A&O racks up $6bn New York debt deal double
Allen & Overy's (A&O) New York office has won high-profile instructions on two US debt offerings worth a total of more than $6bn (£4bn). The magic circle firm took the lead role as US counsel to Novartis on its $5bn (£3.5bn) Securities & Exchange Commission (SEC) registered debt offering that closed last week (10 February).The Swiss-based pharma company instructed a team led by New York-based corporate partner Peter Harwich, also including senior associate Bernd Bohr and associate Michael Maier.
February 17, 2009 at 10:30 AM
2 minute read
Allen & Overy's (A&O) New York office has won high-profile instructions on two US debt offerings worth a total of more than $6bn (£4bn).
The magic circle firm took the lead role as US counsel to Novartis on its $5bn (£3.5bn) Securities & Exchange Commission (SEC) registered debt offering that closed last week (10 February).
The Swiss-based pharma company instructed a team led by New York-based corporate partner Peter Harwich, also including senior associate Bernd Bohr and associate Michael Maier.
Shearman & Sterling's London-based capital markets partner Jacques McChesney led the team representing underwriters JPMorgan, Banc of America, Citi and Goldman Sachs.
On a second deal to close last week (12 February), A&O advised the underwriters on Unilever Capital Corporation's $1.5bn (£1bn) SEC-registered debt offering. Again, the team was led by Harwich and also included Frankfurt-based US counsel Gernot Wagner. Deutsche Bank, Goldman Sachs, JPMorgan and Morgan Stanley were the lead underwriters.
Cravath Swaine & Moore partner LizabethAnn Eisen led the team representing Unilever, alongside partner Mark Greene.
It is believed that the two offerings were among the largest US debt offerings by European issuers since the financial crisis kicked off in earnest with Lehman Brothers' collapse last year.
Harwich said: "We believe A&O's leading position as an adviser on US transactions involving European-based bluechip corporations made us a natural choice for these benchmark transactions."
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