Jorge Juantorena and Manuel Silva are key team members who represent global international issuers and underwriters. Counselling a global client base, the group’s cross-border expertise is epitomised by McLaughlin, who acts in transactions involving Latin America alongside Silva. Aside from this, McLaughlin is also skilled in helping investment grade and leverage borrowers. Adam Brenneman departed from the firm in May 2025. Juantorena focuses on international capital markets and securities regulation, particularly in relation to US securities law. Ilir Mujalovic joined the New York team in February 2026 from A&O Shearman.

Distinguishable by its diverse client base formed by alternative lenders, business development companies and private equity companies, Clifford Chance has both a strong national and global practice which involves a notable presence in São Paulo, Brazil. Gary Brooks and Jonathan Zonis in New York are at the helm and offer clients a great deal of experience in representing both issuers and underwriters of high-yield debt in these jurisdictions. The pair is well supported by Hugo Triaca, also in New York, who specialises in cross-border high-yield transactions, a strength of the group as a whole. More broadly, the team’s core strengths lie in secured lending and private offerings, with demonstrable capabilities in excellence in structured and project finance, particularly in sustainable financing.

Highlighted for its ‘practice depth, client focus, responsiveness, and negotiating skills’, Cravath, Swaine & Moore LLP represents a myriad of corporate issuers, including first-time issuers, as part of a broader client base consisting of large investment banks and other sponsors and underwriters. Such clients are represented in transactions and assisted with related covenant packages, and practitioners can also be noted for senior secured lending on the investor side. On the underwriter side, the group regularly represents initial purchasers in notes offerings, from unsecured subordinated notes to secured notes offerings involving Rule 144A. Located in New York, Craig Arcella, William Fogg and Andrew Pitts lead the group, accessible to a client base of corporations and financial services institutions alike. Arcella is a go-to member of the team for convertible bond offerings, while Douglas Dolan is highly active in the equity financing sphere. Joseph Zavaglia in New York is adept in IPOs and a range of capital markets transactions.

Davis Polk & Wardwell LLP is involved in a high volume of multi-jurisdictional high-yield debt offerings across Asia, the USA and Canada which are often high-value in nature. Members of the team stand out due to a strong knowledge of some regulation which is useful on the issuer side, such as Rule 114A and Regulation S, which US companies often use when issuing securities only to foreign investors. The group is especially skilled in representing purchasers on the underwriter side. New-York based John Meade has a notable specialism in liability management transactions. Practice head Maurice Blanco is called upon for corporate governance advice as an addendum to his strength in capital markets transactions. Michael Kaplan, John Meade and Richard Truesdell are additional significant practitioners and group heads. Kaplan mirrors the group’s wider strength in IPOs, other equity offerings, and convertible and high-yield debt issuance. Marcel Fausten is also adept in initial public offerings and equity offerings. Elsewhere, Shane Tintle counts corporate clients spanning from new, privately held companies to established issuers as key clients. All named practitioners are based in New York.

Sitting within a wider finance capital markets group housing experts from the firm’s finance group, Debevoise & Plimpton LLP‘s capital markets team advises clients such as Morgan Stanley and J.P. Morgan Securities, in addition to other large conglomerates in varying industries. The practice shows particular credentials in SPAC and PIPE transactions on the issuer side, and advises private equity firms and their portfolio companies in every phase of a high-yield transactional life cycle, including restructuring transactions. Paul Rodel and Steven Slutzky in New York, whose practices revolve around securities offerings and related transactions, are at the helm, embodying the wider group focus on managing senior secured notes offerings and adjacent debt tenders. The team is also active in IPOs, offerings of equity, debt, and structured securities,

Dechert represents sovereign issuers and financial sponsors which include investment banks and asset managers in a range of debt offerings and private placements. Practitioners demonstrate strong expertise in cross-border offerings, and such expertise also exists in the context of transactions ranging from joint ventures to bankruptcies. Thomas Friedmann in Boston, who is a common point of contact for alternative asset managers, Stephen Leitzell in Philadelphia and Harry Pangas in Washington DC are at the helm. Clay Douglas, also in Washington DC, is another key name to note for his knowledge of capital raising.

Engaging in the full array of debt and equity capital markets transactions on behalf of both issuers and underwriters, Gibson, Dunn & Crutcher LLP secured lending and representing initial purchasers. Counting large financial services companies with operations globally among standout clients, Doug Rayburn in Dallas and Doug Horowitz in New York are key figures in the team, the latter of whom has a background in corporate governance. The group’s activity spans IPOs and derivative securities, and offerings connected with senior first lien notes and Rule 144A debt proceedings. Issuer side representations includes. The practice has also strengthened its knowledge of Rule 144A/Reg S and registered cross-border transactions with the addition of Michael Saliba in New York from Latham & Watkins in March 2025, who has experience in transactions in a range of jurisdictions globally.

