Capital Markets: Debt & Equity: Nationwide

THE FIRM This New York-based team has a strong practice in high-yield work and IPOs, with an enviable client base amongst major financial institutions. It represented underwriters Merrill Lynch, Citi and JPMorgan on the IPO of hospital operator HCA, valued at $4.35 billion and reported to be the largest private equity backed IPO in US history.

Sources say: "Our number-one firm for high-yield work."

KEY INDIVIDUALS "One of the best lawyers in the city" Jonathan Schaffzin "is not afraid to roll up his sleeves and is excellent at finding solutions to complicated situations," say sources. He was part of the team acting for the underwriters on HCA’s IPO.

William Hartnett is considered by interviewees to be "the heart and soul of the practice." He represented JPMorgan, Morgan Stanley and other underwriters on the IPO and concurrent offering of Nielsen Holdings.

James Clark has extensive experience in debt and equity offerings, with recent work including acting for Merrill Lynch in connection with a bond exchange offer by CIT Group.

"A go-to lawyer for high-yield work," John Tripodoro also handles equity transactions, acting for the underwriters in connection with the $450 million IPO of Vanguard Health.

Sources praise Douglas Horowitz as "knowledgeable, great to work with and really coming into his own." He acted for a number of the financing sources in relation to Gibson Energy’s IPO and on connected credit facility and debt tender matters.

THE FIRM This firm has an enviable reputation for its SEC expertise and its international work, acting for Latin American and European clients on a wide range of US debt and equity offerings. The team has been working closely with clients on their recovery from the global economic crisis, acting for Citi and AIG on a range of securities transactions. Other highlights include representing Google on its debut public debt offering.

Sources say: "Very robust for international work."

KEY INDIVIDUALS A recognized authority in the field, Alan Beller "always has the banks asking him questions" and is commended for possessing "a great combination of smarts and good judgment." He acted for the underwriters in a $10.5 billion SEC-registered offering of Citi common stock held by the US Department of the Treasury.

Interviewees comment that Leslie Silverman is "a great character who is excellent to work with." He wins praise for his wealth of experience acting for issuers and underwriters, with recent highlights including acting for the underwriters, led by Merrill Lynch and Morgan Stanley, in a $9.5 billion SEC-registered secondary offering of BlackRock.

Praised by clients as helpful and accommodating, Nicolas Grabar has a great reputation for his international work and a strong Latin American client base. He represented Brazilian company Vale Overseas Limited on its SEC-registered debt offering and for the underwriters of Southern Copper Corporation, with mining operations in Peru, on its SEC-registered notes offering.

Craig Brod is "a talented lawyer who can handle very tricky SEC issues,” interviewees reveal. He is also renowned for his international work, recently acting for Deutsche Telekom in its Regulation S/Rule 144A debt offering by its Dutch finance subsidiary.

Jeffrey Karpf advises on a wide range on SEC-registered and private debt and equity offerings, with particular expertise in advising clients on their recovery and return to capital markets. Of late he has advised the underwriters in the $9 billion public offering of AIG common stock by AIG and the US Department of the Treasury.

David Lopez continues to build on his excellent reputation in the market for his work in debt, equity and structured securities offerings for domestic and foreign clients. He recently acted for Citi on a range of transactions to use excess liquidity to retire large amounts of older debt.

THE FIRM This renowned New York capital markets team enjoys an excellent reputation for its practice advising on a wide range of complex and high-value transactions. It wins particular praise for its debt and high-yield work, recently acting for the initial purchasers in connection with the high-yield offering of Chrysler Group. The group also represented Barclays Capital as initial purchaser in connection with its $750 million high-yield senior debt offering of Freescale Semiconductor.

Client Service “This responsive, knowledgeable and user-friendly team is always available during the course of a transaction.”

KEY INDIVIDUALS Kris Heinzelman is "an eminent lawyer who our senior bankers look to for advice,” commented one client. He acts for a large number of investment banks, recently representing the underwriters in connection with the $5 billion registered debt offering of Hewlett-Packard.

