Latham & Watkins

Comment: This highly recommended practice for debt issues once again highlighted its strength in advice on high-yield bonds. For instance, it provided banking advice on the €3.6bn bond from Schaeffler, which was issued by the family holding company IHO. In addition to Malaun, who is recognized by competitors and clients alike as the “undisputed number one in high-yield bonds”, the firm also appointed a long-time associate as partner, who likewise specializes in high-yield bonds. The recommended practice for structured finance is led by a counsel who focuses on derivatives and advises on EMIR issues and clearing topics. One of his larger instructions was for two state banks on a synthetic loan basket for German savings banks.
Strengths: Outstanding work on high-yield bonds and bank bond financing.
Development potential: The structured finance practice has a narrow orientation in terms of personnel with only one counsel and an associate. If the firm would like to attract more notice on the market again, there is no way around naming a partner in this field.
Recommended: Dr. Rüdiger Malaun (“plays in a league of his own, very good and pleasant to deal with”, client; “clear leader on high-yield bonds”, competitor).
Practice: Advice esp. on high-yield bonds, also stand-alone bonds and programs. In addition, debentures and covered bonds. Structured financial products, esp. derivatives. Primarily active for banks. Strong links to preeminent international practice. (3 partners, 1 counsel, 6 associates)
Clients: ?? Deutsche Bank, Citigroup on €3.6bn Schaeffler high-yield bond; BNP Paribas, UniCredit Bank on €315m Braas-Monier bond; Deutsche Bank on €150m Progroup and €450m Wepa high-yield bond; banking consortia respectively on high-yield bonds from Consolidated Energy and on BMW bonds; Helaba, Bayrische Landesbank on synthetic loan basket for German savings banks.
  • Teilen