Acting for both issuers and underwriters, the capital markets practice at Hunton Andrews Kurth LLP has vast experience in the real estate sector, and is divided into four sector branches; retail, energy, power and utilities. The group is known for routinely managing capital markets transactions ranging from SEC-registered debt offerings, and representing initial purchasers on offerings under Rule 144A, engaging in global high-yield transactions across jurisdictions such as Canada and Central America. Philip Haines, Peter O’Brien and Robert Smith are the trio leading the team out of Houston, New York, and Richmond respectively. Henry Havre is a key point of contact for security issuers.

Kirkland & Ellis LLP in Washington DC is adept in the full array of high-yield capital markets transactions, chief among which are leveraged buyouts, acquisitions and restructurings whose complexity can be evidenced by convertible senior notes. The practice remains well versed in capital markets transactions, notably in high-yield notes offerings, initial public offerings (including SPAC IPOs), complex acquisition financings and direct investments by private equity sponsors in public companies. Key support to issuers is provided by Joshua Korff in New York, who heads up the team and is experienced in high-yield and acquisition finance. Sophia Hudson in New York, is also adept in all aforementioned areas, including compliance related to such transactions, and especially in convertible debt offerings. As a group, other offerings, including tender offers and convertible debt offerings and debt refinancing.

Advising major investment banks such as JP Morgan as sponsors, Latham & Watkins is adept in forming agreements for a high volume of high-yield offerings and bridge financings. The group deals with unsecured and secured lending from both an issuer and an underwriter standpoint. Global Chair of the capital markets and public company representation practices Stelios Saffos, Ian Schuman and John Sobolewski in New York are the trio at the helm, the latter of whom joined from Wachtell, Lipton, Rosen & Katz in February 2025 as global vice chair, whereas Saffos is a strong option for complex structured equity and mezzanine financings. More widely, the group is at the forefront of the development of high-yield financing transactions, leveraged on both the underwriter and issuer side for both private equity and venture capital funds, and involving themselves in complex IPOs, convertible notes offerings, and traditional loan and bond structures. Marc Jaffe in New York has a strong background in IPOs and high-yield transactions.

Turned to by underwriter and issuer clients alike, Mayer Brown provides advice on a wide range of investment products, from private investment to stocks, equity-linked and debt securities, and funds. Referred to as ‘highly skilled, intelligent, and well-versed on current trends’, New-York based securities law expert Anna Pinedo leads the practice, focusing primarily on equity-linked and debt securities. Ryan Castillo, also in New York counts investment banks as core clients. The team routinely handles cross-border senior secured notes offerings and repurchasings. The practice has seen an uptick in convertible bond issuance, a domain of strength for practitioners, alongside exchange offers and tender offers.

Distinct in its sector breadth, Milbank demonstrates a balance of advice to issuers and underwriters on SEC compliance measures, high-yield debt offerings, and IPOs. The group involves itself in matters involving first and second lien debt and 144A offerings, sector breadth and both unsecured and secured lending. Lauded for his dealmaking skills, Jonathon Jackson heads up the team and adds experience in corporate governance and hybrid capital issues. Elsewhere, Brett Nadritch is adept in high yield, investment grade and structured finance transactions, and Rod Miller couples strong securities knowledge with a history of representing investment banks in M&A financings. All mentioned practitioners are located in New York, and the group operates alongside a strong Latin American capital markets practice at the firm.

Described as ‘a very strong team for advising private equity sponsors’, Paul, Weiss, Rifkind, Wharton & Garrison LLP‘s broad client base extends to investment and asset management clients across both private and public offerings. Indeed, private equity is the predominant domain of Gregory Ezring, who counts private equity funds as key clients. Additionally, bond offering expertise is at the forefront of the group’s focus. Advice to portfolio companies and advice on equity, debt and convertible offerings is coupled with advice on IPOs and follow-on offerings, and team members showcase a strength in senior unsecured lending involving clients in a range of sectors. Eric Wedel, who splits his time between Los Angeles and New York, leads the team alongside Ezring, Brian Janson, a key leveraged finance practitioner in the team, and John Kennedy. The quartet is located in New York.

Sidley Austin LLP is frequently engaged in issuer side representation, including private equity, on the issuance of a range of notes. Secured second lien notes. The team is turned to by REITS, financial institutions and finance companies, indicative of some of the sectors in which the wider group operates. Seasoned capital markets lawyer Michael Heinz in New York can be highlighted for his engagement in all types of public and private securities transactions, including high-yield and investment grade debt securities. Natalie Karam in Century City is also a key name to note.