"The dean of securities transactions," John White's experience serving at the SEC makes him a popular choice for SEC work. "Clients love him, he has incredible technical expertise and is greatly respected in the profession," say sources.

Experienced in a wide range of debt and equity work, William Fogg "has the rare combination of subject matter expertise and excellent client service skills – he is always there for us," one client enthuses. He acted for the underwriters in connection with the secondary offering of The Mosaic Company, as part of Cargill International's exchange of its interest in Mosaic with Cargill shareholders and debt holders.

William Whelan is "very experienced, thoughtful and diligent," comment interviewees. He has particular expertise in debt transactions, recently acting for the underwriters in the high-yield debt offerings of TransDigm and representing Arch Chemicals in its private placement of senior debt.

William Rogers is "excellent to work with” and wins praise for his expertise in a wide range of debt and equity work. His recent highlights include advising Costamare on its IPO.

"An exceptional attorney," Andrew Pitts is commended for his "incredible intellect." Recent work includes acting for the underwriters in connection with the debt offering of Alcoa and for the underwriters in connection with the IPO of Apollo Global Management.

"Practical, business-oriented and great to work with," Stephen Burns wins praise as "one of the best high-yield attorneys in the USA." His recent work includes representing underwriters Morgan Stanley and Wells Fargo Securities in connection with the registered high-yield senior debt offering of Chesapeake Energy Corporation.

Erik Tavzel acts for a range of private equity funds and corporate clients. He recently represented DHT Holdings in a common stock offering and Valeant Pharmaceuticals International in a high-yield senior debt offering.

Craig Arcella is "very hardworking, dedicated and responsive," sources say. Of late he has represented the underwriters in connection with the $4.4 billion debt offering of Johnson & Johnson.

THE FIRM This team is consistently involved in high-profile equity transactions, recently acting on the IPOs of AirLease and BankUnited. With an impressive foothold in California as well as New York, the team has a strong following from clients in the technology sector. It also handles work for debt issuers, recently advising Texas Instruments on its $3.5 billion notes offering; the client's first debt offering in nearly 12 years.

Commercial Awareness "This team knows what's going on in the market and with the regulators – they always have the latest information."

KEY INDIVIDUALS Richard Sandler is co-head of the firm's global capital markets practice and is leader of the corporate governance practice. He is well regarded for his experience in a wide range of public and private securities offerings, recently advising JPMorgan, Morgan Stanley and Wells Fargo as joint book-runners on a high-yield offering by ADS Tactical.

"A very talented lawyer," Richard Truesdell is considered a market leader in equity work, acting for the underwriters on the $900 million IPO of BankUnited, the largest US bank IPO. "He is very commercial, cuts to the chase and is terrific to work with," say sources.

Michael Kaplan, co-head of the firm's global capital markets group, wins praise for his "can-do attitude" and excellent standard of client care. He represented the joint book-running managers on the IPO of Wesco Aircraft Holdings. "He is young, brilliant and has a great touch," peers enthuse.

Sarah Beshar is widely respected for her high-quality work and offers particular expertise in debt transactions, recently advising Limited Brands on its high-yield offering.

Based in the firm's Menlo Park office, Bruce Dallas has an enviable client base in the hi-tech and biotech sectors, with highlights including advising the joint book-running managers in relation to the IPO of Endocyte and the underwriters in connection with an offering of convertible notes of Electronic Arts.

Joseph Hall is "always available, very commercial and has excellent judgment," say clients. He is in expert in SEC issues, having formerly served as managing executive for policy at the SEC, and handles a wide range of capital market transactions, recently acting for the joint book-running managers on Air Lease's IPO.

Deanna Kirkpatrick advises issuers and underwriters on a wide range of transactions, with recent key highlights including advising healthcare company CIGNA Corporation on its offering of senior notes.

Alan Denenberg enters the rankings this year, having earned praise as "very thorough, easy to get along with and dedicated to getting the right results for clients." Working out of the firm's Menlo Park office and with a strong technology client base, he acted for Solazyme in connection with its IPO.

