Debt capital markets

A&O Shearman’s market leading debt capital markets team advises issuers and underwriters, in all the main financial centers across the globe, on the full spectrum of debt capital markets transactions, both public and private.

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Our lawyers advise on high yield bonds, investment grade bonds, acquisition financings, leveraged buyouts and liability management (tender offers, exchange offers and consent solicitations). 

We also have extensive expertise in debt programs (shelf registrations and program establishments for notes, commercial paper and other debt instruments), regulatory and hybrid capital, equity-linked instruments, private placements, Islamic structures and sustainable capital markets instruments. 

Our team has been instrumental in many of the major developments in the modern financial markets, from launching the first Eurobond offering in the 1960s through to shaping the evolution of digital bonds and ESG regimes today.  

We also develop industry-leading insights on developments in the international capital markets, including our Prospectus Spotlight (which deals with the evolving EU and U.K. prospectus regimes), and Transparency Spotlight (which explores transparency requirements across a range of capital markets instruments). To access our online guides, please visit our client portal

Renowned for our intellectual rigor, our lawyers draw on deep product expertise and regularly work alongside our regulatory, finance, litigation, tax and restructuring colleagues to create innovative solutions for our clients, incorporating precedent-setting financing techniques that lead the industry.  

In addition to our U.S.-based team, we provide our clients with one of the deepest and most sophisticated U.S. practices on the ground in the U.K., EU, the Middle East and APAC. 

Meet our teams 

Our lawyers have the skills and experience to handle our clients' most complex challenges. Meet them below. 

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Market Horizons podcast

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Market Horizons was an Allen & Overy Podcast series, and is essential listening for those interested in international capital markets. In the series, debt capital markets and derivatives lawyers shared their knowledge and insights on a variety of topics. They explored three key themes: Regulatory change, Digitalisation and ESG.

Browse the podcast