Chambers USA's Capital Markets: Debt & Equity rankings provide a comprehensive assessment of the full range of firms and lawyers handling the largest and most complex securities offerings across the United States.
This practice area is divided into a number of ranking tables to represent the variety of work being undertaken. We have five different categories for law firms, who are ranked in separate tables based on their work with issuers and managers in investment-grade debt and equity transactions, as well as high-yield offerings. Ranked firms will have a proven track record of advising corporate clients and/or banks on major bond issuances and equity transactions, such as IPOs and secondary offerings.
Attorneys are ranked in three regional Debt & Equity tables for Eastern, Central and Western United States, depending on where they are based.
Latham & Watkins, Simpson Thacher and Davis Polk continue to stand out as market leaders for the full range of debt and equity offerings, whereas Cahill Gordon & Reindel's strong relationships with major institutional lenders sees them stand out for their expertise in transactions involving High-Yield debt. The tables also contain West Coast heavyweights Cooley and Wilson Sonsini, who rank highly for their proficiency in high-value equity offerings.
2020 has proven to be a challenging year for many capital markets lawyers, with equity offerings particularly affected by the COVID-19 pandemic and events such as the drop in oil price, although debt lawyers are seeing a healthy amount of activity. Furthermore, SPACs have been shown to be a hugely popular alternative for many companies and banks.