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Shearman & Sterling LLP

599 LEXINGTON AVENUE, NEW YORK, NY 10022-6069, USA
Tel:
Work +1 212 848 4000
Fax:
Fax +1 212 848 7179
Web:
www.shearman.com

David J Beveridge

Tel:
Work +1 212 848 7711
Email:
Shearman & Sterling LLP

Position

Partner

Career

www.shearman.com/dbeveridge/


United States: Finance

Capital markets: debt offerings

Within: Capital markets: debt offerings

Praised for being ‘highly knowledgeable and business-minded’, Shearman & Sterling LLP has a focus on financial services, healthcare, telecoms and mining-related work. Largely based in New York, under the leadership of David Beveridge, the group is also represented in Washington DC, Palo Alto, San Francisco, São Paulo and Toronto. Among its recent issuer highlights, Beveridge advised Electronic Arts on a $1bn offering of senior notes, while Stephen Giove acted for Viacom during its $1.3bn offering of senior notes. However, advice to managers remains the team’s sweet spot and ‘strong performerRobert Evans recently acted as underwriters’ counsel in Lowe’s Companies’ $3.3bn offering of investment grade notes, while Lisa Jacobs advised the underwriters on Ford Motor Credit’s $2.2m offering. Jonathan DeSantis and Merritt Johnson are also recommended. In 2016, Michael Benjamin left for Latham & Watkins LLP.

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Capital markets: equity offerings

Within: Capital markets: equity offerings

Shearman & Sterling LLP’s New York-headquartered practice, which is evenly balanced between manager and issuer work, has a wide industry focus encompassing financial services, healthcare, media, mining and telecoms, with a strong showing in cross-border deals. In a key highlight, Ilir Mujalovic and Jonathan DeSantis advised Bank of America Merrill Lynch as underwriters on the $759m IPO of Valvoline. ‘Rising star’ Merritt Johnson had an impressive year; he acted for Barclays, Credit Suisse and Morgan Stanley as underwriters in AdvancePierre Food’s $390m IPO, and also advised the underwriters on Catalent’s $447m secondary offering. A major headline on the issuer side, Richard Alsop and DeSantis assisted Advanced Disposal Services with its $398.5m IPO. Robert Evans is also recommended. David Beveridge heads an international Americas capital markets group that also has platforms in Washington DC, Palo Alto, San Francisco, São Paulo and Toronto.

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Capital markets: global offerings

Within: Capital markets: global offerings

Shearman & Sterling LLP has a well-integrated network of international offices providing advice to clients on their global debt and equity offerings. Teams in New York, San Francisco, Washington DC and Palo Alto work closely with partners in London, Hong Kong, Singapore, Toronto and São Paulo. The Latin American practice has been particularly busy thanks to low interest rates that have brought several sovereign issuers back to the market. This was demonstrated through the firm’s advice to the global coordinators and joint bookrunners during Argentina’s $16.5bn bond offering, which was the largest offering by an emerging market, and marked Argentina’s return to the capital markets following its sovereign default in 2002. On the issuer side, the firm acted for Panama’s Aeropuerto Internacional de Tocumen in its $575m offering. Key partners include practice group leader David Beveridge, Antonia Stolper, and Stuart Fleischmann and Jason Lehner, who are respectively known for their Mexico and Canada work.

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Capital markets: high-yield debt offerings

Within: Capital markets: high-yield debt offerings

David Beveridge heads a New York-based department at Shearman & Sterling LLP that routinely advises underwriters and corporate issuers on high-yield debt deals, with a particular focus on the financial services, healthcare, media, telecoms and mining industries. Among recent highlights, Richard Alsop and Jonathan DeSantis assisted Advance Disposal Services with its $2.2bn debt refinancing, which included a Rule 144A/Regulation S offering of $425m of senior notes, and Jason Lehner acted for JP Morgan, Goldman Sachs and Bank of America Merrill Lynch, as underwriters’ counsel, in Teck Resources’ $1.2bn offering of high-yield senior notes. Kyungwon Lee relocated to New York from the Hong Kong office in 2016 and acted with Merritt Johnson to advise the joint book-running managers on a $425m offering of senior notes by Cincinnati Bell. Michael Benjamin left to join Latham & Watkins LLP.

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