Capital markets: global offerings in United States

Arnold & Porter

Arnold & Porter is a highly rated for sovereign, sub-sovereign and state-owned entity (SOE) offerings in Latin America, Hungary, Turkey and other jurisdictions. Clients include the Republic of Colombia, Republic of Panama, Republic of Turkey and Hungary. In 2021, the team continued to advise Colombia and Panama on significant bond offerings, along with key transactions for the Republic of Turkey and Empresa Nacional de Autopista, the Panamanian toll road operator. Washington DC partners Whitney Debevoise  and Gregory Harrington  are co-heads of the sovereign finance team with decades of experience in sovereign offerings from Latin America; Debevoise also previously served as US Executive Director of the World Bank. Washington DC counsel Carlos Pelaez provides further senior-level experience in Latin America sovereign offerings. New York’s Christopher Peterson is another prominent name in sovereign finance.

Practice head(s):

Whitney Debevoise; Gregory Harrington

Other key lawyers:

Carlos Pelaez; Christopher Peterson

Work highlights

    Cleary Gottlieb Steen & Hamilton

    Cleary Gottlieb Steen & Hamilton  has an illustrious record in global offerings, especially those originating from Latin America, in particular Mexico and Brazil.  The firm routinely advises a range of issuers, sponsors and investment banks; this includes a number of sovereign and non-sovereign issuers in Latin America, Africa, Europe, Asia and the Middle East. Its team features a number of senior professionals who have completed stints at key US regulators, making it especially well-equipped to advise foreign issuers looking to access the US capital markets. The firm has also achieved further prominence in green bonds and sustainability-linked finance, most notably for issuers in Latin America. Jeffrey Karpf has a long history with big-name corporate issuers, including in the sustainability-linked finance segment. David Lopez is a leading name in liability management and Jorge Juantorena has an extensive record in Mexico-originating transactions, including a series of recent green bonds and sustainability-linked financings. Francesca Odell is close to a number of major issuers in Latin America, including Petrobras and others. Lillian Tsu, a securities lawyer and expert in SEC disclosure and corporate governance, joined the firm from Hogan Lovells US LLP in 2021.

    Other key lawyers:

    Jeffrey Karpf; David Lopez; Jorge Juantorena; Francesca Odell; Adam Fleisher; Nicolas Grabar

    Testimonials

    ‘Cleary stands out for being extremely hands-on and creative on the projects in which we have collaborated. In my personal experience, Cleary has always made debt offering processes run as smooth as possible, anticipating potential issues (and providing solutions) long before those potential issues become bottlenecks to a process.’

    ‘Partners at Cleary are true subject-matter experts, and clear references of knowledge in the market. In addition to that, partners are very hands-on, actively participating and leading all aspects of a debt offering process. In my experience, what has really set Cleary (and its partners) apart from competitors is the ability to anticipate potential issues and break-down such potential issues to provide tailor-made, differentiated and innovative solutions. In other words, Cleary’s partners really strive to give clients the “right” answer, instead of the “boiler plate” answer.’

    ‘The Cleary team we work with is unique, they are experts in the field, they render service with excellence and timely fashioned and create great bonding with clients to make all steps of the deal smooth.’

    ‘Nicolas Grabar is principal partner at Cleary and he is involved in every detail of the transaction and that is something different from competitors. Same case with Francesca Odell.’

    ‘Exceptional legal knowledge, experience and responsiveness on the part of Jeff Karpf and David Lopez.’

    Key clients

    Verizon

    Petrobras

    Ontario Teachers’ Finance Trust

    Orbia

    GlobalFoundries

    BNDES

    Blackstone

    Andean Telecom Partners

    Unifin

    Banco Davivienda

    CAP S.A.

    MercadoLibre

    PEMEX

    CEMEZ

    Grupo Axo

    Mega

    Auna

    Work highlights

    • Represented Petrobras in multiple offerings with an aggregate value of $15bn, including a five-day abbreviated tender offer.
    • Represented Verizon in multiple offerings related to strategically important matters, including a bond sale with a final aggregate value of $31bn to finance its 5G Spectrum expansion.
    • Represented GlobalFoundries in its $2.59bn IPO.

