Capital Markets: Structured Finance | Global

Clifford Chance boasts an extremely well-resourced team covering the full gamut of international capital markets matters. The law firm has a formidable presence in structured finance, enjoying a vast deal flow in securitisations, with further coverage of NPL trades and regulatory aspects pertaining to investment platforms. The Frankfurt office furthermore acts for an impressive collection of underwriters and bank issuers on DCM matters, including debt issuance programmes as well as the issuing of green bonds, sovereign bonds and bank bonds. Additionally, clients regularly seek the law firm's advice regarding IPOs, capital increases and rights offerings. Its excellent client base, which consists primarily of major international banks and corporates across various industries, serves as further evidence of the firm's strong market position.

Present across the entire capital markets spectrum, with considerable bench strength, Linklaters is recognised by both clients and peers for its excellence. The law firm regularly advises issuers and bookrunners on a wide ambit of DCM products, with extensive experience in green, convertible and Tier 1 and 2 bonds. It is also experienced in assisting with debt issuance programmes. Its outstanding ECM team handles high-profile IPOs, rights issues and SPAC deals as well as dual-track transactions in conjunction with its strong M&A team. Clients further benefit from Linklaters' comprehensive structured finance offering, with expertise in both synthetic, auto and consumer loan securitisations, while its derivatives experts can assist with EONIA and IBOR transitions and other regulatory issues. Its prowess in handling fintech matters, including cryptocurrency and securitisation platform mandates, complements the law firm's services.

Hogan Lovells has strong visibility in structured finance transactions, and is particularly active in the area of auto loan and leasing securitisation, where the team is regularly mandated by financial institutions and service providers. The department also assists with regulatory issues, including the establishment of financing platforms, as well as derivatives mandates. Additionally, Hogan Lovells is recognised for its expertise in ECM mandates, handling IPOs, capital increases and share placements. Its clientele comprises well-known investment banks, which benefit from the law firm's international reach.

Covering the entirety of the capital market, White & Case is an attractive choice for clients seeking strong legal advice and cross-border capabilities. Its DCM practice is frequently mandated for strategically important issues, such as advising state entities, bookrunners and energy companies on ESG-related bonds. The team is also well versed in assisting with high-yield bonds and Rule 144A issues. The law firm exhibits further strength in structured finance, advising on cross-border synthetic and NPL securitisations, ABS transactions and loan portfolio investments. White & Case's holistic offering is completed by its expertise in ECM deals, which includes experience in capital increases and IPOs.

The firm showcases a solid practice with comprehensive coverage across the capital markets spectrum. The law firm's DCM team is particularly known for its high-yield offering, while also advising on debt issuance programmes and topical issues such as green bonds and crypto ETNs. The department is furthermore respected for its expertise in ECM mandates, acting for corporates and underwriters on capital increases, share placements and convertibles deals. Clients also benefit from the law firm's strength in structured finance matters, which span from complex synthetic securitisations to regulatory work pertaining to issuance platforms and structured products. Its international network renders the firm a strong choice for clients seeking cross-border assistance. On 1st May 2024, Allen & Overy and Shearman & Sterling merged to form A&O Shearman.

A robust international law firm, Baker McKenzie is appreciated by clients for its expertise in all matters related to securitisation. The department regularly advises originators and lead managers on auto loan and trade receivables transactions and the structuring of new finance products. Additionally, the team offers expertise in regulatory and fintech issues, and regularly draws on its excellent international network to enable the effective handling of cross-border matters.

Dentons offers a strong practice with particular recognition for its structured finance work. The team regularly advises a diverse clientele of German and international financial institutions on securitisation matters including ABCP programmes as well as trade and lease receivables transactions. With its strong regulatory capabilities, the team is well equipped to advise on complex investment structuring and novel financing platforms. Thanks to its international network of offices, Dentons is well placed to advise on multi-jurisdictional mandates.

Jones Day has notable expertise in structured finance matters, with a focus on assisting domestic and international financial institutions as lead managers, originators and swap counterparties. The law firm is particularly well equipped to handle the structuring and renewal of securitisation programmes as well as auto loan and trade receivables securitisations. The team is also well versed in regulatory issues and STS compliance and provides advice to ratings agencies. Due to its international network of offices, Jones Day is able to address multi-jurisdictional transactions.

Mayer Brown offers a versatile capital markets practice with a solid footing in the securitisation and derivatives market. The team around Patrick Scholl regularly advises on complex documentation issues under EU prospectus regimes for structured products, initial margin documentation and EMIR requirements. It is also mandated for its experience in OTC transactions and master agreements, further assisting with loan and trade receivables securitisation. Mayer Brown's clientele mostly comprises national and international banks, which benefit from the law firm's global network and capability to effectively handle cross-border mandates.