Among London’s Magic Circle law firms, A&O Shearman has made the biggest push into the high yield market, having built an impressive client base of investment banks and private equity sponsors, among them them Carlyle, CVC and ING. ‘The team has developed into one of strongest among its peers in London, with a team of highly skilled professionals with in-depth knowledge of securities laws and the high yield market’, remarks a client. Highly respected practice head Kevin Muzilla acted for KCA Deutag in the $725m financing of its acquisition of Saipem S.p.A’s land drilling business. Mozilla and Jeanette Cruz acted for initial purchasers in a €600m issuance by Sazka Group. John Kicken is ‘an exceptional lawyer and has an impeccable reputation’. He recently advised Hunkemöller and Parcom Capital on the committed financing aspects of the $700 million acquisition of women’s intimate apparel retailer Hunkemöller. Bradley Weyland has broad expertise across high yield bonds, bridge loans and credit facilities, and Marwa Elborai, who brings extensive experience in both high yield bonds and leveraged finance transactions. Following the merger with legacy firm Shearman & Sterling, other key figures include up-and-coming partner Gordon Houseman represented the initial purchasers in connection with a €340m green bond offering by Sweden’s largest fuel company Preem. Head of EMEA capital markets Trevor Ingram is ‘a standout high yield lawyer, a trusted advisor, highly competent, approachable, positive and always available’. He acted for Ardagh Metal Packaging Finance in its $600m offering of high yield green notes. Associate Evangelia Andronikou also plays a key role in the practice.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

‘The A&O team have excellent service levels, surpassing all others in terms of deal execution, commerciality and breadth of market knowledge. The A&O high-yield team is second to none – a league of highly-talented and widely recognised legal practitioners at the top of their game. They have the largest bank/bond practice in Europe and, as a market-leading practice group, the A&O high-yield team have unmatched commercial awareness. Regarding fees, A&O is transparent throughout the entire transaction. There’s a clear focus on value add.'
'The people I’ve worked with come from diverse backgrounds. The firm has a strong DE&I agenda to attract and promote the best lawyers in the city. You can tell they genuinely care about inclusiveness. Apart from being very talented lawyers, they are a kind and caring group of people that you want to be around.’
‘John Kicken (High-yield Partner) is hands down my go-to lawyer in the city for high yield and a respected leader in his field. He has a stellar reputation and possesses an incredible commercial astuteness. John is best-in-class and understands high-yield covenants like no other. He is also an absolute standout in the Dutch market given his roots and experience. John has built one of the most highly regarded teams in Europe. He leads by example and inspires others to excel. He is an absolute pleasure to work with, so it is no surprise why he is highly sought after. John’s associate Sampada Bannurmath is also fantastic and lends tremendous support and value on deal. She’s a legal talent who will go far. She’s another standout member of the A&O team who is a delight to work with.’
‘The team has developed into one of strongest among its peers in London in the last couple of years. It's a team of highly skilled professionals with in-depth knowledge of securities laws and the HY market, focused on their clients' needs.’
‘Angela Ryu is exceptionally efficient and good at client managing and can be trusted in difficult executions.’
‘A&O is a leveraged finance powerhouse with the best bank/bond practice in the market. Their pan-European bank/bond platform is unparalleled. They surpass all others in terms of deal execution and commerciality. A&O dominates capital markets in the Netherlands and John Kicken is the absolute go to person for high yield.’
‘John Kicken is a standout and a high yield leader. He is an exceptional lawyer and has an impeccable reputation in high yield. He is among the best and handles the most complex legal issues with ease.’
‘Allen & Overy has left the biggest mark in the high yield space in recent years and positioned itself among the top. They have the deepest bank/bond bench in the market and are best-in-class in high yield. The quality of partners and associates is second to none. The partner engagement is excellent. Allen & Overy is a class act.’
‘John Kicken leads an incredible team of exceptional high yield lawyers. He is highly regarded as a market leader in European high yield and has a stellar reputation. He is also a key player for high yield in the Netherlands given his Dutch roots and deal coverage. He has an outstanding work ethic and commercial approach. John is best-in-class and a standout.’

Key clients

Hunkemöller
Intrum
KCA Deutag
IHO Holding
Modulaire
Intralot
ING
Parcom
Carlyle
CVC
Brookfield

Work highlights

Advised a consortium of investors led by Parcom Capital on the high yield financing for the acquisition of Hunkemöller, with Carlyle retaining a minority stake.
Advised the initial purchasers on the high yield bond issuance of the BestSecret Group, a Permira portfolio company.
Advised KCA Deutag on the high yield financing for its acquisition of Saipem’s land drilling business.

Lawyers

Hall of Fame

The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.