    Clifford Chance

    Clifford Chance has an impressive mix of equity and debt offerings involving US and non-US issuers. This includes IPOs, equity offerings, investment grade and high-yield debt, covered bonds, project bonds and other transactions. The firm has gained further recognition for ESG and sustainability-linked offerings, including green and social bonds. Much of its global offering practice is centred on Latin America, where it represents a long list of issuers, including sovereigns and quasi-sovereigns such as the Republic of Guatemala and BNDES. Jonathan Zonis  leads the Latin America team and is the former co-head of the Americas capital markets group; he has worked extensively throughout the Latin America region, particularly focusing on Brazil, where the firm has a substantial Sao Paulo team, and helping to develop the firm’s standing in sovereign debt. Hugo Triaca  has also made a considerable impact on the practice, adding connections and experience in multiple Spanish-speaking jurisdictions. Per Chilstrom  has left the team to join Fenwick & West LLP.

    Practice head(s):

    Jonathan Zonis

    Other key lawyers:

    Hugo Triaca; Andrés Berry

    Testimonials

    ‘Highly capable and commited professionals. Very responsive and always willing to put in the extra mile. Their service is worth every penny.’

    ‘Hugo Triaca and Andrés Berry are both very committed. They will do everything within their power to ensure the best results possible.’

    ‘Clifford Chance’s team is highly qualified, demonstrates great experience, knowledge and skill in all the consultancies it provides, in a timely manner and at a reasonable price.’

    ‘The partner, Hugo Triaca, is a highly competent, intelligent person, 100% committed to the successful development of the transaction. His vision and deep knowledge of the client, facilitates the advice, making the processes adjust to the realities of the company and be more efficient. Hugo Triaca has vast experience in capital markets, which differentiates him from his competitors, due to the great knowledge he possesses, always at the forefront. ’

    ‘Clifford Chance’s capital markets team delivers premium legal services. I have the opportunity to team-up with them regularly in cross-border bond offering, both corporate and sovereign, and their performance is always stellar. They are a great choice for high-end, complex transactions.’

    ‘Hugo Triaca is a superstar lawyer. Super hands-on, super solid and creative. He knows how to get deals done.’

    ‘Very hands on team. Partner fully involved. Fully bilingual which simplifies interaction with Latin American clients. They understand the communication limitations which certain Latin American clients may face and act as a bridge in order to enable investment banks to understand the questions and concerns of the clients.’

    ‘Very good interacting with issuers which are governments and state-owned companies.’

     

    Key clients

    AES Panama

    Republic of Guatemala

    Eletrobras

    Empresas Públicas de Medellín E.S.P.

    BNDES

    Banco Latinoamericano de Comercio Exterior, S.A.

    Compañía Latinoamericana de Infraestructura y Servicios S.A.

    Corporación Financiera de Desarrollo S.A.

    Goldman Sachs

    CMI Energía

    Work highlights

    • Advised on a number of sovereign and sub-sovereign debt restructurings in Argentina, including the ad hoc bondholder group with respect to the debt restructuring of 6.75% notes due 2021 by YPF Sociedad Anónima (YPF).
    • Advised BofA Securities on a new two-tranche notes offering by the Republic of Guatemala.
    • Advised the underwriters on Genetron Holdings’ $256m SEC-registered IPO on Nasdaq.

    Cooley LLP

    Cooley LLP has an impressive record in representing issuers from Europe and Asia in their US offerings. Many of its clients are in the life sciences and tech sectors. It has worked on a series of Nasdaq IPOs for dual-listed European life sciences companies and has advised a number of Chinese issuers on their US offerings. In addition, it represented South Korean e-commerce giant Coupang  on its $4.55bn NYSE IPO. San Diego partner Charlie Kim is co-chair of the capital markets team alongside Dave Peinsipp in San Francisco, while Palo Alto’s Eric Jensen  and Boston partner Richard Segal are also prominent names in global offerings, along with Div Gupta and Eric Blanchard in New York.

    Practice head(s):

    Charlie Kim; Dave Peinsipp

    Key clients

    21Vianet Group, Inc.

    Ambrx Biopharma, Inc.

    Coupang

    Exscientia Plc

    Gracell Biotechnologies Inc.

    Immunocore Limited

    LAVA Therapeutics B.V.

    Molecular Partners

    SimilarWeb

    Valneva SE

    VectivBio Holding AG

    Cowen and Company LLC

    Credit Suisse Securities (USA) LLC

    Goldman Sachs & Co. LLC

    J.P. Morgan Securities LLC

    Morgan Stanley & Co.