Simpson Thacher & Bartlett LLP fields a large capital markets team whose strength lies in the breadth of its practice area expertise. The group is able to act in both structured finance and mezzanine finance, as well as tangential corporate matters such as corporate governance advice and refinancings on both the issuer and underwriter side. Joshua Ford Bonnie, Roxane Reardon and Kenneth Wallach head up the team out of Washington DC, New York and New York respectively. The trio, which focuses on high yield debt financings and a variety of corporate finance transactions. A knowledge of securities law and regulation to add to the high yield offering knowledge. An additional distinguishing factor in the group is the specialism of its individual lawyers, such as Hui Lin, in Rule 144A and Regulation S offerings, investment grade and high yield debt offerings. Elsewhere, David Azarkh displays competence in covenant terms and disclosure matters connected with capital markets transactions.

Considering investment bank consortiums and international issuers as key clients, Skadden, Arps, Slate, Meagher & Flom LLP is a regular participant in debt capital markets transactions, and is especially active in Rule 144A/Regulation S high-yield offering of senior secured notes. The group also has a strength in first-of-their-kind, dual listing, and cross-border transactions on both the issuer and underwriter side. Ryan Dzierniejko is at the helm and is often at the forefront of the team’s advice on venture capital financings and IPOs. Another other key team members is Laura Kaufmann, who is a key pillar of the group’s issuer-side work, given that she is co-head of the firm’s U.S. financial sponsor capital markets practice. Gregory Fernicola  routinely handles private and public equity and debt financings, as well as acting as a go-to practitioner for clients requiring advice on securiteis law matters. Elsewhere, Laura A. Kaufmann is also key on the sponsor side, called upon by financial sponsors regularly, often asset managers, private equity firms or family offices, while Michael Schwartz is particularly strong in the biotechnology, fintech, insurance, real estate and energy sectors. All named practitioners are based in New York.

Distinguished by its sector breadth, Vinson & Elkins LLP, whose practitioners mainly operate out of the firm’s Houston office, hosts a practice well versed in representing both issuers and underwriters. Operating across agriculture, energy, real estate, renewables, financial services, and telecommunications, companies often have international operations, practitioners in the group engages in high-yield Rule 144A notes offerings, high-yield debt and inaugural securities offerings. One such practitioner who divides her time between Denver and Houston, Sarah Morgan, is a strong point of contact for complex IPOs and private placements of debt and equity securities, and counts oil and gas companies as key clients. Morgan co-heads the practice with David Stone in Houston. Lauded for its ‘incredible deal flow’ of high-yield transactions, the group engages in both public and private offerings of a range of debt securities and ancillary transactions.

Weil, Gotshal & Manges LLP displays a strong foundation in issuer side assistance representing the initial purchases, but also represents clients on the underwriter side on all types of debt transactions, often cross-border in nature. Alexander Lynch and Michael Hickey lead a team with demonstrable experience in all types of public and private debt transactions, including investment grade debt, private placements and exchange offers. The group’s breadth of knowledge in evidenced by its zero coupon senior secured lending experience. Finally, Heather Emmel is an expert in mezzanine debt issues and securities offerings, while Merritt Johnson is a standout name in the team for matters in the healthcare, mining and metals, oil and gas, media and telecommunications industries. All named practitioners are based in New York.

Demonstrating a strong balance of issuer-side and underwriter-side activity, White & Case LLP is prolific in senior secured note issuance, especially those involving initial purchasers. Gary Kashar, the firm’s regional section head of Americas capital markets, leads a group whose operations are not limited to a regional presence, but a national and global presence due to its large network. Kashar is well supported by Jonathan Michels, Rafael Roberti and Andrew Weisberg, other key lawyers in the group who regularly handle high-yield debt offerings, structured debt financings and liability management transactions, belying the major strengths of the practice at large, as well as its forte in repayments and refinancing mandates. With financial services companies such as investment banks among a varied client roster, the group acts for such companies investing in a range of sectors, notable the energy sector. All named practitioners are based in New York.

Benefitting from a large, nationwide office presence, Willkie Farr & Gallagher LLP handles a range of large-scale IPOs, investment grade, and Rule 144A offerings. Gregory Astrachan in New York, Edward Best, who works out of both Chicago and New York and Cristopher Greer in New York lead a team whose capacity to deal with private equity sponsors at every stage of a transaction stands out. Indeed, team members are a popular point of contact for foreign issuers in capital-raising transactions and pre-capitalized securities (P-Caps) transactions on the sponsor side, but also the underwriter side. John Ablan is adept in securities law and acts in a range of domestic and cross-border high-yield capital markets transactions.