THE FIRM Clients benefit from this team's wealth of experience of handling a wide range of transactions for corporations, financial institutions and insurance companies. Recent highlights include acting for American Airlines in its $1 billion offering of senior notes. The firm has particular expertise in advising private equity clients in high-yield debt financings in connection with leveraged buyouts.

Client Service "They offer us training and seminars, and are thoughtful and proactive."

KEY INDIVIDUALS David Brittenham chairs the leveraged finance group and is a "very smart guy," according to sources.

Securities group cochair Peter Loughran acts for issuers and underwriters, with recent highlights including advising Emergency Medical Services in its A/B exchange offering, and Clayon, Dubilier & Rice in a related $950 million senior notes offering.

Steven Slutzky impresses clients with his "leadership, insight and knowledge of the securities market." He has advised The Rank Group and its portfolio companies in debt offerings, tender offers and acquisition-related financings.

THE FIRM This team prides itself on acting for both issuers and underwriters on a wide range of transactions. Highlights on the equity side include advising Barclays Capital, Credit Suisse and other representatives of the underwriters of Annaly Capital Management's $1.48 billion public offering of common stock. The group has also seen an increase in high-yield work, acting for Merck in its $2 billion notes offering.

Sources say: "Fried Frank do a fantastic job for us. They are hyper diligent, ferocious negotiators, yet keen to achieve a practical solution."

KEY INDIVIDUALS "A legend in the business" Valerie Ford Jacob is respected as "a great transactional lawyer with excellent knowledge of securities law." She chairs the firm and heads the capital markets practice but remains active in transactions, recently advising the lead underwriters in Proctor & Gamble’s $2 billion offering of investment grade notes.

Stuart Gelfond is lauded by peers for his deep knowledge of the law and commercial and responsive approach. His work includes advising CVR Partners on its $328 billion IPO and acting for Navios Maritime Acquisition Corporation on a high-yield note offering.

Daniel Bursky advises issuers and underwriters in a range of financing transactions, recently acting for Onex Corporation in a $465 million credit financing and $200 million offering of high-yield notes to support its acquisition of Res-Care.

Michael Levitt advises issuers, underwriters and selling stockholders in public and private debt and equity transactions. He frequently works with private equity firms and investment banks, for example he advised underwriters Merrill Lynch on Ares Capital Corporation's offering of senior notes.

Paul Tropp draws praise from one client as "an excellent securities lawyer who we call upon for most of our transactional work." Of late he has represented Goldman Sachs as selling stockholder in LPL Investment Holdings' $470 million IPO.

THE FIRM This firm has an excellent national footprint, with skilled capital markets lawyers spread across its offices in New York, San Francisco, Los Angeles, Dallas and Denver. Recent work highlights include advising Capital One on a series of notes offerings, and it has also acted for underwriters such as Wells Fargo, JPMorgan and Deutsche Bank on a range of IPOs and debt and equity offerings.

KEY INDIVIDUALS New York-based Andrew Fabens handles IPOs and follow-on equity offerings as well as debt offerings for issuers and underwriters. Recent highlights include acting for Hewlett-Packard in a series of note offerings and for JPMorgan as underwriter in relation to a notes offering by United Parcel Service.

THE FIRM This team continues to impress with its work on behalf of issuers, recently acting for Sensata Technologies on its secondary offering of common stock and for Wyndham Worldwide on two notes offerings. Another of the firm's strength is its high-yield practice, with work including acting for NGFG Energy on a series of high-yield senior notes offerings.

Sources say: "This firm has done a really good job of growing its practice in this area."

KEY INDIVIDUALS New York partner Joshua Korff is applauded by impressed peers for doing a fantastic job at developing his practice. He has extensive experience with high-yield financings, as well as IPOs and secondary equity transactions, with recent highlights including acting for Clearwire Corporation in the offering of high-yield notes.

THE FIRM This firm continues to build on its strong national presence, adding to its capital markets capability by opening a Boston office in 2011. The team is particularly well regarded for its high-yield work, recently representing financial institutions including Barclays Capital, Citi and Morgan Stanley as lead initial purchasers on offerings. The team also recently advised on the IPOs of Skullcandy and Zipcar.