    Work highlights

    • Advised South Korean e-commerce giant Coupang on its $4.55bn billion NYSE IPO, the largest Wall Street debut by a foreign company in seven years.
    • Advised the underwriters on the $555m Nasdaq IPO of Canadian biotech company AbCellera.
    • Advised 21Vianet, a Nasdaq-listed internet company based in Beijing, on its offering of $525m in aggregate principal amount of convertible senior notes due 2026.

    Cravath, Swaine & Moore LLP

    Cravath, Swaine & Moore LLP has a hugely impressive client base of international issuers, despite it having just two offices, in New York and London; the firm has a large team of US lawyers in the UK capital. Along with an extensive list of corporate issuer clients, it has also landed engagements from a number of sovereign and supranational entities. Amongst a number of headline deals, it advised AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in their $21bn registered fixed and floating rate senior notes offering and their $1bn registered senior notes offering. Craig Arcella is co-head of the finance practice and has an outstanding record in investment grade, high‑yield and convertible bond offerings, along with IPOs for international issuers. David Mercado  is another experienced figure in global offerings, especially for European and Latin American issuers; he previously completed a long stint in London. Andrew PittsNicholas Dorsey  and Scott Bennett are also key names. 

    Practice head(s):

    Stephen Burns; William Fogg; Craig Arcella; Andrew Pitts

    Other key lawyers:

    David Mercado; Scott Bennett

    Key clients

    AerCap

    Burford

    Element Fleet

    Ferroglobe

    GasLog

    Nestlé

    Prosus

    Work highlights

    • Represented the managers, distributors or underwriters (led by Credit Suisse) in five note takedowns or offerings totalling $12.5bn of Credit Suisse Group AG or its wholly owned subsidiary Credit Suisse AG.
    • Represented the underwriters in the $858.3m IPO of On Holding.
    • Represented AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in two notes offerings totalling $22bn.

    Davis Polk & Wardwell LLP

    Davis Polk & Wardwell LLP is at the forefront of global offerings, successfully earning market share in Asian, European, Latin American and North American markets. The firm is major player in IPOs, investment grade and high-yield debt, amongst other capital markets offerings. The US-based team routinely advises on deals involving European, Israeli, Canadian and Latin American issuers. In addition, the firm’s Sao Paulo office has captured much of the surge in US IPOs and other capital markets offerings by Brazilian entities; Manuel Garciadiaz  and Maurice Blanco split their time between Sao Paulo and New York and are also active in transactions originating from across the Latin America region.

    Other key lawyers:

    Manuel Garciadiaz; Maurice Blanco; Nicholas Kronfeld; Richard Truesdell; Byron Rooney

    Work highlights

      Debevoise & Plimpton LLP

      Debevoise & Plimpton LLP is best known for global offerings by financial services and insurance businesses. The New York-based team has an impressive record in SEC-registered and 144A/Reg S offerings for foreign issuers and continues to develop its reputation internationally. Matthew Kaplan  and Steven Slutzky  lead the department, both having strong connections to financial services issuers around the world. Peter Loughran  and Paul Rodel  are also key names, along with Eric Juergens. All are based in New York.

      Practice head(s):

      Matthew Kaplan; Steven Slutzky

      Other key lawyers:

      Peter Loughran; Paul Rodel; Eric Juergens

      Key clients

      Alaska Air Group, Inc.

      Bank of America

      Brighthouse Financial, Inc.

      The Carlyle Group

      Clayton Dubilier & Rice, LLC

      Core & Main LP

      Globo Comunicação e Participações S.A.

      Gogo Inc.

      Goldman Sachs & Co

      The Guardian Life Insurance Company of America

      HarbourVest Partners

      JetBlue Airways

      Manulife

      Morgan Stanley & Co, LLC

      Principal Financial Group

      Spirit Airlines

      Teachers Insurance and Annuity Association of America (TIAA)

      Warner Music Group Corp.

      Westpac Banking Corp

      Work highlights

      • Advised Westpac Banking Corporation in multiple registered offerings, including its offer and sale of $1.75bn of 1.552% Covered Bonds Series 2021-C3 due September 30, 2026.
      • Advised Jackson and Prudential plc in the separation of Jackson through a demerger, in a transaction valued at approximately $2.5bn and that establishes Jackson as an independent, publicly-traded company.
      • Advised Antares Holdings LP on the offer and sale of $500m aggregate principal amount of 3.950% notes due 2026.

