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Shearman & Sterling LLP

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Stuart K Fleischmann

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Shearman & Sterling LLP

Work Department

Capital Markets


Stuart K. Fleischmann is a senior partner in the firm’s Capital Markets group and spends time in both the New York and Sao Paulo offices focusing principally on debt and equity offerings by Latin American companies, sovereign nations and quasi-governmental entities.
He regularly represents underwriters and issuers, primarily in the oil and gas, steel, telephone, electricity and financial institution industries, on a wide range of SEC registered, 144A/Regulation S and private placements of debt and equity securities. Mr. Fleischmann is also regularly involved in such novel transactions as toll road financings and securitizations involving credit cards, residential mortgages, international oil payments, money transfers and electronic remittances, loan pools, auto and farm equipment loans and leases and franchise revenues.
According to Chambers Latin America wide 2017 Edition – clients describe Mr. Fleischmann as "highly committed, and willing to resolve any problem in the shortest time possible” and “an excellent lawyer, very good and client-oriented".

Latin America: International firms

Capital markets

Within: Capital markets

Shearman & Sterling LLP has made an excellent impression in Argentina and has been at the forefront of capital markets transactions emanating from the country’s economic reforms. It has ‘really gone a great job of staying in touch with everybody there, being visible and showing its market expertise’. The firm advised the global coordinators and joint bookrunners on Argentina’s historic $16.5bn bond offering, the largest-ever bond issuance by an emerging market country. The transaction was especially historic given Argentina’s long absence from the capital markets due to on-going litigation linked to its sovereign default in 2002. It used part of the proceeds from the bond sale to repay holdout creditors that had not participated in previous restructurings. Beyond Argentina, the firm advised Aeropuerto Internacional de Tocumen, a Panamanian government-owned operator of the country’s principal international airport, on its $575m debt offering. Other clients include Banco BTG Pactual, BNDES, Banco Santander Brasil, Corpbanca, Ecopetrol, FIBRA Prologis, Pemex and Terrafina. Other than Argentina’s landmark bond offering, the firm has a long record in the sovereign debt space, including for the Republic of Chile, Republic of El Salvador and Republic of Uruguay. Head of the Latin America group Antonia Stolper is a real ‘senior stateswoman’; ‘in the market for a long time’, she ‘has done particularly well in Argentina’, has a formidable reputation across multiple jurisdictions and has worked on many of the headline deals in the region, including the previously mentioned sovereign bond offering by Argentina. Stuart Fleischmann is highly regarded by numerous underwriters and has an established record in Brazil and Mexico. Manuel Orillac is an experienced capital markets specialist with a strong focus on Latin America; São Paulo partner Robert Ellison has an impressive record in deals involving Brazilian issuers; and counsel Alejandro Gordano joined the New York office from Credit Suisse to reinforce the senior ranks. All named individuals are New York-based unless stated otherwise.

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United States: Finance

Capital markets: global offerings

Within: Capital markets: global offerings

Responsive, practical and knowledgeableShearman & Sterling LLP is distinguished by its ‘very commercial lawyers’ and its ‘great ability to work seamlessly as part of a global team’. The firm houses a prolific capital markets practice that handles an impressive volume of global deals - for both managers and issuers - with its debt work standing out as particularly high-profile. New York-based Antonia Stolper heads the Latin America affinity group and played key roles in several of the firm’s recent headline deals in that region, including advising the initial purchasers and the international purchasers on the Province of Buenos Aires’ ARS$15.1bn global bond offering. Canadian work is also a sweet spot and Jason Lehner, who splits his time between New York and Toronto, advised the underwriters on Canadian Natural Resources’ $3bn investment grade debt offering - he also assisted the Province of Ontario with its $2.5bn global bond offering. On the equity side Stuart Fleischmann, who divides his time between the New York and Sao Paulo offices, assisted Brazil airline Azul with its $644.2m IPO.

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