Best firms for national capital market activity highlighted
A new report has unveiled the law firms that recorded the highest levels of capital market activity in Australia over the first half of 2016.
According to a leagues table for capital markets by Thomson Reuters, combined debt and equity capital markets activity in Australia saw an increase of 2.0 per cent in comparison to the capital raised in the corresponding period last year.
In terms of the number of deals, Baker & McKenzie took out the top spot, advising issuers on seven deals and managers on nine deals over the six months to June 30 2016.
This was followed by Gilbert + Tobin, which advised issuers and managers on five deals each, Herbert Smith Freehills, which advised issuers on five deals and managers on four deals, and Ashurst, which advised issuers and managers on five deals and three deals, respectively.
DLA Piper took out the number five spot for advising issuers, having advised issuers on four deals.
Meanwhile, Clayton Utz rounded out the top five firms advising managers, having advised managers on two deals over the first half of 2016.
In terms of proceeds for issuers, Herbert Smith Freehills recorded the highest value overall, with its deals totalling $1.34 billion combined.
This was followed by Gilbert + Tobin with an overall deal value of $787.1 million, Baker & McKenzie with $566.9 million, Sidley Austin with $317.6 million and King & Wood Mallesons with $234.2 million.
In terms of proceeds for managers, Gilbert + Tobin came out on top, recording a combined deal value of $1.63 billion for the first half of 2016, followed by Baker & McKenzie with $1.40 billion.
Ashurst saw the next-highest amount of proceeds for managers, with $323.5 million, followed by Herbert Smith Freehills with $294.7 million, and Sidley Austin with $168 million.