Capital Markets: Debt & Equity

Capital Markets: Debt & Equity - California


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What the team is known for Superlative representation provided to both investment banks and corporates, as well as companies at all stages of growth. Covers full range of asset class transactional work, with strong capacity for high-yield and investment-grade debt offerings. Thriving transactional practice goes hand in hand with robust regulatory team.

Strengths (Quotes mainly from clients)
"The group offers excellence at all levels, with a deep bench and consistency of excellent quality all the way through from associate to senior partner. Their quiet confidence comes from their ability; they focus on getting the deal done and getting it right."

"Davis Polk has incredibly deep substantive knowledge as well as an excellent understanding of current market practices and trends. The firm delivers great value; I receive on-point, informed, helpful advice from the partners whenever I call."

"The team knows how to get fast-moving deals done in a timely fashion. It is little wonder that the firm is highly regarded as a premier international corporate firm within and without Silicon Valley." 

Work highlights Represented an underwriters group comprising Citigroup, Deutsche Bank and Merrill Lynch in Nike's $1 billion notes offering.

Advising Comcast and NBCUniversal Media in relation to a series of complex, multibillion-dollar issuances and public offerings.

Represented Oracle in its SEC-registered note offering, to the value of $5 billion. 

Notable practitioners  

Bruce Dallas receives the highest praise from the market, which acclaims him as "an exceptional lawyer in terms of his breadth of knowledge and the effective manner in which he interacts with executive officers and opposing counsel." He has recently been representing issuers in significant transactions.

Alan Denenberg is a perennially popular choice among issuers in the tech, healthcare and manufacturing sectors. Commentators describe him variously as "one of the best lawyers I've ever worked with" and "thoughtful and balanced, with a reassuring way about him."

Sarah Solum is building an impressive profile for transactional work in the Northern California IPO market and garners praise from both clients and peers. Sources say: "She is strong technically and gets the deal done efficiently and in her client's interest."

Significant clients E*TRADE Financial, Equinix, Oracle, Solazyme, Texas Instruments.

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What the team is known for Acclaimed transactional work on the international debt and equity markets for both issuer and underwriter clients. Stand-out strength in the biotech field and REIT sector. Strong geographical coverage across California as well as established national platform.

Strengths (Quotes mainly from clients) 
"The most impressive thing about the firm is the responsiveness and quality of the attorneys and their ability to provide subject matter experts on a multitude of legal issues all over the world. Their global presence in most major markets is extremely valuable when conducting due diligence on a multinational transaction."

"Latham has a great sense of teamwork. The whole team, whether the lead partner, his partners, senior or junior associates, they all have a great work quality. What is really spectacular about Latham is the good communication amongst the team and with the client."

Work highlights Represented Shutterfly in its Rule 144A offering of $300 million in convertible senior notes.

Handled William Lyon Homes' $250 million IPO, significant for being one of the first homebuilder IPOs for eight years.

Represented the underwriters in relation to Tesaro's successful follow-on offering.

Notable practitioners  

Patrick Pohlen commands respect for his expertise in the life sciences and technology sectors, where he routinely advises both issuers and major underwriters. Peers describe him as "awesome - a formidable competitor."

The "terrific" Scott Hodgkins has a broad and varied capital markets practice, with noted strength in real estate and consumer product work.

Mark Stegemoeller is a notable high-yield specialist with considerable experience in the debt and equity markets.

Scott Wolfe focuses on the tech and life sciences space, and receives praise for his representation of both financial institutions and company clients.

Casey Fleck concentrates mainly on securities and high-yield work, but maintains a versatile capital markets practice. Sources comment: "He does a good job of identifying the issues important to his client and focusing on those issues."

Steven Stokdyk combines a strong securities and capital markets practice with expertise in financing.

Shayne Kennedy is well known for his work with both underwriters and companies and is well respected by both peers and clients.

Significant clients Citigroup, Morgan Stanley, Spirit Realty.

