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Mayer Brown

1221 AVENUE OF THE AMERICAS, NEW YORK, NY 10020-1001, USA
Tel:
Work +1 212 506 2500
Fax:
Fax +1 212 262 1910
Email:
Web:
www.mayerbrown.com

David Bakst

Tel:
Work +1 212 506 2551
Email:
Mayer Brown

Work Department

Corporate & Securities

Position

David Bakst is a partner in Mayer Brown's New York office and a member of the Corporate & Securities practice specializing in Capital Markets. His practice focuses on a wide variety of public and private securities offerings ranging from large New York Stock Exchange and NASDAQ listed IPOs and multibillion-dollar debt offerings to smaller private offerings. David has more than 20 years of capital markets experience with a particular focus on securities offerings involving non-US issuers. He has led securities offerings for a number of the most prominent issuers in Europe, Asia, Australia and Latin America. He advises clients from a broad range of industries, including life sciences, financial services, energy, telecommunications and technology. David regularly advises leading investment banking firms on domestic and international capital markets offerings. David also advises companies regarding Securities Act and Exchange Act compliance, NYSE and NASDAQ compliance, corporate governance, and Sarbanes-Oxley Act matters.

Education

Boston College Law School, JD, cum laude 1996 Editor-in-Chief, International & Comparative Law Review, 1995-1996 Northwestern University, BA 1993


Latin America: International firms

Capital markets

Within: Capital markets

Mayer Brown remains best known for structured products, infrastructure and project bonds, and high yield debt. It is well plugged-in to the region through its dedicated Mexico City office and its presence in Brazil through Tauil & Chequer Advogados in association with Mayer Brown. Clients include Banco General, Bank of Tokyo-Mitsubishi, Celeo Redes, Credit Suisse, Deutsche Bank, Global Bank, Goldman Sachs, JP Morgan and Sanepar. In Uruguay, the practice advised the note purchasers on a $114m senior private placement (and a subordinated private placement of a B-bond), to refinance the El Naranjal and Del Litoral solar power plants, as well as advising the investors on the $65m investment grade-rated project bond issued in the private placement market to finance Invenergy’s La Jacinta Solar project in the country's Salto department. Other work included advising the underwriters on the $184m IPO by Brazilian financial institution Banco Inter. Chicago partner Douglas Doetsch leads the Latin America and Caribbean practice and has an excellent record in structured finance, securitisation and diversified payment rights transactions. Also Chicago-based, James Patti is another strong player in structured finance, securitisation and infrastructure bonds. David Bakst specialises in capital markets transactions by non-US issuers, including a number of Latin American businesses. Leader of the Latin America projects practice Christopher Erckert and Washington DC partner Gabriela Sakamoto are experienced names in project bonds and hybrid financings products. Latin America debt and equity capital markets specialist  George Baptista joined Norton Rose Fulbright US LLP in mid-2018.

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United States: Finance

Capital markets: debt

Within: Capital markets: debt

Equally adept at representing issuers and underwriters, Mayer Brown houses a ‘very capable and experienced’ debt capital markets group that excels in financial services-related work. Senior names include Chicago-based Edward Best, who co-leads both the capital markets and financial institutions practices; he recently acted alongside the London office to advise Chubb on Chubb INA Holdings’ €1.8bn debt offering. Best also advised the underwriters on Kellogg’s $1bn notes offering. In New York, group co-head Anna Pinedo, together with Jerry Marlatt, advised the underwriters on a $2bn notes offering by the Bank of Nova Scotia. David Bakst, also in New York, is another key contact and advised Canada Pension Plan Investment Board on a $1.2bn offering of green bonds. In 2018, seasoned capital markets specialist Phyllis Korff joined from Skadden, Arps, Slate, Meagher & Flom LLP in New York.

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Capital markets: equity offerings

Within: Capital markets: equity offerings

According to sources, ‘increasingly active’ Mayer Brown has ‘really upped its game recently’, due in no small part to the arrival of an experienced team from Morrison & Foerster LLP in early 2018, which included new group co-head Anna Pinedo. Pinedo recently advised the underwriters on Mesa Air Group’s IPO. Chicago-based Edward Best co-chairs the group and advised Goldman Sachs, as underwriter, on TD Ameritrade’s $1.4bn secondary offering. The team also secured a significant volume of cross-border deals over the past year, which included David Bakst advising the underwriters on a $208m offering of preferred shares by Brazil-headquartered Banco Inter. Phyllis Korff, who recently joined from Skadden, Arps, Slate, Meagher & Flom LLP, Jerry Marlatt and Chicago-based group co-lead Jon Van Gorp are also recommended. Named attorneys are based in New York, unless otherwise stated.

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Capital markets: global offerings

Within: Capital markets: global offerings

The ‘very solid and experienced group’ at Mayer Brown benefits from its ability to plug into an extensive global network, which spans offices throughout the Americas, Asia, Europe and the Middle East; its close association with Brazil-based Tauil & Chequer Advogados in association with Mayer Brown is another significant asset. Historically stronger on the debt side, where the group can leverage the wider firm’s premier structured finance expertise, it also has robust capability in equity capital markets, acting for both issuers and managers. Highlights included New York-based David Bakst advising Canada Pension Plan Investment Board on a $1.2bn offering of green bonds. In fact, Canada-related work generally is a sweet spot for the team, which now counts all of the country’s Big Five banks (RBC, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce) as clients. New York partners Anna Pinedo and Jerry Marlatt lead the firm’s relationship as designated underwriters’ counsel for the Bank of Nova Scotia, which recently involved advising the underwriters on a $2bn notes offering by the bank. On the equity front, Chicago-based Edward Best advised Goldman Sachs, as underwriter, on TD Ameritrade’s $1.4bn secondary offering.

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Project finance

Within: Project finance

The ‘creative, responsive and diligent’ team at Mayer Brown is ‘able to break down complex issues and explain them in a user-friendly manner’. The team is also praised for its ability to ‘take the time to understand the needs of the client’. Particularly experienced in PPP matters, Joseph Seliga advised Purdue University, a public institution of the State of Indiana, on the development of new student housing facilities through a long-term PPP structure. Renewable energy transactions are also a key area of focus for the team; Paul Astolfi, who co-heads the global projects group, acted for Allianz Global Investors in a $760m debt financing transaction to finance a portfolio of ten solar projects in the US. Robert Goldberg in Houston and Jeffrey Davis in Washington DC advised GE Energy Financial Services and JP Morgan as equity investors on the commitment to invest approximately $192m, plus additional contributions, to finance the 200MW Persimmon Creek wind project, which is developed by Elawan Wind and Quinbrook Infrastructure Partners. The team is also noted for its experience in Latin America-facing mandates, where Washington DC-based Christopher Erckert recently advised the note purchasers in the placement of $103m senior secured notes and $11.5m subordinated, secured notes in relation to the refinancing of the Naranjal and Del Litoral Solar power plants in Uruguay. Barry Machlin, Mitch Holzrichter, Douglas Doetsch, Nadav Klugman and David Bakst, who is based in New York, are also key figures. Named individuals are based in Chicago unless stated otherwise. Tax equity specialist David Burton moved to Norton Rose Fulbright US LLP in April 2019.

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