      Dechert LLP

      Dechert LLP has a background in Latin America offerings, notably those originating from Chile and Mexico. New York partner Howard Kleinman  is a seasoned Latin America specialist with an extensive record in debt offerings. The firm is also active in global offerings by US issuers, including those in the life sciences and permanent capital fields. Boston’s Thomas Friedmann and New York partner David S Rosenthal lead the capital markets practice.

      Practice head(s):

      Thomas Friedmann; David Rosenthal

      Other key lawyers:

      Howard Kleinman; Harry Pangas; Jay Alicandri

      Work highlights

        Fried, Frank, Harris, Shriver & Jacobson LLP

        Fried, Frank, Harris, Shriver & Jacobson LLP has a standout presence in global offerings for healthcare, telecoms, shipping and insurance businesses; this includes a mixture of IPOs and other equity offerings, along with investment grade, high-yield, and convertible debt issuances. The firm’s expertise in high-yield debt is frequently applied in acquisition financings for global private equity clients. It has also continued to be appointed as underwriters’ counsel to a range of global issuers and is making a further impression in green bonds and sustainable financings. Daniel Bursky  leads the highly rated New York-based team, which frequently works alongside colleagues in London.

        Practice head(s):

        Daniel Bursky

        Other key lawyers:

        Andrew Barkan; Mark Hayek; Joshua Wechsler; Joshua Coleman

        Testimonials

        ‘Fried Frank does a lot of large equity deals and they are incredibly knowledgeable about the market and what terms borrowers and lenders should be negotiating. They are also great communicators that explain complicated terms clearly and help us make the best decisions.’

        ‘The individuals we work with are incredibly responsive and easy to understand. They also make every client feel like they are the most important.’

        ‘Responsive, collaborative, insightful, knowledgeable about current trends & best practices, business-savvy.’

         

        Key clients

        Aerie Pharmaceuticals

        At Home

        Broadstone Net Lease

        Catalent

        Emerald

        Evoqua Water Technologies

        Extended Stay

        Goldman Sachs BDC

        Harsco

        Humana

        KITS Eyecare

        Lithia Motors

        LivePerson

        Merck

        The Navios Group (and related entities)

        Perrigo

        RedBall Acquisition Corp.

        Spanish Broadcasting System

        Sterling Check Co.

        Tapestry (f/k/a Coach)

        T-Mobile

        Tradeweb Markets

        Under Armour

        Work highlights

        • Counsel to Novelis in multiple matters, including its issuance of $750m aggregate principal amount of 3.250% high yield senior notes due 2026 and the issuance of $750m aggregate principal amount of 3.875% high yield senior notes due 2031.  
        • Advised Goldman Sachs’ Petershill unit, an alternative investment fund, in connection with its listing as a permanent capital vehicle on the London Stock Exchange.
        • Advised the underwriters on Otis Worldwide’s offering of €500m 0.000% notes due 2023, €600m 0.318% notes due 2026, and €500m 0.934% notes due 2031.

        Hogan Lovells US LLP

        Hogan Lovells US LLP has significantly expanded its global offerings practice in recent years, not least through the impact of Richard Aftanas, a senior hire in 2020. This builds on the firm’s pre-existing success in Latin America offerings, in part through the Sao Paulo office, along with sovereign offerings and structured finance transactions. The capital markets team is also making solid progress in offerings originating in Europe. Emil Arca  is a leader in structured finance transactions, including diversified payments rights deals. Evan Koster  is a key figure in energy-related offerings and sovereign transactions. Sina Hekmat  splits his time between New York and Frankfurt, and regularly advises on deals involving European issuers. All other named partners are based in New York.

        Practice head(s):

        Richard Aftanas; Emil Arca

        Other key lawyers:

        Evan Koster; Sina Hekmat; Ben Garcia

        Testimonials

        ‘They walked us through this process in an expert manner that permitted us to jump into this complex market. Their expertise and reputation helped us with the banks and potential investors. I am very happy we chose HL as our legal advisors. They have vast experience in Latam, and in our case that was a very important asset. They are not only bilingual, but bi-cultural.’

        ‘The team have in depth knowledge and strong relationships with the issuer clients we work with, are extremely experienced and knowledgeable and are a pleasure to work with.’

        ‘Excellent and experienced lawyers. Knowledge goes from sovereign to complex project finance transactions.’

        ‘It is highly efficient that the team offers advice on questions under US and European regulations.’

