Cahill Earns Top Rankings in Global Legal Advisor League Tables
Date: 04/07/11
Keeping pace with the market surge through the first three months of 2011, Cahill's active capital markets practice earned top rankings by Bloomberg, L.P. in several debt and equity categories included in its Q 1 2011 Global Legal Advisor League Tables.Cahill is ranked as the number one legal advisor to global underwriters and U.S. underwriters in IPOs, participating in the $1.89 billion IPO of Nielsen Holdings and the record-breaking $4.35 billion IPO of hospital-operator HCA Inc., which has been widely reported to be the largest private equity backed IPO to date. Cahill is also ranked as the number one legal advisor to U.S. underwriters of preferred securities, participating in the $2.6 billion offering by GMAC Capital Trust of Trust Preferred Securities and $1 billion preferred stock offering by Ally Financial, Inc., capturing a 77% share of the U.S. preferred market. Cahill is also ranked second among law firms advising global underwriters in Bloomberg's overall equity category over this same period.
On the debt side, Cahill is ranked as the number one legal advisor to U.S. high yield underwriters, advising on 55 deals that generated $32.6 billion in aggregate gross proceeds, capturing a 45% share of the U.S. high yield debt market. Acquisition finance factored prominently over the first three months of 2011, and Cahill lawyers participated in many of the market's headline-grabbing buyouts including the $5.3 billion buyout of Del Monte Foods and buyouts of CPI International, JoAnn Stores, CommScope as well as the acquisition by Spanish-based pharmaceuticals company Grifols, S.A. of Talecris Biotherapeutics and the sale by the Carlyle Group of a majority stake in JMC Steel. Cahill is ranked second among legal advisors to underwriters in Bloomberg's overall U.S. debt category and is ranked among the top five legal advisors to Euromarket high yield bond underwriters over this same period, advising on deals that generated nearly $2 billion in aggregate gross proceeds and capturing a 12% share of the Euromarket high yield debt market.