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What the team is known for Robust practice advising and representing all capital markets participants on a broad scope of transactions, including high-yield and investment grade debt refinancings and IPOs. Particularly prominent in the tech, clean energy and life sciences sectors.

Strengths (Quotes mainly from clients) 
"I choose Skadden because of its reputation for excellence in corporate transactional and board level strategic advice and its global presence. I am impressed with the deep pool of global talent and the willingness to work hard and provide thoughtful and pragmatic advice."

"What uniquely defines Skadden is leadership. They are able to manage deals and transactions like I've never seen - a partner is able to coordinate different offices, both nationally and internationally, seamlessly and everyone remains at the forefront of what's going on." 

Work highlights Represented EMC in its first non-convertible debt offering, comprising $5.5 billion in public notes.

Handled a $500 million high-yield senior secured notes offering on behalf of its client, Freescale Semiconductor.

Represented Goldman Sachs in its underwriting of a high-value secondary offering of common stock in Fidelity National Information Services.

Notable practitioners  

Gregg Noel has built a thriving capital market and securities practice from his bases in Los Angeles and Palo Alto. He represented EMC in its $5.5 billion non-convertible public debt offering.

Thomas Ivey is noted for his strength in the clean tech and solar energy sectors, but he routinely advises on a broad range of capital market transactions. Clients enthuse: "I have complete confidence in his legal ability. When he gives me an answer I know it's right - he is very thorough and gives clear, unequivocal advice."

Significant clients Credit Suisse Securities, Merrill Lynch, McKesson.

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What the team is known for Traditional strength in underwriter representation, but with a growing practice in issuer-side work, with an emphasis on middle-market companies. IPOs are a noted strength, as well as follow-on and high-yield offerings.

Strengths (Quotes mainly from clients) 
"We appreciate the team's responsiveness and how easy it is to work with them. They are low-key, very competent, and easy to deal with."

"Excellent. Very prompt, very thorough and high-quality work product."

Work highlights Represented a group of underwriters in relation to Northrop Grumman's $2.85 billion senior unsecured notes offering.

Represented a consortium of underwriters on Blackhawk Network Holdings' IPO and Nasdaq listing.

Handled a series of high-yield senior unsecured notes offerings on behalf of CNH Capital.

Notable practitioners  

Patrick Brown is a much-admired capital markets attorney whose superlative client service is noted by sources. He represented the underwriters in a high-value senior unsecured notes offering on behalf of client Northrop Grumman.

Alison Ressler combines work in both the capital market and corporate M&A fields, advising both underwriters and issuers on a variety of debt and equity transactions. Sources describe her as "a talented lawyer and a notable force."

From the Palo Alto office, John Savva provides comprehensive capital markets advice to clients, with notable involvement in several high-yield offerings for CNH Capital. Commentators state that he is "efficient, practical, knowledgeable."

Significant clients Mattel, Zions Bancorporation, AT&T, OFS Capital.

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What the team is known for Popular choice for the full range of capital markets work, with emergent strength in cross-border transactions. Noted for its strength in investment bank representations and plentiful experience advising issuer clients, particularly in the tech sector.

Strengths (Quotes mainly from clients) 
"Wilson is one of the premier firms for tech companies, helping them grow from early stage startups all the way through to becoming a public company. They have good commercial awareness and they understand our space and industry - their technical expertise and domain knowledge is very valuable to us."

"They've got a great reputation and are regarded as one of the top tech-oriented law firms, with a lot of transactional experience."

"Wilson sees a lot of Silicon Valley tech companies, so it not only has legal expertise but can tell us what the market is like and what best practices are. They can survey the market within their firm." 

Work highlights Represented Tesla Motors in its $660 million convertible senior notes offering.

Represented real estate website Trulia in its follow-on equity offering, valuing $185 million.

Notable practitioners  

John Fore is an expert in the representation of tech and telecommunication companies who continues to be regarded as a leader in the debt market. Sources enthuse: "He is credible, experienced and he has great perspective."