        ‘The team is great. It is a dream team. Ben Garcia, partner in NYC office, is a very intelligent and experienced lawyer. He is very easy to work with. Polite and articulate, knows how to make things happen.’

        ‘Sina Hekmat – pleasure to work with, incredible client knowledge.’

        ‘I have enjoyed working with Sina Hekmat and the team in my current capacity for over a year now. Relative to other firms they have been incredibly responsive to queries and very well organized when it comes to document management on any given transaction. Coming from an in-house role, my interaction with the team has been largely in the investment grade space, over which they have demonstrated an acute sense of commercial awareness while also providing helpful legal advise. They have been particularly good at raising issues for my attention in their cover emails which is very helpful.’

        ‘Sina Hekmat is an excellent specialist in global offerings. He is available at short notice, replies instantly and offers great support to his clients during global offerings.’

         

        Key clients

        Banco do Brasil

        Banco Pichincha

        Bemobi Mobile Tech S.A,

        BOC Aviation

        Caixa Seguridade

        Colgate-Palmolive

        Enstar Group Limited

        Hut 8 Mining Corp

        Knighthead Capital Management, LLC

        The Government of the Bahamas

        Micro Focus International

        Voxeljet

        Work highlights

        • Advised various joint lead managers on an aggregate of approximately $9.9bn in debt offerings for Landwirtschaftliche Rentenbank (Rentenbank), a development bank for the agriculture, forestry, fishing, and food industries in Germany.
        • Advised Colgate-Palmolive Company on its €500m inaugural eight-year sustainability bond.
        • Advised Hut 8 Mining Corp, a Canadian cryptocurrency mining company, on its $82m US IPO and $173m follow-on equity offering.

        Latham & Watkins LLP

        Latham & Watkins LLP‘s extensive national and international presence, along with its traditions in capital markets, makes it a top firm in global offerings in both debt and equity. It represents an enviable list of issuers and underwriters. The firm is at the forefront of global offerings originating from Europe, the Middle East and Asia, and has a particular niche in Israeli offerings. It represented Oatly Group, the Swedish food company, on its $1.65bn IPO on Nasdaq and advised ATAI Life Sciences, the German clinical-stage biopharmaceutical company, on its $285m IPO on Nasdaq. The firm is also building its standing in Latin America, having made some important lateral hires to its Latin America team in recent times.  New York managing partner Marc Jaffe has lengthy track record in global IPOs and high-yield debt offerings, and global head of capital markets Ian Schuman is a market leader in international IPOs. Nathan Ajiashvili is another prominent name, especially in the life sciences sector. All are based in New York. 

        Practice head(s):

        Ian Schuman; Jenna Cooper; Keith Halverstam; Jeffrey Lawlis

        Other key lawyers:

        Marc Jaffe; Nathan Ajiashvili

        Work highlights

          Mayer Brown

          Mayer Brown has continued to invest in and expand its capital markets senior team with a series of internal promotions and lateral hires. Jonathan Pacheco joined the Washington DC office as a partner from Simpson Thacher & Bartlett LLP, bringing extensive capital markets expertise, including offerings by Brazilian issuers. Moreover, amongst other senior appointments Ryan Castillo and Brian Hirshberg were promoted to partner in 2021, followed by Washington DC’s John Ablan in January 2022. With substantial teams in New York, London and Hong Kong, it has rightly achieved prominence in the world’s top capital markets centers of the last 20 years. Consumer products, energy, financial services, specialty finance and fintech, life sciences and healthcare, REITs, business development companies (BDCs), and tech and telecoms are key sectors. Major foreign markets for the practice include Brazil, where the firm has an affiliation with Tauil & Chequer Advogados, along with Canada, Israel and the Nordic nations. Anna Pinedo is an experienced name in offerings originating from Canada, Israel and the Nordics. David Bakst , who has an excellent record in Brazil offerings. Other key partners include Chicago’s Edward Best , Phyllis Korff and Jerry Marlatt, who has driven the development of the Canada practice. All named partners are based in New York unless stated otherwise.

          Practice head(s):

          Edward Best; Anna Pinedo

          Other key lawyers:

          Jonathan Pacheco; Ryan Castillo; Brian Hirshberg; John Ablan; David Bakst; Phyllis Korff; Jerry Marlatt,

          Testimonials

          ‘Expertise in SEC and capital markets, excellent advice – right to the point, dedication, business understanding, flexibility.’