Commercial Awareness "This team continuously impresses us with its strong grasp of the issues. They are good at managing the different dynamics."

KEY INDIVIDUALS Kirk Davenport is "a strong attorney with excellent high-yield expertise," sources say. He represented Merrill Lynch as lead initial purchaser on the high-yield offering by Hanesbrands.

Marc Jaffe is cochair of the global capital markets group and wins praise as "an excellent technical lawyer who is also very practical." Key work highlights include advising Jefferies as lead initial purchaser on Satelites Mexicano’s secured note offering.

Greg Rodgers "always does a great job," recently acting for biopharmaceutical company Amgen on its bond offering and Sempra Energy on its notes offerings.

Mark Stegemoeller is based in the firm's Los Angeles office and handles a wide range of public and private debt and security offerings, acting for investment banks and corporate clients.

Raymond Lin is well regarded for his practice advising on IPOs and debt financing transactions.

THE FIRM This firm has an impressive presence on both coasts and also handles a substantial amount of work on an international level. As underwriters' counsel for a number of Bank of America affiliates, it has recently advised on a range of debt offerings globally, including in Asia, Europe and Canada.

Sources say: "This team provides strong leadership and great client service."

KEY INDIVIDUALS A recognized expert in the field, James Tanenbaum is "very personable and always available for us," clients reveal. He recently acted for the underwriters in a $3 billion senior notes offering for Capital One.

THE FIRM This firm continues to build on its impressive reputation with recent recruits and high-quality work on behalf of issuers such as Time Warner Cable in debt offerings in the USA and the UK. It is also well known for its Canadian practice, representing Harvest Operations in a $500 million senior notes offering.

Sources say: "A high caliber team which I would not hesitate to use for any transaction."

KEY INDIVIDUALS John Kennedy "is a very bright lawyer with a deep knowledge of securities law, transactions and private equity,” say sources. His recent highlights include acting for Michael Kors in a private offering of $500 million of convertible preferred shares.

Co-head of the capital markets group, Edwin Maynard, is widely regarded as a leader in the Canadian market: "He is involved in all the biggest Canadian deals,” say sources. He represented Ivanhoe Mines in a $1.2 billion rights offering.

Joining the team from O’Melveny & Myers, Gregory Ezring brings with him valuable experience working with private equity funds and corporations in a range of transactions. Recent examples include advising CKX, owner of the 'American Idol' television show, in a $360 million high-yield note deal.

THE FIRM This firm continues to build on its excellent reputation for capital markets transactions and has recently seen an increase in high-yield work. The team has advised Ares Capital Corporation in a series of note offerings worth $1.2 billion and continues to act for long-standing client Lazard Capital Markets in a range of equity and debt transactions.

Client Service "This team is user-friendly, accessible and acts in true partnership with us."

KEY INDIVIDUALS Frank Lopez has a tremendous reputation among his clients, who describe him as "an excellent negotiator with an extremely strong grasp of the market," and appreciate his "creative solutions." Co-head of the group, he recently represented Celgene Corporation in its offering of three tranches of notes for $1.25 billion.

Stuart Bressman is valued by clients for his "huge transactional experience and 24/7 availability." His highlights include acting for Barclays Capital as sole book-running manager in Halozyme Therapeutics' public common stock offering.

Group co-head Julie Allen is "competent, knowledgeable," and a "very good resource," sources say. She advised Icahn Enterprises in a $500 million notes offering.

Head of the firm's Los Angeles office and the West Coast securities practice, Michael Woronoff "is my first choice when choosing a lawyer for a transaction," said one client.

THE FIRM This New-York based group advises top investment banks on a range of complex and high-value debt and equity transactions. Recent debt work includes representing the joint book-running managers on a $750 million high-yield offering by Dana Holding Corp and advising on the $1.2 billion refinancing of Sensata Technologies.

Sources say: "This capital markets team is strong across the board."

KEY INDIVIDUALS Robert Evans "knows the law incredibly well and takes a collaborative approach to solving problems," say interviewees. Recent highlights include representing the underwriters in connection with the $724 million IPO of The Fresh Market.

