- United States: Finance > Capital markets: high-yield debt offerings
- United States: M&A/corporate and commercial > M&A: middle-market (sub-$500m)
- United States: Finance > Bank lending (including other sources of financing)
- United States: Finance > Capital markets: debt offerings
- United States: Finance > Capital markets: equity offerings
- United States: Industry focus > Insurance: advice to insurers
- United States: Litigation > Commercial litigation
- United States: Litigation > Securities: shareholder litigation
- United States: Litigation > White-collar criminal defense
United States: Finance
Within Bank lending (including other sources of financing) , Cahill Gordon & Reindel LLP is a second tier firm,
Cahill Gordon & Reindel LLP has established itself as one of the most active firms in the market for lender work, and is often the sponsor’s bank counsel of choice on major leveraged buyouts. 2014 saw a high volume of mandates when compared with some competitors; the firm’s ability to handle this level and scale of work can be attributed to the size and quality of the bench, as well as the reputation of some of its lawyers. James Clark has a first-class reputation as one of the most experienced lawyers in this market, and he is joined by a team of extremely well regarded and active partners, including Jonathan Schaffzin, Corey Wright, Adam Dworkin, Douglas Horowitz, Susanna Suh, Daniel Zubkoff and William Hartnett to name a few. Major transactional highlights include advising JPMorgan Chase Bank, JP Morgan Securities and Wells Fargo Securities as lead arrangers on over $7bn of credit facilities for Burger King’s acquisition of Tim Hortons. Another significant highlight was advising Credit Suisse as lead arranger on Blackstone’s $5.4bn acquisition of Gates Global.
Within Capital markets: debt offerings , Cahill Gordon & Reindel LLP is a third tier firm,
In addition to its renowned high yield debt practice, Cahill Gordon & Reindel LLP is active on the underwriter side in investment-grade debt offerings. Daniel Zubkoff acted alongside Susanna Suh for Deutsche Bank Securities, RBS and the other underwriters on International Paper’s $1.6bn public notes offering, which was comprised of two tranches. In another highlight, William Hartnett and William Miller represented J.P. Morgan Securities as lead book-running managers, as well as the other book-runners, on 21st Century Fox’s $1.2bn notes offering, which included a $600m Rule 144A/Reg S issuance. The practice’s lawyers are all based in New York.
Within Capital markets: equity offerings , Cahill Gordon & Reindel LLP is a third tier firm,
Cahill Gordon & Reindel LLP impresses with the volume of work produced by its underwriter-focused capital markets practice. Highlights included representing the lead underwriters on the $2.375bn IPO by Ally Financial, acting for the underwriters in the $834m Aramark IPO, and advising the joint book-running managers as well as the co-managers on the $536m IPO by VWR Corporation. The firm also acts for a range of banks, including Bank of America Merrill Lynch, RBC Capital Markets, Citigroup and Barclays. William Miller, Douglas Horowitz, James Clark and Jonathan Schaffzin are recommended. All named attorneys are New York based.
Within Capital markets: high-yield debt offerings , Cahill Gordon & Reindel LLP is a first tier firm,
Cahill Gordon & Reindel LLP is a ‘market leader when it comes to advising underwriters on high-yield offerings’. The practice impresses both with the volume of deals handled and with the size of its New York-based team, which has close to 30 active partners. James Clark, Noah Newitz and Timothy Howell represented the joint book-running managers and co-managers on the Rule 144A/Regulation S offering of $2.25bn aggregate principal amount of 6% second lien senior secured notes due 2022 by 1011778 BC Unlimited Liability Company and New Red Finance; the proceeds of the deal were used to finance part of the acquisition of Tim Hortons by Burger King. Jonathan Schaffzin and Stuart Downing acted for Citigroup as lead book-running manager and the other initial purchasers in two offerings, a $1.04bn Rule 144A/Regulation S issue and a €235m issue, by Gates Global. The pair also advised Credit Suisse, as administrative agent and lead arranger, on a series of loans and credit facilities made to Gates Global as part of one of the largest leveraged buyouts of 2014 when The Blackstone Group acquired it for $5.4bn. William Hartnett and Douglas Horowitz are also recommended.