Jeff Saper is sought out for his expertise in IPOs and tech company representation. He notably handled the follow-on offering of Palo Alto Networks and has been described by observers as "a trusted leader who is uniformly respected by board directors and has enormous amounts of experience."

Larry Sonsini is a well-known and much-admired figure in the capital markets space. He continues to represent Tesla Motors, having handled its $660 million convertible senior notes offering.

"Rock star" Katharine Martin is building an impressive practice and has cut her teeth on some of the most significant capital markets deals of recent times, including the LinkedIn IPO. Clients say "she has a marvelous reputation" in the debt and equity sphere.

Significant clients Gigamon, Infosys, Netflix, JPMorgan Securities.

Band 2 | Cooley LLP

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What the team is known for A dominant force for equity offerings in the tech and life sciences space, with a very strong showing in the IPO market. Typically represents issuers and investors.

Strengths (Quotes mainly from clients) 
"Cooley is a classic Silicon Valley-based firm with solid substantive expertise in numerous areas. They have displayed a real can-do attitude and were helpful in finding solutions, not just the problems."

"They don't just provide legal advice but also business advice and they are able to dovetail their legal advice to fit our business objectives. The firm is focused on business decision making, not just legal concerns."

"Cooley's knowledge base makes them a go-to firm for biotech companies in the area. The whole host of lawyers there not only speak legal language but also industry language. They have senior lawyers who stay there their whole careers, but also bring younger partners up the ranks so I feel well covered from day to day."

Work highlights Represented Goldman Sachs as underwriters in InterMune's follow-on public offering of common stock and convertible senior notes.

Represented Tableau Software in its highly successful IPO, resulting in a $4 billion valuation for the company.

Represented Jazz Pharmaceuticals in its $314.4 million secondary equity offering.

Notable practitioners  

Head of department Eric Jensen maintains a robust capital markets practice and established expertise in semiconductor work. He represented the underwriters on Cyan's high-value IPO. Clients praise his calm approach, claiming: "He helps facilitate awkward negotiations and is very diplomatic."

Louis Lehot continues to impress with his market knowledge and contacts with relevant authorities, including the SEC. Market commentators say: "He is an excellent corporate lawyer with sound judgment and strong counseling skills."

Significant clients Yelp, Morgan Stanley, Brocade.

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What the team is known for Strong presence in the tech company issuers space. Considerable experience on IPO work, with involvement in some of the highest-profile IPOs of recent times.

Strengths (Quotes mainly from clients) 
"Fenwick has a strong client service ethic that starts with gaining a deep understanding of our business. What sets them apart is their creativity. They look at issues and opportunities from a client’s perspective and craft approaches that offer us high-value solutions."

"Fenwick is doing a phenomenal job on tech deals, it is a very hard competitor."

"It is a firm with a well-defined culture and it focuses on its strengths - it doesn't try to do more than that and overstretch itself. It has expertise in understanding our issues, is very responsive, turns things around, and treats us as one of its most important clients."

Work highlights Represented Workday in its IPO - the largest in the tech sector since Facebook - and its subsequent debt offering.

Represented Symantec in its $1 billion offering of senior unsecured notes.

Represented the underwriters, Goldman Sachs, in venture-backed Tableau Software's IPO.

Notable practitioners  

Gordon Davidson is a big name in Silicon Valley, with substantial expertise in issuer-side representation. Sources state: "He has a reputation around the Valley as a practical, results-oriented lawyer who gets things done." His highlights include Workday's IPO and subsequent debt offering.

Jeffrey Vetter is a go-to attorney for IPO work, for which he receives numerous plaudits. Market participants enthuse: "He came to the table as a good partner and was very focused on what we were trying to accomplish. He is cordial and experienced."

Significant clients Facebook, Cisco, Citigroup.

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What the team is known for Called on to represent issuers in relation to IPOs, debt offerings and converts. Offers a strong regulatory team alongside accomplished deal practitioners who are handling an increasing number of deals for foreign private issuers.