Antonia Stolper heads up the firm's Latin American practice and is held in high regard for her practice advising Latin American corporate and sovereign issuers on debt and equity offerings.

Head of the capital markets practice, David Beveridge is held in high esteem for his broad expertise. Of late he has acted on the IPO of Kosmos Energy as well as for the joint book-running mangers in connection with a senior notes offering by Peabody Energy Corporation.

Stephen Giove comes highly recommended for his practice advising issuers and underwriters in IPOs and offerings of convertible securities, high-yield and investment grade debt.

THE FIRM This team regularly acts for underwriters and issuers on a range of debt and equity work and has an established client base among financial institutions such as Merrill Lynch. Recent highlights include advising the underwriters in connection with the establishment of a medium-term note program and notes offering by The Walt Disney Company, and advising issuers and underwriters in the real estate sector.

Client Service "We were pleased with their service from beginning to end."

KEY INDIVIDUALS Head of the practice Edward Petrosky is widely regarded as "a fantastic lawyer." He regularly advises underwriters, recently in connection with Daimler Finance North America's debt issuances and on the $569 million IPO of RLJ Lodging Trust.

Samir Gandhi is "an outstanding attorney who really knows his subject matter,” comment clients. He acts for underwriters and issuers, with highlights including acting as issuer’s counsel to Maiden Holdings North America in connection with a notes issuance.

Eric Haueter draws praise for his dedication and hard work in getting deals done. He is based in the firm’s San Francisco office and recently advised eBay in connection with a notes offering.

James O'Connor has particular expertise advising clients in the real estate investment, financial and energy sectors. Of late he advised Caterpillar Financial Services Corporation and Colgate-Palmolive in connection with a number of notes offerings.

Senior counsel Norman Slonaker is widely regarded as an expert in the field. Interviewees are particularly quick to commend his expertise in medium-term note programs.

THE FIRM Simpson Thatcher acts for issuers and underwriters on a range of equity and debt offerings, as well as in high-yield debt financing. The team’s recent equity highlights include acting for HCA Holdings, Nielsen Holdings and Dunkin Brands on their IPOs. Other work includes representing Best Buy and Precision Drilling in debt offerings. Interviewees were particularly quick in their praise for the team's practical approach and outstanding accessibility.

Client Service "These lawyers are deeply committed and available day and night."

KEY INDIVIDUALS Glenn Reiter is "calm, well connected and gives particularly good strategic advice," say sources. He led the team acting for the underwriters in connection with a $5 billion debt offering by Walmart Stores.

"An incredibly able lawyer," John Lobrano advises on a wide range of debt and equity transactions. His recent work includes representing XM Satellite Radio on a high-yield offering.

Edward Tolley is "an awesome lawyer," with has particular expertise in debt transactions. Of late he has advised the underwriters of Altria Group and acted for Texas Competitive Electric Holdings Company in connection with debt offerings.

William Hinman "really knows his stuff and I trust his judgment – when he says something, I listen closely," commented one observer. Based in the firm's Palo Alto office, his recent highlights include representing Seagate Technology on a senior notes offering.

Arthur Robinson comes highly recommended for his work advising investment banking clients in debt and equity offerings, recently acting for the initial purchasers in a sale of senior notes by NBC Universal.

Kenneth Wallach is "fully engaged and is willing to get his hands dirty – he understands our business and the market and is a very tough negotiator,” marveled one interviewee. Recent highlights include representing the initial purchasers in connection with a high-yield offering by MEG Energy Corporation.

"Very practical and dedicated to bringing transactions to a successful close," Joshua Ford Bonnie recently acted on the IPO of FXCM.

THE FIRM This team advises a diverse range of clients and is particularly admired for its work acting for issuers. Recent highlights include representing Stanley, Black & Decker on its innovative offering of convertible preferred units and advising Gilead Sciences on an offering of convertible senior notes. The group is also held in high regard for its acquisition financing practice, advising ENDO Pharmaceuticals on high-yield offerings to fund acquisitions.

KEY INDIVIDUALS Sources applaud Phyllis Korff as "bright, commercial and dedicated to getting deals done." She has particular expertise in dealing with Israeli clients but also advises US clients, recently acting for the joint book-running managers on the proposed IPO of The Carlyle Group.