          ‘Unique understanding of law and rules. Support the transactions with a goal of successful completion. Run the process in an impressive way with few steps ahead of time. Great advices. Specific partner – Anna Pinedo.’

          ‘Very competent and helpful team.’

          ‘Anna Pinedo is the sole reason for using this firm. She has unique experience and competence and has always provided me with adequate support, either from herself or by putting me in contact with the right partner.’

           

          Key clients

          Adaptimmune Therapeutics plc

          AltaGas Ltd.

          Anchiano Therapeutics Ltd.

          Barclays Capital

          BBVA USA

          BiomX Inc.

          BMO Capital Markets

          BNP Paribas

          BofA Securities, Inc.

          Canada Pension Plan Investment Board

          Canadian Imperial Bank of Commerce

          Citigroup Global Markets, Inc.

          Credit Suisse

          Deutsche Bank

          FBR Capital Markets

          Goldman Sachs & Co. LLC

          GW Pharmaceuticals

          HSBC

          Hyundai Capital America

          InMode Ltd.

          Islandsbanki hf.

          J.P. Morgan Securities LLC

          JMP Securities

          Keefe, Bruyette & Woods (KBW)

          Lloyds Securities

          Macquarie Group and Macquarie Bank

          Mizuho Securities

          Morgan Stanley & Co. LLC

          National Bank of Canada

          Natixis

          Nomura

          Ontario Municipal Employees Retirement System

          PNC Capital Markets

          Raymond James & Associates, Inc.

          RBC Capital Markets

          Scotia Capital / Bank of Nova Scotia

          Stifel

          Triton International Limited

          UBS Securities LLC

          US Bancorp

          Wells Fargo Securities, LLC

          Work highlights

            Milbank

            Milbank is best known for global offerings originating from Latin America, this includes debt and equity offerings with notable growth in emerging areas such as sustainability-linked and green bond deals. The team is rated for issuer and underwriter engagements, and has a reputation for headline deals, including SEC-registered transactions. Marcelo Mottesi is global head of capital markets and co-head of the Latin America team, which includes Carlos Albarracin, another capital markets specialist. Both are supported by senior capital markets experts in Sao Paulo.

            Practice head(s):

            Marcelo Mottesi; Tobias Stirnberg

            Other key lawyers:

            Carlos Albarracin

            Key clients

            Avianca

            Banco Continental S.A.E.C.A.

            BofA Merrill Lynch

            Compañía de Minas Buenaventura S.A.A.

            Citigroup

            FS Agrisolutions Indústria de Biocombustíveis Ltda. (FS Bioenergia)

            Goldman Sachs

            Inversiones y Rentas S.A. (“IRSA”), controlling shareholder of Compañía Cervecerías Unidas S.A. (“CCU”)

            J.P. Morgan

            Morgan Stanley

            Work highlights

              Paul Hastings LLP

              Paul Hastings LLP has a major focus on Latin America offerings, most notably Mexico, where it has an outstanding record in big-ticket and headline transactions. The firm has also gained further ground in Brazil, where the arrival of Thiago Spercel from Machado Meyer Sendacz e Opice Advogados has reinforced the Sao Paulo office after the department of David Flechner to Allen & Overy LLP. In New York, the firm has a highly-developed Latin America team led by Michael Fitzgerald, a doyen of Mexico transactions; he is supported by Joy Gallup , Arturo Carrillo  and Cathleen McLaughlin , who is noted for high-yield debt and energy and infrastructure-related capital markets offerings. Frank Lopez is global co-head of the capital markets group, managing partner of the firm and chair elect. 

              Practice head(s):

              Frank Lopez; Teri O’Brien; Michael Fitzgerald

              Other key lawyers:

              Joy Gallup; Arturo Carrillo; Cathleen McLaughlin

              Testimonials

              ‘Counsel at Paul Hastings is extremely knowledgeable, efficient and precise. Top law firms we have ever worked with.’

              ‘Michael Fitzgerald, Arturo Carrillo and Joy Gallup are outstanding.’

               

              Key clients

              Republic of Peru

              EnfraGen Energía Sur, S.A.U., Prime Energía SpA, and EnfraGen Spain, S.A.U.

              Alpek, S.A.B. de C.V.

              UBS Securities LLC

              Bank of America Merrill Lynch

              Barclays

              Braskem Idesa

              BTG Pactual

              BMO Capital Markets

              Sacyr

              Crédito Real

              Credit Suisse

              Credivalores – Crediservicios S.A.S.

