Our global High Yield Practice offers a balanced mix of issuer and underwriter representations. We are a market leader and advise on the most complex, cutting-edge high yield transactions and craft commercial, and often novel, solutions to help our clients achieve their goals.
Issuer’s Counsel
We are the premier issuer-side high yield firm in the world, having been ranked among the top two firms advising the issuers on U.S. high yield offerings for 10 of the past 15 years, according to Bloomberg. Issuers and sponsors value our rigorous, but practical, approach. Combining our deep understanding of the market with our hands-on style, we present our clients to the market in a balanced manner that allows them to advance their business objectives with market-clearing covenants.
Underwriters’ Counsel
We are a global leader with one of the leading market shares in high yield debt financing for investment banks, benefitting from our long and rich tradition in the securities and bank markets. We bring a creative, commercial approach to protecting investors in covenant negotiations, while collaborating with issuers and their counsel to craft covenants that work for their businesses. Clients appreciate that we partner with our banking practice in bank and bond executions, combining our leading experience in both areas.
435+
More
than 435 high yield
offerings for issuers and underwriters since 2019,
totaling more than $340 billion in proceeds
(LSEG)
High Yield Representations
| HCA |
Over $35 billion |
First Data
|
Over $19 billion |
| Hilton Worldwide Holdings |
Over $11 billion |
| Hub International |
Over $8 billion |
Medline (Mozart Holdings)
|
Over $8 billion
|
| Carvana (manager’s counsel) |
$5.725 billion |
| Tesoro Logistics |
Over $5.4 billion |
| Hovnanian |
Over $5 billion |
| Mr. Cooper Group |
Over $3.7 billion |
| NGL Energy Partners (manager’s counsel) |
$3.5 billion |
| Mineral Resources (manager’s counsel) |
Over $3 billion |
| UKG |
$2.5 billion |
Top 2
Global Bonds, representing the manager (by value), each of the past 10 years
(LSEG)
Tier 1
Tier 1 Ranking in
U.S. Capital Markets: High-Yield Debt
Offerings – Advice to Issuers
(The Legal
500 U.S. 2007 – 2024)