Equally skilled in debt and equity work, the team at Blake, Cassels & Graydon LLP handles the full range of public and private offerings, including IPOs, rights issues, investment grade debt matters and high-yield bond offerings. The firm has first-class financial services and corporate practices, ensuring a steady stream of headline transactions for both issuers and underwriters. It is also recognized for its expertise in regulatory matters. In Toronto, Tim Andison recently advised the underwriters on Air Canada’s public offering of C$500m of voting shares and private placement of $650m of convertible senior notes. Other key names in Toronto include M&A and corporate finance specialist Jeffrey Lloyd, national group lead Eric Moncik, and Chris Hewat, who has a strong record in biotech and technology-related issuances. Associate Joseph Zed is also an emerging talent in Toronto. Formerly based in Calgary, Ross Bentley now manages the London office and splits his time between London and Calgary; he is recognized for his experience of the energy, infrastructure and transport sectors. Calgary-based up-and-coming partner Jeff Bakker is another name to note for energy-related work.

McCarthy Tétrault’s capital markets team is complemented by the firm's top-tier banking and finance practice and strong institutional bank relationships. As such, the group has been called 'the strongest practice on the street' when it comes to underwriter-side work; though the team also routinely advises corporate and financial services clients as issuers on public and private offerings. The team is well versed in both debt and equity deals, but is differentiated in part by the strength of its structured finance practice, where is is routinely involved in high-profile debt transactions, including covered bonds and maple bonds. Contacts in Toronto include national capital markets co-head Andrew Parker, who has an impressive record in debt and equity offerings, and Marc MacMullin, who heads the financial services group and is a favourite with banks to assist with their structured finance, asset-backed securities and covered bond transactions. A recent highlight for MacMullin involved advising HSBC Bank Canada on its $1bn covered bond issuance. Other recommended names in Toronto are structured finance co-head Dean Masse; Jo-Anna Brimmer, who focuses on securitization, covered bonds and debt capital markets; and ‘stand-out associate’ Christopher Bamford. In Montréal, capital markets co-head Patrick Boucher is highly regarded for his combination of securities and corporate expertise, and recently advised the National Bank of Canada, as issuer, on the renewal of its $10bn euro note programme.

A popular choice for prolific issuers, Torys’ stellar institutional relationships supply a steady stream of debt and equity mandates, with Brookfield and Fairfax Financial among its most high-profile repeat clients. On the underwriter side, the group regularly acts for leading Canadian and US investment banks. International work is another significant differentiator. Indeed, the team is consistently involved in multi-jurisdictional offerings, particularly deals with a US dimension where it can utilize its well-staffed New York office. Glen Johnson provides comprehensive advice on securities regulation and corporate finance matters. David Seville handles a mix of debt and equity transactions, with complementary expertise in private equity and regulatory finance issues. Michael Feldman is noted for his experience in debt capital markets, with a focus on structured finance and securitizations. Rima Ramchandani is recommended for her growing profile in cross-border capital markets deals; she recently paired up with Calgary-based corporate finance partner Janan Paskaran to advise Sundial Growers on its $143m cross-border IPO and listing on the Nasdaq. Also in Calgary, Scott Cochlan co-leads the national practice together with Seville and Ramchandani and advises issuers and underwriters on a range of domestic and cross-border offerings. Named lawyers are based in Toronto, unless otherwise stated.

Best known for its prowess in the mining industry, Fasken’s capital markets group is also increasingly active in the areas of technology and private equity. The firm is hailed by clients for its 'integrated approach across offices and jurisdictions'. It routinely handles large-scale debt and equity deals, for both managers and issuers, from its network of offices across the country. Further, its London and Johannesburg platforms provide significant support in cross-border matters. In Toronto, global mining head John Turner is recognized for his expertise in resource-related transactions; he advised the special committee of independent directors of Katanga Mining on Katanga’s C$7.6bn rights offering, which represented the largest-ever rights offering in Canada. Calgary-based Sarah Gingrich is recommended for her experience in both debt and equity matters. In Montréal, Jean-Pierre Chamberlain advises companies and investment banks on capital market and private financing transactions. Vancouver’s Blair Horn is noted for his emphasis on the technology, agribusiness and food and beverage sectors.

Norton Rose Fulbright’s full-service corporate finance and securities practice handles a variety of capital markets transactions from its bases in Alberta, British Columbia, Ontario and Quebec. The team advises both issuers and underwriters on debt and equity deals and is noted for being among the few Canadian firms with a dedicated covered bonds practice. Its extensive international network is another important differentiator, and, indeed, the team consistently works alongside other offices throughout its network to advise on cross-border mandates. In Calgary, department co-head Kirsty Sklar had a busy year in energy-related transactions. Calgary-based Marcus Archer is also recommended for energy offerings. Elliot Shapiro co-chairs the practice from Montréal and has a solid record in cross-border deals. Toronto-based co-lead Andrea Brewer advises on all aspects of securities law and related governance issues.

Dentons is recognized by its strengths in the technology, cannabis and energy sectors, where it is most active for issuer-side clients. The wider firm’s extensive international network also sets the group apart, and, indeed, the capital markets group routinely teams up with colleagues internationally to advise on cross-border debt and equity offerings. Bill Gilliland in Calgary is recommended for natural resources-related transactions; Montreal-based corporate head Charles Spector has a broad practice that spans both debt and equity offerings; and Eric Foster in Toronto is noted for his focus on corporate finance matters in the cannabis space.