Skip to content
This is available in:

Our Capital Markets team includes more than 290 lawyers around the globe located in key international financial and industry centers including New York, Chicago, Houston, Los Angeles, Palo Alto, San Francisco, Beijing, Hong Kong, London, Singapore, Shanghai, and Sydney. We represent issuers, underwriters, and other financial intermediaries in structuring and executing securities transactions and disclosure matters in all of the world’s major financial markets. Our lawyers are qualified to practice law in the United States, England and Wales, Hong Kong, and Japan, and regularly work on matters involving the securities regulators and the securities exchanges in those markets.

In the United States, Sidley has local experience with nationwide reach. Capital markets lawyers in our Chicago, Dallas, Houston, Los Angeles, Palo Alto, and San Francisco offices enhance our ability to offer global clients seamless nationwide and cross-border support, and synergy with other geographies and practice capabilities.

Sidley has a leading global Capital Markets practice with deep and broad experience across the capital markets structure.

Contacts

Our Accomplishments

Sidley consistently ranks among the top U.S. and global capital markets firms both by deal value and by number of offerings, with strong showings as both issuer and underwriter counsel in major security categories, including overall debt and equity, straight debt, asset-backed securities, investment grade corporate debt, high-yield debt, IPOs, and follow-on stock offerings.

Recent accomplishments of our award winning practice include:

  • According to Refinitiv, for the five year period ending December 31, 2019, Sidley ranked as:
    • #2 Issuer’s Counsel for U.S. capital markets offerings (equity, equity-related and debt), having worked on 661 offerings raising over US$312 billion in total deal value;
    • #3 Underwriters’ Counsel for U.S. capital markets offerings (equity, equity-related and debt), having worked on 1,139 offerings raising over US$839 billion in total deal value.
  • Debtwire Asia Pacific (ex Japan) HY Bonds Legal Advisors’ League Table Report 
    • #1 Issuer’s Counsel for APAC (ex-Japan) USD High Yield Bonds 2020
    • #1 Issuer’s Counsel for APAC (ex-Japan) Corporate USD High Yield Bonds 2020
    • #1 Issuer’s Counsel for China USD High Yield Bonds 2020
    • #1 Issuer’s Counsel for China Corporate USD High Yield Bonds 2020
  • First-tier national rankings in Securities/Capital Markets Law from 2010 – 2020, Best Lawyers/Best Law Firms
  • Recognized as leaders in the field by all the well-regarded legal directories, such as Chambers Global, Chambers UK, Chambers USA, Chambers Asia Pacific, and IFLR 1000

Our Products

We are widely recognized for our extensive knowledge and experience in the capital markets space, including our work on a wide variety of complex and innovative financial instruments and structures and our experience across a broad range of industries, both domestically and internationally. Our capital markets lawyers structure and execute U.S. and international securities offerings that range from conventional to cutting-edge, resulting in our leading U.S. and international rankings. Our Capital Markets practice includes:

  • investment-grade debt offerings
  • high-yield debt offerings
  • secured debt offerings
  • IPOs, add-on equity offerings, and equity offerings by selling stockholders
  • spin-offs and privatizations 
  • exchangeable securities offerings
  • offerings of preferred stock, regulatory capital securities, and other hybrid capital instruments
  • offerings of structured notes, including equity, commodity and currency-linked, indexed, and other derivative products
  • medium-term note, commercial paper, extendible note, at-the-market common stock, and other funding programs
  • debt offerings by sovereign entities
  • asset securitization and equipment trust offerings

Our Clients

Our clients include large and small companies and financial institutions operating in more than 100 business categories located throughout the U.S. and the world, as well as a number of governments and government-related entities. We advise more than 100 public companies on securities transactions and ongoing reporting and disclosure matters. We also represent virtually all of the world’s major investment banking firms, many regional investment banking firms, and other financial intermediaries in connection with securities transactions. We serve as issuer's counsel for more than 300 companies and as designated underwriters’ counsel on securities transactions for more than 215 companies.

Sidley maintains one of the largest and most active capital markets practices of any international law firm in the China region, advising clients on a broad range of corporate financing matters involving Hong Kong, U.S. and English law. We also practice Singapore law in our Singapore office and Japanese law in our Tokyo office. Our multi-jurisdictional law capabilities enhance our competitive position representing clients on dual listings and international offerings from our six Asia Pacific offices, including three offices in China, representing both regional and multinational clients.

Equity Capital Markets

Sidley’s capital markets team of professionals has worked on a significant number of the initial public offerings (IPOs) that are listed on the SEHK, and ranks among the top firms in terms of number of deals. In recent years, we have handled more than 180 IPOs on the SEHK. Between January 2013 and February 2014, Sidley completed 11 IPOs on the SEHK and was named as number one international law firm (tied) advising on Hong Kong IPOs based on the number of transactions (The Lawyer, March 2014). Many of these transactions involve a concurrent global placement pursuant to Rule 144A and Regulation S. We also have the capability to handle dual listings and cross-border IPOs, such as SEC-registered IPOs listed on the New York Stock Exchange or NASDAQ with concurrent listings elsewhere, and global placements with listings on non-U.S. stock exchanges. Our issuer clients include major corporations from industries such as real estate, power, energy, solar, internet, telecom, oilfield services, metals, paper and pulp, mining, transportation, consumer products and automotives. In addition, we have also worked with numerous leading financial institutions in their role as underwriter or sponsor in connection with equity transactions.

Debt and Equity-Linked Capital Markets

Sidley has a widely respected debt capital markets practice in China. We advise clients on all types of debt transactions from “plain vanilla” deals to complex cross-border deals involving multiple jurisdictions, multiple tranches and various collateral, repayment and priority structures. We also have broad experience in the development and issuance of innovative convertible and exchangeable products, including convertible products involving multi-jurisdictional structures and the use of special purpose vehicles and variable rate contingent interest and floating rate and zero coupon convertible products.

Sidley has an extensive track record advising leading financial institutions as well as corporate issuers, many of which are market leaders in China and other parts of the region. We also represent sovereigns and quasi-sovereigns throughout the region on a broad range of matters. We are particularly proud of Sidley’s long-standing role as international counsel to the Ministry of Finance of the People’s Republic of China since China’s re-entry into the international debt capital markets in 1994.

High-Yield Debt Capital Markets

In addition to our broad experience in transactions involving investment grade debt securities, our capital markets team in Asia Pacific has received widespread recognition as a market leader in high-yield debt transactions. Our team is consistently ranked in the top tier among international law firms as listed by well-regarded legal directories such as Chambers Asia Pacific.

We are widely recognized for the breadth and depth of our work, including the complexity of our transactions, the volume and variety of the offerings we handle and our experience across a broad range of industries.

Contacts