New York, Feb. 3 - Sidley Austin LLP was the top underwriter's counsel for preferred stock in January, according to data compiled by Prospect News.
For issuer's counsel, Squire Sanders & Dempsey (US) LLP ranked first.
Sidley Austin advised the underwriters on three deals, giving it a 22.93% market share. Skadden Arps Slate Meagher & Flom LLP placed second followed by Simpson Thacher & Bartlett LLP.
Among advisers to issuers, in-house counsel took the second position, used by firms on three deals. Hogan Lovells US LLP was third.
Underwriter's counsel, year to date, U.S. market
| Underwriter's counsel | Amount | No. | Share |
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| 1 | Sidley Austin LLP | $0.80 | 3 | 22.93% |
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| 2 | Skadden Arps Slate Meagher & Flom LLP | $0.60 | 2 | 17.20% |
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| 3 | Simpson Thacher & Bartlett LLP | $0.40 | 1 | 11.47% |
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| 4 | Cleary Gottlieb Steen & Hamilton LLP | $0.35 | 2 | 10.04% |
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| 5 | Clifford Chance US LLP | $0.08 | 1 | 2.29% |
|
| 6 | Davis Polk & Wardwell LLP | $0.07 | 1 | 1.86% |
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| 7 | Hogan Lovells US LLP | $0.06 | 1 | 1.66% |
|
| 8 | Jones Day | $0.04 | 1 | 1.00% |
|
| Total | $3.49 | 13 |
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| Issuer's counsel, year to date, U.S. market |
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| Issuer's counsel | Amount | No. | Share |
|
| 1 | Squire Sanders & Dempsey (US) LLP | $1.10 | 1 | 31.54% |
|
| 2 | In house | $0.55 | 3 | 15.77% |
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| 3 | Hogan Lovells US LLP | $0.47 | 2 | 13.33% |
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| 4 | Arnold & Porter LLP | $0.40 | 1 | 11.47% |
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| 5 | Latham & Watkins LLP | $0.30 | 3 | 8.61% |
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| 6 | Venable LLP | $0.30 | 2 | 8.60% |
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| 7 | Sullivan & Cromwell LLP | $0.20 | 1 | 5.72% |
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| 8 | Sullivan & Worcester LLP | $0.14 | 1 | 3.94% |
|
| 9 | Bass Berry & Sims PLC | $0.04 | 1 | 1.00% |
|
| Total | $3.49 | 13 |
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| Prospect News Preferred Stock Counsel Rankings
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Criteria
• The tables include all underwritten dollar-denominated offerings sold in the United States as public or Rule 144A deals reported to Prospect News.
• Convertibles are excluded.
• Offerings are included in the time period in which they price.
• Amounts are based on the total sales price (face amount multiplied by the offering price). The full amount is credited to the issuer's counsel or underwriter's counsel. For multiple firms, the total value is divided equally.
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