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High Yield

Our global High Yield Practice offers a balanced mix of issuer and underwriter representations. We are a market leader and advise on the most complex, cutting-edge high yield transactions and craft commercial, and often novel, solutions to help our clients achieve their goals.

Issuer’s Counsel

We are the premier issuer-side high yield firm in the world, having been ranked among the top three firms advising the issuers on U.S. high yield offerings for 12 of the past 15 years, according to Refinitiv. Issuers and sponsors value our rigorous, but practical, approach. Combining our deep understanding of the market with our hands-on style, we present our clients to the market in a balanced manner that allows them to advance their business objectives with market-clearing covenants.

Underwriters’ Counsel

We are a global leader with one of the leading market shares in high yield debt financing for investment banks, benefitting from our long and rich tradition in the securities and bank markets. We bring a creative, commercial approach to protecting investors in covenant negotiations, while collaborating with issuers and their counsel to craft covenants that work for their businesses. Clients appreciate that we partner with our banking practice in bank and bond executions, combining our leading experience in both areas.

More than 345 high yield offerings for issuers and underwriters since 2018,
totaling more than $266 billion in proceeds

High Yield Representations

Issuer Aggregate Value
EnVen Energy (managers’ counsel) $325 million
First Data
over $19 billion
Groupe Fnac (France) over $700 million 
HCA over $35 billion
over $5 billion
IHS Markit (managers’ counsel) $800 million
Tesoro Logistics $4.5 billion
Top 2
U.S. High Yield Corporate Bonds, representing the issuer (by value or deal count), 10 of the past 15 years

Top 2
Global Bonds, representing the manager (by value), each of the past 10 years

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