Unparalleled Experience. Our Numbers Speak for Themselves.
When it comes to advising issuers and underwriters on the issuance of high-yield debt, our numbers speak for themselves: from 2008 to 2011, Milbank's Global Securities team represented the underwriters or the issuers in over 60 high-yield debt offerings generating over $25 billion.
Our expertise in high-yield debt offerings extends to both traditional high-yield debt offerings and acquisition-driven leveraged financing in a wide array of industries, including the Aviation, Telecommunications, Power and Energy and Gaming and Hospitality industries. Our lawyers are among the leading advisers of US and non-US issuers and underwriters in both SEC-registered transactions and transactions exempted under Rule 144A/Regulation S.
For bank-bond transactions we work very closely with our Leveraged Finance and M&A teams to prepare commitment papers and transaction documents. For acquisition financings, we are able to support multiple tree bids, often fielding teams with up to five trees.
In addition to representing the major investment banks, we also represent some of the largest issuers of high-yield debt such as Intelsat S.A., Stater Bros. Inc. and Station Casinos, Inc. and are designated underwriters’ counsel to well-known issuers such as United Airlines Inc., Covanta Holding Corporation and Freedom Group, Inc.
knowledge of market practice
When representing underwriters, we seek to provide protections for investors through our unparalleled skill in drafting covenants, and when representing issuers, we aim to provide the issuers with the flexibility to grow and to respond to changes in their business.
Our broad experience and knowledge of market practice, in addition to our familiarity with issues that are unique to the industries we service, allows us to quickly structure covenant packages to the most complex transactions. Through the strength of our international practices, we have become a market leader in high-yield debt offerings in Latin America and Asia. Our clients trust our experience and ability to deliver solutions-focused advice and deal execution, especially when faced with challenging legal issues and complex financing structures.