United States: Industry focus
Within Insurance: advice to insurers, Cahill Gordon & Reindel LLP is a second tier firm,
‘Leader in the area’ Cahill Gordon & Reindel LLP ‘is among the best’, placing it as ‘one of the premier law firms in the insurance sphere’. The practice covers a range of litigation and arbitration with expertise in reinsurance, bad faith and political risk. Reinsurance specialist and ‘one of the most talented insurance lawyers’ Edward Krugman, who is ‘exceptionally smart, effective and has outstanding judgment’, continues to represent National Union Fire Insurance in a reinsurance dispute against Everest Re Group relating to an environmental clean-up reimbursement after the latter refused payment; the matter is on appeal following a successful reversal of a Supreme Court ruling in 2010. Krugman, who is based in New York, is also representing Chartis Speciality Insurance Company in a matter relating to alleged losses under a political risk policy. Clients recommend the ‘invaluable’ Thorn Rosenthal, also based in New York, who obtained a dismissal for XL Insurance Limited in an action relating to coverage for Amtrak’s long-tail liabilities, and continues to represent XL Capital Limited in several antitrust class actions. Other clients include AIG affiliates, Ironshore Insurance and reinsurance companies.
United States: Litigation
Within Commercial litigation, Cahill Gordon & Reindel LLP is a second tier firm,
Cahill Gordon & Reindel LLP’s heritage as a premier litigation firm dates back to the 1930s and it maintains a ‘focused and goal-oriented team’ of 150 litigators in New York. ‘Known for trying cases, not pushing paper’, the firm fields ‘lean teams but has enough capacity to handle any matter including huge, first-principle cases’. Charles Gilman has won numerous dismissals for Deutsche Bank in state and federal lawsuits across the US. Floyd Abrams led the defense of McGraw Hill Financial and Standard & Poor’s in dozens of cases relating to its ratings of financial products during the financial crisis. Susan Buckley and Brian Markley represented ABC, Associated Press, CBS, CNN, Fox News and NBCUniversal in actions challenging the constitutionality of state efforts to restrict their exit polling activities on election day. Thomas Kavaler and rising star Landis Best are other names among many highly recommended practitioners.
Within Securities: shareholder litigation, Cahill Gordon & Reindel LLP is a second tier firm,
Cahill Gordon & Reindel LLP is ‘undoubtedly a leader in government enforcement work’, and across the securities litigation space it has ‘talent and ability to focus on client service’. In New York, Herbert Washer, who advised Barclays on a CDS matter, and the newly elected partner David Wishengrad represented Credit Suisse in benchmark rate investigations conducted by the DOJ, the CFTC and foreign regulators. Floyd Abrams, Charles Gilman, Penny Windle, and rising stars Adam Zurofsky and Tammy Roy represent McGraw-Hill Financial in pending investigations by the DOJ, SEC and other regulators, and secured dismissal of a securities fraud complaint for Standard & Poor’s. For Deutsche Bank, Gilman and ‘go-to litigator’ David Januszewski are handling high-frequency trading cases worldwide and secured dismissal of a trust preferred securities matter. The New York office also saw the arrival of Michael Feinberg from Credit Suisse, and the Washington DC office brought in former assistant US Attorney Sean Tonolli to add capacity in the regulatory enforcement space. Enforcement expert Bradley Bondi joined from Cadwalader, Wickersham & Taft LLP in March 2015.