Strengths (Quotes mainly from clients)
"The depth of capital markets knowledge at the firm has meant that we can call them at any time with any question. They have a good grasp of the commercial side of things and they find a way to understand our business and make it work." 

"The firm has a fantastic knowledge base, superior execution and is extremely responsive. They will work all night to get a deal done and will throw as many talented lawyers at the transaction as is necessary to meet the time frame. I have peace of mind knowing my transaction will be done correctly and on time." 

Work highlights Represented Restoration Hardware in its IPO and two follow-on offerings, with an aggregate value of over $1 billion.

Acted for Goldman Sachs as underwriters in relation to the Marin Software IPO.

Represented Intel in a $6 billion senior notes offering.

Notable practitioners  

Douglas Smith routinely works with major investment banks involved in the capital markets and receives praise from clients and competitors alike. Wells Fargo Securities is a prominent client.

Jonathan Layne maintains a broad and versatile debt and equity practice and is described as "extraordinarily talented."

Practice cochair Stewart McDowell has a strong profile for capital markets work and notably represented Restoration Hardware in its IPO and two secondary offerings. Clients appreciate her diligence, saying: "She takes the time to get to know our organization well."

Significant clients Deutsche Bank Securities, Lazard, Del Frisco's Restaurant Group.

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What the team is known for Growing strength in issuer representation, built on a traditional reputation for underwriter-side work in the debt markets. High-yield and convertible debt offerings are a noted specialty, with insight into SEC compliance a valuable complement to the transactional practice.

Strengths (Quotes mainly from clients) 
"What stands out is Sidley's integrity and its knowledge of the company - that creates efficiency. They channel all focus into their role, they are proactive and are always up to speed with who we are."

"Sidley offers best-in-class client service. It does a better job of treating us as a client of the firm than any other law firm that I've experienced. They make it seamless for us to tap into the firm's expertise across offices and subject matter areas."

"The firm has excellent judgment and is very knowledgeable about capital markets - they have state-of-the-art expertise. It is very current on regulations and laws and governance, both in the US and internationally."

Work highlights Represented the underwriters in relation to high-value global notes offering by Disney. 

Represented eBay in its $3 billion note offering.

Represented the underwriters in relation to common and convertible stock offerings by Weyerhaeuser.

Notable practitioners  

Eric Haueter enjoys a fine reputation for his work across the whole spectrum of capital market transactions for both issuers and underwriters. He is described as "a fantastic, business-minded lawyer who works tirelessly to achieve favorable outcomes for his client."

Sharon Flanagan is noted for her versatile capital markets practice and is building a strong profile for company representation in particular. Market commentators speak favorably of her skills: "She is thoughtful and balanced. She works well with the group but is still a strong advocate for her clients; she knows what she's doing and that makes it easy to work through issues."

Significant clients Barclays Capital, DaVita, Mercedes-Benz Financial Services, UBS Securities.

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What the team is known for Known for advising tech company clients on all types of transactions, including IPOs, high-yield and investment-grade bonds, and convertible debt offerings. Growing expertise in clean-tech sector.

Strengths (Quotes mainly from clients) 
"It is a real sign of the firm's quality that the very senior people still roll up their sleeves and are totally committed to a transaction. You see the partner all through the deal."

"One of the things I find very useful is that the team has sound business judgment - not just legal advice but also practical business advice."

"When I work with the Simpson team they are extremely responsive, no matter what time of day or night. They are thoughtful and thorough."

Work highlights Represented Microsoft in a series of debt offerings, including its debut euro-denominated offering on the Irish Stock Exchange.

Represented the underwriters in Oracle's $5 billion investment grade public note offering.

Advised the underwriters in relation to Symantec's $1 billion senior notes offering.

Notable practitioners  

The eminently respected William Hinman Jr is deemed to be a "sophisticated, practical and knowledgeable" leader in the capital markets field. Notably, he represented the underwriters in relation to the $600 million debt offering of Agilent Technologies. 

