Orrick holds onto lead of top muni bond counsel in 2020

Top municipal bond counsel of 2020

The portion of bond counsel business handled by the top 10 municipal bond counsel firms increased in 2020 compared to 2019. In 2020 the top 10 firms handled 43.1% of all bond counsel business by par value counseled, compared to 40.6% in 2019

While Orrick Herrington & Sutclffe remained in the lead, the second and third bond counsel firms were new this year. McCall Parkhurst & Horton was in second place and Norton Rose Fulbright came in third.

Orrick Logo

Orrick comfortably in the lead

Orrick Herrington & Sutclffe pulled out further from the second place firm. It served as counsel to 119% more issuance in par value than did the second busiest firm in 2020, This compares to its counseling 100% more than the second place firm in 2019. It worked with $51.9 billion or 11.4% of issuance by par in 2020, compared to $44.6 billion or a 11.1% share in 2019.
McCall, Parkhurst & Horton L.L.P. Logo

McCall Parkhurst Horton grew 82.6%, leaping to second place

McCall Parkhurst Horton had an incredible year, increasing its counseled par value by 82.6%. In the process it leapfrogged to second in 2020 from fifth place in 2019 in par value. It counseled $23.3 billion or 5.2% in 2020, compared to $12.8 billion or 3.2% in 2019.
Norton Rose Fulbright Logo
Anne Richard - stock.adobe.com

Norton Rose Fulbright moved up

Norton Rose Fulbright moved up the league table to counsel the third greatest total of issuance in 2020, from its fourth place position in 2019. It counseled $22.4 billion or a 5% share in 2020, compared to $16 billion or 4% share in 2019.
Hawkins Delafield & Wood LLP

Hawkins dropped two spots

Hawkins Delafield & Wood dropped two places on the table, going to fourth from second. This reflected a decline in issuance counseled, which went to $19.8 billion in 2020 from $22.3 billion in 2019. It’s share also declined to 4.4% from 5.5% in the same years.
Kutak Rock logo

Kutak fell two places

Kutak Rock’s share of the bond counsel business slipped to 3.9% in 2020 from 4.8% in 2019, making it recede to fifth place from third. It counseled $17.2 billion of issuance in 2020, down from $19.4 billion the year before.
Top municipal bond counsel of 2020

The rest of the biggest

The sixth through 10th firms in terms of issuance counseled in 2020 were: Nixon Peabody with $14.6 billion, Stradling Yocca Carlson & Rauth with $13.3 billion, Squire Patton Boggs with $12 billion, Gilmore & Bell with $10.6 billion, and Bryant Rabbino with $8.8 billion. Nixon was up two spots from 2019 and Squire was down two spots. Bryant jumped to 10th in 2020 from 17th in 2019.
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