Latham & Watkins LLP

Capital Markets: Debt & Equity Department

USA - Nationwide
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What the team is known for Able to offer coast-to-coast expertise on the full range of capital markets matters, with particular skill in handling high-yield offerings. Regularly sought by managers for counsel on a variety of debt and equity transactions. Also possesses significant experience advising issuers from a variety of industries on securities deals.

Strengths One client enthuses: "Latham is a great firm. They are very well versed in the latest and greatest terms in the market. They have good cross-border expertise as well. They have a very deep bench, lots of deal experience and provide exceptional customer service."

Another interviewee attests: "They're exceptionally good - their capabilities from a bench strength perspective and individual competencies are exceptionally strong. They're top of my list of strategic advisers."

"The team is incredibly experienced and conveys issues very well," market commentators report.

Clients say: "They provide first-class assistance. They have broad and deep expertise," while another praises the team's "very good judgment."

"They are highly adaptable and look to help find solutions rather than simply identifying issues," remarks another market commentator, with other sources highlighting the team's "excellent depth across functions and solid coordination between groups."

Work highlights Advised Novolex, a portfolio company of The Carlyle Group, in its private placement of 7.875% senior notes with a value of $500 million.

Acted for Spotify in its direct listing on the New York Stock Exchange. The flotation was the largest direct listing on record, which valued the company at $26.5 billion following its first day of trading.

Represented Teladoc in its issuance of 1.375% convertible senior notes valued at over $287 million.

Notable practitioners

Cheston Larson is renowned in the market for his expertise in the life sciences and technology sectors. He is routinely chosen by clients for guidance through IPOs and a wide variety of significant debt offerings.

Greg Rodgers is best known for his work on debt securities offerings. His extensive expertise in capital markets encompasses investment-grade and high-yield note issuances as well as equity-linked securities.

The "outstanding" Ian Schuman attracts praise for his handling of a broad range of securities offerings, including IPOs, high-yield debt offerings, and tender exchange offers. Clients state that "his commercial sense and the broad applicability of his knowledge of high-yield, indentures and securities is unparalleled."

Michael Chambers retains an excellent reputation for advising on IPOs and public and private high-yield bond offerings. His sector expertise covers oil and gas, among others.

Marc Jaffe is "top notch," according to one impressed client. He maintains an excellent reputation for his work across the entire spectrum of capital markets transactions, and is particularly well known for his expertise in IPOs.

Michael Benjamin is well regarded for his work on high-yield and investment-grade debt securities offerings, with additional expertise in liability management issues. One impressed client describes him as "exceptionally strong" and continues: "He's an incredible relationship guy. He understands what we need and when we need it."

Nathan Ajiashvili is a "terrific junior partner" who enters the rankings for the first time after garnering extensive praise for his capital markets practice. He handles both equity and debt offerings as well as high-yield transactions, and has notable experience acting for clients in the life sciences industry. Impressed market sources describe him as "very client-friendly, dependable, thoughtful and thorough."

Key partner Ryan Maierson is "a great lawyer who I love to work with," according to one source. He handles a range of capital market transactions on behalf of clients in the energy industry.

The "fantastic" Senet Bischoff is recognized for his extensive experience handling high-yield and investment-grade debt note issuances as well as IPOs and other equity offerings. His expertise also encompasses leveraged buyouts and tender and exchange offers.

Shayne Kennedy attracts ample praise for his capital markets practice. He is routinely sought to represent companies from the life sciences and healthcare industries. One source states: "Shayne typifies everything I like about a lawyer; he's super prepared, and he suggests edits and changes to make the documents better. Not only does he play the part of the lawyer on the technical aspects of what we can and can't do, he's a value-add from a business perspective."

Steven Stokdyk has extensive experience of capital markets work in the technology, healthcare and financial services sectors. He advises clients on the full range of debt and equity public offerings, including YogaWorks' recent IPO.

William Finnegan is a leading capital markets attorney who represents a range of issuer and underwriter clients. He works on the full range of public and private debt and equity offerings.