Clifford Chance LLP

Capital Markets Department

UK
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What the team is known for Strong performers on sovereign DCM issuances and high-value IPOs. Benefits from both US and European capabilities, as well as a far-reaching high-yield practice with support from specialists in Hong Kong and New York. Equally at home acting for both issuers and underwriters. Particular expertise in securities laws including Rule 144A offerings, which enables the smooth handling of complex cross-border transactions.

Strengths Clients say that Clifford Chance is "a true full-service firm with excellent geographical coverage and the full range of expertise."

Another source adds: "They are a very capable team that we have high regard for."

Work highlights Acted for The Co-operative Bank in a restructuring of its share capital and subordinated notes. This involved an equity capital raising and a consent solicitation in order to generate GBP700 million of CET1 capital.

Notable practitioners

Adrian Cartwright leads the firm's global capital markets team and advises on a range of sophisticated ECM matters. He often represents leading financial institutions on share issuances and global depository receipts.

David Bickerton returned to full-time practice this year following eight years as the firm's London managing partner. He acts for a range of clients with a focus on DCM.

David Dunnigan has strong experience acting for large corporate and banking clients on both domestic and cross-border DCM work. Clients say he is "very enthusiastic, very commercial and massively experienced."

John Connolly is a well-known ECM practitioner who is praised by clients for being "very thorough in his questions and clear in his explanations."  Hehas significant expertise in offerings involving US securities law and private placements.

Simon Thomas has an extensive international practice advising on a range of high-profile ECM matters including global depositary receipts. Clients say he is "very experienced and hands-on, has very strong technical skills and is commercial."

According to sources, Simon Sinclair is "very experienced" and "willing to give time to clients who need an explanation." He leads the London capital markets team and advises clients on a full range of DCM work.