              Cyrela Commercial Properties

              Deutsche Bank Securities

              Flexential

              GI Partners

              Goldman Sachs

              Grupo IUSA, S.A. de C.V.

              HSBC

              Jefferies

              Wells Fargo Securities

              Work highlights

              • Advised the Republic of Peru on a $5bn US and Euro global bond issuance.
              • Advised Credit Suisse as the lead underwriter on the $259m IPO and Nasdaq listing of Global Synergy Acquisition Corp.
              • Advised EnfraGen Energía Sur, Prime Energía, and EnfraGen Spain,  on their issuance of $710m 5.375% senior secured notes due 2030.

              Paul, Weiss, Rifkind, Wharton & Garrison LLP

              Paul, Weiss, Rifkind, Wharton & Garrison LLP has an excellent record in investment grade and high-yield debt offerings for non-US issuers, most notably those based in Canada. Toronto-based Adam Givertz leads the Canada practice, which includes Christopher Cummings, who is particularly prolific in Canadian debt offerings, and Andrew Foley, both of which split their time between Toronto and New York. The group represents both issuers and underwriters.

              Practice head(s):

              Adam Givertz; Christopher Cummings; Andrew Foley; Tong Yu

              Testimonials

              ‘They are very efficient and have a great team in place. Generally, they respond within the required time frames.’

              ‘The unquestioned leader in cross-border capital markets.’

              ‘Andrew Foley rocks!’

              ‘Expertise and practical advice/business judgement. Stand out partners are Chris Cummings and Adam Givertz.’

               

              Work highlights

                Shearman & Sterling LLP

                Shearman & Sterling LLP is rated for both bank side and issuer engagements, particularly those involving Canadian and Latin America entities. The firm is noted for its record in SEC-registered IPOs and debt offerings, along with Rule 144A/Regulation S offerings and private placements. In Latin America, the firm is also active in the sovereign issuance field. The firm’s well established offices in Toronto and Sao Paulo bring it a wealth of engagements with a number of New York partners and team members also plugged into the Canada and Latin America markets. Latin America giant Stuart Fleischmann retired in January 2022 and Latin America leader Antonia Stolper  has become of counsel. Manuel Orillac  and Grissel Mercado  are now the key New York partners on Latin America deals. Jason Lehner  splits his time between New York and Toronto and is key for Canada offerings.

                Practice head(s):

                Ilir Mujalovic

                Other key lawyers:

                Antonia Stolper; Manuel Orillac; Grissel Mercado

                Key clients

                Aeropuerto Internacional de Tocumen

                Azul S.A.

                Banco BTG Pactual S.A. – Cayman Branch

                Banco de Chile

                Banco General, S.A.

                The Bank of Nova Scotia

                Barclays

                BMO Capital Markets

                BNP Paribas

                BofA Securities

                Bradesco BBI

                Bradesco Securities Inc.

                Citigroup Global Markets Inc.

                CIBC World Markets Corp.

                Coca-Cola European Partners plc

                Credit Suisse

                Empresa Nacional del Petróleo (ENAP)

                Globo Comunicação e Participações S.A.

                Goldman Sachs & Co. LLC

                HSBC Securities (USA) Inc.

                Itau BBA

                Itaú Corpbanca

                ITB Holding Brasil Participações Ltda.

                J.P. Morgan Securities

                Mizuho Securities USA

                Morgan Stanley

                MUFG Securities Americas Inc.

                National Bank of Canada Financial Inc.

                PNC Capital Markets LLC

                Province of British Columbia

                Province of Ontario

                RBC Capital Markets

                Safra

                Santander Investment Securities

                Scotia Capital (USA)

                SMBC Nikko Securities America

                TELUS International (Cda) Inc.

                TD Securities

                The Nature Conservancy

                Volcan Compañía Minera S.A.A.

                UBS Securities LLC

                XP Investimentos

                 

                To add m

                Work highlights

                  Simpson Thacher & Bartlett LLP

                  Simpson Thacher & Bartlett LLP has a history of advising on bulge-bracket and headline transactions. The firm has a market leading presence in both investment grade and high-yield debt, especially on the manager side. The firm also has a strong reputation with issuers, particularly those in Latin America. Well established teams in London, Hong Kong and Tokyo, have also brought it further credibility in Europe and Asia. The firm has worked on a number of US capital markets offerings for Asian businesses. Moreover, New York partners Juan Francisco Méndez and Jaime Mercado are well plugged into the Latin America region, and the Sao Paulo office, headed by Grenfel Calheiros, has also played a pivotal role in bringing a series of major Brazil equity and debt deals to the firm. Among a number of headline deals, the Latin America group recently represented Empresa Nacional de Telecomunicaciones (Entel) on its $800m offering of 3.05% senior notes due 2032.