Kevin Kennedy attracts praise from all quarters for the high caliber of his transactional work. He spearheaded the representation of underwriters in Apple's $17 billion bond offering. Commentators commend his approach: "He has a no-bending attitude in challenging discussions. He doesn't weasel away from getting the right answer and will tell you what you don't want to hear."

William Brentani continues to receive plaudits for his capital markets work and has recently been involved in numerous transactions, including the representation of Microsoft in its multi-denominational offerings.

Significant clients Oaktree Capital, Citigroup Global, Credit Suisse, Goldman Sachs.

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What the team is known for A commanding presence in the life science and tech sectors, the team routinely represents corporate clients and underwriters across a range of debt and equity transactions. Draws on the strength of an established M&A group to assist company clients through all stages of growth.

Strengths (Quotes mainly from clients)
"Goodwin has strong connections in Silicon Valley, knowledge of and experience with technology companies' ECM needs, and excellent client service."

"Goodwin is doing a good job of moving itself up in the market and has pulled in partners who are focused on capital markets. I expect to see more of them in this market."

"The firm has the benefit of a very good, strong legal practice, great mentorship from Stewart Cable, and the breadth and depth that comes from having done a lot of transactions." 

Work highlights Represented JPMorgan as underwriter in relation to Trulia's $102 million IPO.

Represented Nike in its $1 billion public notes offering.

Represented tech company Gigamon in its IPO.

Notable practitioners  

Richard Kline enters the rankings this year on the strength of his growing reputation for equity capital markets work, routinely representing both issuers and underwriters. He is described as "phenomenal" and "easy to work with."

New addition to the rankings, Rezwan Pavri receives substantial market endorsement for his equity market practice. Sources say "he is worth his weight in gold" and describe him as "an outstanding lawyer who gets nothing but A's across the board for his performance."

Significant clients Anthera Pharmaceuticals, Citigroup, Goldman Sachs, Guidewire Software.

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What the team is known for Competitive practice for all manner of debt and equity transactions. Serves issuers and underwriters across the USA from its Los Angeles headquarters and other California offices.

Work highlights Represented International Lease Finance in its public offering of senior notes to facilitate aircraft financing.

Represented the underwriters group in relation to Toyota Motor's $1.5 billion global notes offering.

Represented the underwriters in the $2 billion common stock offering of AvalonBay Communities.

Notable practitioners 

Peter Healy is a celebrated stalwart of the debt and equity markets and is frequently called upon by underwriters to assist on transactions.

Significant clients Goldman Sachs, Lions Gate Entertainment, Citigroup, American Honda Finance.

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What the team is known for Dominance in representing emerging companies through IPO and secondary offering transactions. The team has a particularly strong reputation among tech company clients.

Strengths (Quotes mainly from clients)
"The team provides a great combination of expertise, service and value, with a healthy leavening of business judgment."

"The firm has an excellent emerging companies practice and has the complete package; corporate, compensation and benefits expertise, and good comprehensive service across all areas." 

"The team has a depth of resources for large transactions and staffs files appropriately." 

Work highlights Handled the $388 million public equity offering of TC PipeLines.

Represented Silver Bay Realty Trust in connection with its $263.4 million IPO.

Represented Sequans Communications in its public offering of American depositary shares.

Notable practitioners Karen Dempsey is a key contact.

Significant clients Pacific Gas & Electric Corporation, Levi Strauss, Lenovo Group.

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What the team is known for Focused on high-yield and distressed debt financings and first-of-its-kind financings, but with considerable expertise in a variety of debt and equity transactions. Prominent in tech and healthcare sectors. Draws on global strength to offer cross-border expertise to a diverse client base.

Strengths (Quotes mainly from clients) 
"The advice the group gives is consistently good and doesn't change with direction of the wind. We rely on them as a strong, professional, independent view."