"No-nonsense, effective and efficient," David Goldschmidt recently advised HCP on its multibillion series offerings, including common stock and senior unsecured note offerings, in connection with an acquisition from HCR ManorCare.

Gregory Fernicola "demonstrates a real commitment to client service – he builds great teams and has an excellent bedside manner," say clients. He advised DENTSPLY International on its notes offering, the proceeds of which were used to finance the acquisition of Astra Tech.

Stacy Kanter is co-head of the firm’s corporate finance practice and draws praise as "enjoyable to work with." She acted for BlackRock in the $9.6 billion secondary offering of its common stock.

Gregg Noel is lauded as "a great person to work with," and heads up the California capital markets group. He acted for Banc of America Securities as lead initial purchaser in a high-yield offering by FTI Consulting.

Richard Aftanas is praised by peers for his involvement in a number of significant deals this past year. He represented The Coca-Cola Company in a series of transactions, including a two-step debt issuance and exchange offer.

THE FIRM This firm has a leading practice acting for financial institutions and companies, particularly on debt and high-yield offerings. Recent highlights include representing the underwriters on AT&T’s SEC-registered global notes offering, and also advising the broker dealers in relation to Coca-Cola Company's unregistered debt offering. The team also has significant experience handling cross-border transactions.

Commercial Awareness "They bring cutting edge knowledge and creativity into very difficult problems."

KEY INDIVIDUALS "One of the best securities lawyers on Wall Street," David Harms "is an incredibly skilful practitioner," say sources. He acted for MF Global Holdings on its convertible loan notes offering.

Robert Buckholz is "terrific to deal with – he is always spot-on in identifying the issues," said one interviewee. Recent highlights include advising the Vulcan Materials Company in a series of transactions, including a SEC-registered high-yield offering.

The "extremely practical, smart and well-rounded," Jay Clayton represented the underwriters, led by Goldman Sachs and Morgan Stanley, in the IPO of Oaktree Capital.

Robert Downes advises on debt and equity offerings, recently acting for issuer NorthStar Realty Finance Corporation on its public offering of stock and exchangeable notes.

"Highly commercial and great at getting deals done," is how sources describe Andrew Soussloff. He recently represented United Rentals in its offering of high-yield notes.

Senior statesman William Williams is widely respected as an expert in the field and is applauded as "a pleasure to work with."

THE FIRM Vinson & Elkins has a strong presence in Texas and is renowned for its debt and equity transactions for clients in the energy sector. The team recently advised Dynamic Offshore Resources on a $400 million IPO and also acted for Enterprise Products in connection with a $1.25 billion notes offering. The team also acts for clients in the aviation, financial services and real estate markets.

Commercial Awareness "The premier capital markets firm in the oil and gas industry with technical knowledge that is second to none."

KEY INDIVIDUALS Firm chairman Mark Kelly wins praise from sources as "knowledgeable, practical and commercial." His recent highlights include acting for C&J Energy Services in connection with two common stock offerings.

THE FIRM This team offers clients expertise in the full range of securities transactions, advising on public and private debt and equity offerings and placements. Recent work includes representing Morgan Stanley as lead book runner in a $1 billion senior notes offering by DENTSPLY International, and it also recently advised Kinder Morgan in its $2.86 billion IPO.

Sources say: "There is always an expert at hand at this firm."

KEY INDIVIDUALS Global head of the securities group, David Lefkowitz is held in high regard for his practice representing issuers and investment banks. His highlights include acting for NBC Universal and General Electric in a $5.1 billion notes offering, as part of the financing of General Electric's joint venture with Comcast.

THE FIRM This firm enters the rankings this year, having earned significant praise for the excellent quality of its work, particularly in California where it is best known for its work in the equity sphere. The team is particularly active in the technology sector, recently advising ServiceSource International and Valence Technology on major equity offerings. Other highlights include acting for LinkedIn on its $352 million IPO.

KEY INDIVIDUALS Palo Alto-based John Fore heads the firm's corporate finance practice.