England - London • Finance
2

High yield

A&O Shearman

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The merger that formed A&O Shearman brought together two prominent high yield teams, though there has been some change in personnel. John Kicken leads the practice, following the retirement of Kevin Muzilla. Two legacy Shearman & Sterling partners, the experienced Trevor Ingram and the up-and-coming Gordon Houseman, plus six associates joined the group, though Marwa Elborai moved to Kirkland & Ellis International LLP, and Jeanette Cruz left the firm in late 2023. The newly reshaped practice, in which Bradley Weyland plays a pivotal role, hit the ground running with a role in six high yield deals following soon after the merger. This work included the first high yield bond in the commercial real estate sector since 2021. One client describes 'a leveraged finance and high yield powerhouse with the best integrated bank/bond practice in the market', and sees Kicken as 'hands down my go-to lawyer in the City for high yield and a respected leader in his field'. The firm remains a key adviser to the world's largest investment banks and private equity funds on leveraged finance deals.
Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘A&O Shearman is a leveraged finance and high yield powerhouse with the best integrated bank/bond practice in the market. The A&O high yield team is second to none – a league of highly-talented and widely recognised legal practitioners at the top of their game. They have the largest bank/bond practice in Europe. The A&O team have excellent service levels, surpassing all others in terms of deal execution, commerciality and breadth of market knowledge.'

  • 'The A&O Shearman high yield team is a market-leading practice group with unmatched commercial awareness. When it comes to delivering to budget, A&O is transparent throughout the entire transaction. There's a clear focus on value add. The people I've worked with come from diverse backgrounds. A&O has a strong DE&I agenda to attract and promote the best lawyers in the city. You can tell they genuinely care about inclusiveness. Apart from being very talented lawyers, they are a kind and caring group of people that you want to work with and be around.’

Key clients

  • Goldman Sachs International
  • JP Morgan

Work highlights

  • Advised the initial purchasers in connection with Travelodge’s senior secured notes due 2028 and €250m senior secured floating rate notes due 2028, issued by TVL Finance.
  • Advised the initial purchasers on Loxam’s €300m new money offering of 6.375% senior secured notes due 2028.