Within White-collar criminal defense , tier 4
Cahill Gordon & Reindel LLP’s wide-ranging client base stretches across the financial services, automotive and retail sectors. Examples of recent work include overseeing Toyota’s compliance with a deferred prosecution agreement agreed with the DOJ following safety violations by the company, and representing the audit committee of Wal-Mart Stores during DOJ and SEC investigations into possible multinational FCPA violations. As well as drawing on Anirudh Bansal’s banking and securities expertise to handle a large amount of major securities and commodities matters, the firm also has a strong track record for developing anti-corruption compliance programs for clients. Compliance expert Bart Friedman and David Kelley are advising Teva in an ongoing compliance review and investigation by the SEC and DOJ into its global compliance with the FCPA. Additional growth for the team has come with the arrival of Washington DC based Sean Tonolli from the US Attorney’s Office for the Eastern District of Virginia, and David Slovick from the CFTC. Named partners are based in New York unless otherwise stated.
United States: M&A/corporate and commercial
Within M&A: middle-market (sub-$500m), Cahill Gordon & Reindel LLP is a first tier firm,
Cahill Gordon & Reindel LLP’s M&A team can call on the firm’s tax, antitrust and real estate groups, in addition to its environmental, IP and employee benefits practices, to ensure smooth deal executions. The team advised 1-800-Flowers.com on its acquisition of Harry & David Holdings, acted for Integro, an international insurance brokerage and risk management firm, on its acquisition of the assets of Daugherty Insurance Services, and also advised Integro on its acquisition of the assets of Lugo & Associates Insurance Services. Other highlights included assisting ICON with its acquisition of Aptiv Solutions, and advising Global Tel*Link on its acquisition of Renovo Software. Recommended partners include Helene Banks, James Clark, William Hartnett, Jonathan Mark, William Miller and Kimberly Petillo-Décossard. Other key practitioners include John Schuster and Michael Sherman. All named individuals are based in the firm’s New York office.
United States: Media, technology and telecoms
Within Telecoms and broadcast: regulatory, Cahill Gordon & Reindel LLP is a third tier firm,
Cahill Gordon & Reindel LLP’s telecoms team is led by Chérie Kiser. Acting for leading telecoms, video and data communications providers, the team handles traditional telephone and cable television matters and also has vast experience of new cutting-edge technologies such as VoIP, TelePresence, and cloud-based services. For key client Birch Communications, the team was active in a number of regulatory and corporate matters; for example, obtaining regulatory approvals for both an increase in debt financing from Bank of America and for the client’s acquisition of Cbeyond, and advice on obtaining eligible telecommunications carrier (ETC) status in various states and at the federal level. Another highlight was advising Universal Service Administrative Company (USAC) on regulatory issues surrounding its administration of the $9bn universal service fund. Also recommended is Angela Collins, an expert in regulatory compliance and litigation.
Within Telecoms and broadcast: transactional, Cahill Gordon & Reindel LLP is a third tier firm,
The key name to note at Cahill Gordon & Reindel LLP is Chérie Kiser, who specializes in the telecoms, video and data communications space, advising major communications and internet companies on strategy. Her team recently acted for Beers Enterprises in a number of transactional matters, including its acquisition of assets of HTN Communications. The firm was instructed by underwriters including Credit Suisse, JP Morgan, Lloyds Securities, Mizuho Securities, and SunTrust Robinson Humphrey in Comcast’s $2bn public offering. Another highlight saw the group advise the initial purchasers on the $400m notes offering by Netflix. Angela Collins is also recommended.
Further information on Cahill Gordon & Reindel LLP
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Offices in London
- Finance : Bank lending (including other sources of financing)
- Finance : Capital markets: debt offerings
- Finance : Capital markets: equity offerings
- Finance : Capital markets: high-yield debt offerings
- Industry focus : Insurance: advice to insurers
- Litigation : Commercial litigation
- Litigation : Securities: shareholder litigation
- Litigation : White-collar criminal defense
- M&A/corporate and commercial : M&A: middle-market (sub-$500m)
- Media, technology and telecoms : Telecoms and broadcast: regulatory
- Media, technology and telecoms : Telecoms and broadcast: transactional