"The team is very accessible and responsive, even on small issues that do not necessarily mean big fees for them. They seem to have a very good lay of the land with respect to issues facing clients in the capital markets space."

Work highlights Represented UTi Worldwide in relation to the private placement of $200 million in senior unsecured notes.

Represented Kayne Anderson MLP Investment on numerous stock and note offerings.

Represented Corsair Components in a $75 million private placement of preferred stock.

Notable practitioners Jeff Hartlin is a key contact.

Significant clients BioMarin Pharmaceutical, Envivio, Gevo, Kratos Defense & Security Solutions.

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What the team is known for Renowned expertise in IPO and private placement work for semiconductor and early stage companies. Well positioned in the global market to provide cross-border services for clients, with established links with the Asian markets.

Strengths (Quotes mainly from clients) 
"The team is very proactive. As we work on a transaction they are thoughtful about issues that are down the road and they make sure I'm tuned-in early on so I'm not caught out."

Work highlights Represented Barclays and Deutsche Bank in connection with iWatt's $75 million IPO.

Represented Petco Animal Supplies in an offering of senior subordinated notes and secured bank credit facility.

Notable practitioners  

Jorge del Calvo successfully combines capital markets work with his corporate M&A practice and receives high praise from market observers. Sources commend his business acumen: "Jorge has sound business judgment. He wins business from corporate clients because he can build relationships grounded in good advice and he earns the trust and confidence of those he deals with."

Significant clients Victory Pharma, Banco Latinoamericano de Comercio Exterior, OneWest Bank.

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What the team is known for Integrated practice, merging capital market expertise with firmwide strengths in private equity, corporate M&A and REIT work. Noted expertise in leveraged finance, high-yield and investment grade debt work, as well as IPOs and related offerings.

Strengths (Quotes mainly from clients) 
"The firm has both a great presence in US and international connections. We encounter a consistency of talent at Proskauer and that is one of the great strengths we appreciate at the firm."

"I am very impressed with the firm's strong work ethic in meeting difficult time deadlines. The firm is very client-oriented and will go the extra mile to meet our needs."

Work highlights Represented Ares Capital in its primary offering of common stock, to the value of $333.7 million.

Represented Church & Dwight in a $400 million debt offering.

Represented Ares Management in connection with the $214 million follow-on offering of Air Lease.

Notable practitioners  

Monica Shilling is a much-respected expert in capital markets work relating to business development companies and financial institutions. Sources say she is "extremely knowledgeable" and "always goes above and beyond for the client. She adds real value to transactions."

Michael Woronoff maintains a robust yet varied practice and receives considerable praise from clients and competitors alike. Observers comment: "He is an excellent lawyer with exceptional business judgment."

Up-and-comer Pippa Bond is making waves in the high-yield debt space. She is said to be "intelligent and talented, but also hard-working and available day or night."

Significant clients City Ventures, Solar Capital, Stream Global Services, Deutsche Bank.

Other Ranked Lawyers 其他上榜律师

John Wilson of Shearman & Sterling LLP is an eminently respected debt and equity practitioner, who receives considerable praise from all corners of the market.

Foreign Experts

Foreign Experts are individuals with expertise in a different jurisdiction to the one they are based in. These individuals are particularly highly regarded for international and cross-border work. Usually, they will be identified in the jurisdiction in which they are based and in their country of expertise.

Senior Statesman

A 'Senior Statesman' is a lawyer who no longer works hands-on with the same intensity but who, by virtue of close links with major clients, remains pivotal to the firm’s success.

Eminent Practitioners

'Eminent Practitioners' are highly influential lawyers in a particular practice area who, due to managerial or client relationship commitments, are less active in day-to-day work but remain key players in the team.

Other Noted Practitioners

Other Noted Practitioners are individuals who have not yet been ranked but are seen to be active and accomplished in this area of law.

Other Noted Firms

Other Noted Firms are firms that have not yet been ranked but are seen to be active and accomplished in this area of law.