Top 10 bond counsel sees big shuffles

ByJessica Lerner

July 26, 2022 12:58 PM

The top bond counsel firms combined for a total of $200.965 billion in 4,673 transactions during the first half of the year, down from the $222.162 billion in 6,177 deals over the same period in 2021.

Only two firms remained in the same spot at this point last year: Orrick Herrington & Sutcliffe and Norton Rose Fulbright. Squire Patton Boggs, Butler Snow, Bryant Rabbino and Miller Canfield entered the top 10, while Stradling Yocca Carlson & Rauth, Chapman and Cutler, Gilmore & Bell and Ballard Spahr were bumped further down in the top 20.

Orrick

Orrick sign logo on headquarters facade of international law firm Orrick, Herrington & Sutcliffe LLP - San Francisco, California, USA - 2020

MichaelVi - stock.adobe.com

Orrick Herrington & Sutcliffe stays No. 1

Orrick Herrington & Sutcliffe retained the top spot. The firm worked on $21.590 billion in 190 deals for a market share of 10.7%, down from the $26.508 billion in 284 issues and 11.9% share of the market in the first half of 2021.

Melinda Koslik

Kutak Rock rises to second

Kutak Rock rose in the rankings with $11.544 billion in 235 deals, or a 5.7% market share, from $8.125 million in 236 deals, or a 3.7% market share, jumping to second place from fourth place at this time last year.

Anne Richard - stock.adobe.com

Norton Rose Fulbright is in third but with less par

Norton Rose Fulbright remained in third, as the firm has accounted for $8.665 billion in 131 deals for a 4.3% market share. That compares to $9.486 billion in 174 deals for a 4.3% market share in 2021.

McCall Parkhurst & Horton moves up

McCall Parkhurst & Horton came in fourth, counseling $7.528 billion in 182 deals, or a 3.8% market share, during the first two quarters this year, versus $6.335 billion in 197 deals, or a 2.9% market share, in 2021.

Squire Patton Boggs sees big gains

Squire Patton Boggs soared to fifth with $6.390 billion in 65 deals for a 3.2% market share during the first half of the year, compared to $4.225 billion in 66 deals for a 1.9% market share in 2021.

BB-counsel-1H-top-10 (1).jpeg

Rest of the top 10

Rounding out the top 10 are: Hawkins Delafield & Wood in sixth with $6.180 billion in 127 deals; Butler Snow followed with a total of $6.071 billion in 52 deals; Nixon Peabody was next with $5.997 billion in 28 deals; Bryant Rabbino came after with $5.635 billion in 19 deals; and Miller Canfield rounded out the top 10 with $5.026 billion in 58 deals.

Senior Markets Reporter, The Bond Buyer

MORE FROM BOND BUYER

Higher education bonds

Northern Illinois University to issue debt to finance energy efficiency

Northern Illinois University is going to market with $62 million of certificates of participation to finance energy-saving projects affecting 50 buildings.

By Jennifer Shea

57m ago
Monetary policy

FOMC preview: Fed telegraphed this one well

While this meeting is a slam dunk, the election and data makes the December meeting more of a question, some analysts said.

By Gary Siegel

4h ago
Trends in the Regions

Billions of local bonds in front of voters in Texas and the Southwest

Issuers in Southwest states led by Texas are hoping voters will approve billions of dollars of bonds in Tuesday's election.

By Karen Pierog

5h ago
Buy side

Munis see positive tone ahead of major market movers in election, FOMC meeting

Investors should "brace themselves" for further volatility, as uncertainty is likely to remain, said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.

By Jessica Lerner

November 4
Election 2024

Election could mean new leaders for key Congressional committees

Potential new Senate Finance Committee Chair Sen. Mike Crapo, R-Idaho, has suggested a potential workaround to offset the cost of extending the Tax Cuts and Jobs Act.

By Caitlin Devitt

November 4
Politics and policy

Muni bond lawsuits, FTDA woes: Top news items for October 2024

October's roundup of pressing items in the bond markets includes a spate of lawsuits involving municipal bonds, issuers weighing in on the Financial Data Transparency Act and more.

By Frank Gargano

November 4