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 describe the firm as "top-flight" and add: "They are utterly reliable and able to navigate the unprecedented. They are a pleasure to deal with and you feel entirely in safe hands."

Others note that "they are always available at short notice," and praise the lawyers for being "super helpful, very friendly and knowledgeable."

A source praises the "strength in depth at senior level," adding: "I'm happy to use any of the partners because they're all exceptional lawyers."

Work highlights Acted for Barclays as the lead manager in Abbott Laboratories' EUR3.4 billion three-tranche bond issuance.

Advised Libstar on its IPO, including an international offering of shares and listing on the main board of the Johannesburg Stock Exchange.

Represented OCI in its USD1.15 billion senior secured bond issuance and USD1.1 billion senior secured credit facilities.

Notable practitioners

Adrian Cartwright is "always excellent," says an interviewee, explaining that "he keeps his finger on the pulse and is always prepared to roll his sleeves up." He is the firm's global head of capital markets and offers extensive experience in ECM transactions.

David Bickerton wins praise for his impressive DCM practice. "He's excellent: he's very experienced and combines strong technical skills with commercial understanding," notes an interviewee.

David Dunnigan has extensive experience in all matters relating to debt, including the creation of EMTN programmes. He acts for underwriters and issuers, and has particular expertise in Nordic matters.

John Connolly heads the firm's US group and maintains an active ECM practice. He is particularly valued for his expertise in US securities issues.

Simon Thomas enjoys a stellar reputation for his ECM practice, acting for underwriters, issuers and sponsors on a range of transactions. "He's a go-to guy for us," reports a client, explaining that "in terms of his efficiency and technical capability, he's brilliant."

Simon Sinclair is a highly experienced DCM lawyer and is the firm's London head of capital markets. His recent work has seen him assisting clients with EMTN issuances. A client says: "He's excellent. He's very responsive and thoughtful about his advice."