                  Practice head(s):

                  Joshua Ford Bonnie; Roxane Reardon; Kenneth Wallach

                  Other key lawyers:

                  Juan Francisco Méndez; Jaime Mercado

                  Testimonials

                  ‘The team is partner-led and carefully managed to keep it as lean as possible but as big as needed to deliver excellent service.’

                  ‘Their track record in capital markets would not be beaten by any others given their strong commitments to the market. They keep themselves updated in market practice in addition to legal trends. Further, they manage transactions very efficiently with highly respected partners and well-capable associates. Unlike their competitors, they are a solution provider rather an issue spotter.’

                   

                  Key clients

                  AerCap Holdings N.V.

                  Alibaba Group Holding Limited

                  Ambipar Participacoes e Empreendimentos S.A.

                  ARUHI Corporation

                  Asahi Group Holdings, Ltd.

                  Aston Martin Capital Holdings Limited

                  Aura Minerals Inc.

                  Barclays

                  BK Brasil Operação e Assessoria a Restaurantes S.A.

                  BNP Paribas

                  Boa Vista Serviços S.A.

                  BRF S.A.

                  Calisen plc

                  Celulosa Arauco y Constitución S.A.

                  Cirsa Gaming

                  Citigroup

                  Crédit Agricole Corporate and Investment Bank

                  Credit Suisse

                  Cury COnstrutora e Incorporadora S.A.

                  Daiwa Securities

                  Deutsche Bank

                  Embotelladora Andina S.A.

                  GDS Holdings Limited

                  GFL Environmental Inc.

                  Goldman Sachs & Co. LLC

                  HENSOLDT AG

                  Intercorp Financial Services Inc.

                  J.P. Morgan

                  Kreditanstalt für Wiederaufbau (KfW)

                  Logicor

                  Mitsubishi UFJ Financial Group, Inc.

                  Mitsui Fudosan Co., Ltd.

                  Mizuho Financial Group, Inc.

                  Mizuho Securities

                  Morgan Stanley

                  MUFG

                  Nissan Motor Co. Ltd.

                  Nomura Securities, Ltd.

                  Qudian Inc.

                  Republic of Guatemala

                  Republic of Peru

                  RBC Capital Markets

                  Ruhnn Holding Limited

                  Shinsei Bank

                  Société Générale

                  Stonegate Pub Company Financing plc

                  TD Securities

                  Unigel Luxembourg S.A.

                  Via Varejo S.A.

                  Wells Fargo Securities

                  XPeng Inc.

                  YAGEO Corporation

                  YPF Energía Eléctrica S.A. (YPF Luz)

                  Work highlights

                    Skadden, Arps, Slate, Meagher & Flom LLP

                    Skadden, Arps, Slate, Meagher & Flom LLP is a giant in the global offerings segment, leading the market in equity and equity-related global deals for issuers. It is also at the forefront of representing managers, including in global equity offerings by SPACs. In US offerings by overseas issuers the firm has achieved particular prominence in Latin America transactions, particularly those originating from Brazil. Israel is another particularly fertile market for the US team. David Goldschmidt is global head of the capital markets group and Michael Zeidel heads the Americas capital markets team.

                    Practice head(s):

                    David Goldschmidt; Michael Zeidel

                    Work highlights

                      White & Case LLP

                      White & Case LLP has an established record in global offerings, particularly those originating from Latin America, along with further deals from Europe and the Middle East; it continues to work on a number of US offerings by Israeli issuers. The firm is noted for energy and infrastructure-related offerings, and is a growing force in green and sustainability-linked bonds in multiple regions; it advised the underwriters on the $500m SEC-registered, ECB-eligible green bond offering by Wabtec Transportation Netherlands. Global head of capital markets John Vetterli  and senior name Colin Diamond  are key partners, while David Thatch  is regional section head of the Americas capital markets section. All mentioned attorneys are based in New York.

                      Practice head(s):

                      David Thatch

                      Other key lawyers:

                      John Vetterli; Colin Diamond

                      Work highlights