Capital solutions

Today's financing challenges rarely fit neatly into a single discipline. Capital structures increasingly span leveraged finance, high-yield bonds, credit, equity, fund finance, asset-based lending – whether in conventional financing scenarios or special situations - often across multiple jurisdictions.

What We Do

Our team brings together experts from our restructuring, financing, corporate, tax, funds, and regulatory practices to deliver integrated advice across the capital stack, addressing the full spectrum of capital structure questions.

We advise investors, sponsors and issuers across the private capital sector, including private equity funds, credit funds and opportunistic credit on optimising financing structures, support corporate borrowers seeking liquidity solutions, and regularly work with financial institutions developing innovative capital products. Our expertise spans the full credit spectrum - from senior secured loans to subordinated debt, as well as the full range of hybrid and equity solutions, including Holdco PIK, structured and preferred equity, equity kickers, and upside instruments. We also guide clients through complex refinancings and to take advantages of the opportunities presented by liability management exercises.

A Commercially Minded Approach

We understand the economic imperatives behind transactions - internal rates of return, covenant headroom, and capital efficiency and we use this commercial perspective to ensure our legal advice supports your objectives.

Built-In Resilience

Our depth of experience in restructuring and special situations is a distinctive advantage. We design capital structures with flexibility and downside protection in mind, ensuring financing solutions remain workable if circumstances change. When challenges arise, you benefit from advisers who understand your capital structure intimately and can move swiftly to implement amendments, waivers, or more comprehensive solutions.

Unmatched Global Reach

A&O Shearman offers genuine depth across every major financing discipline in every leading financial centre – with top tier practices across the globe. Whether the optimal solution involves creative structuring across debt, equity, and structured finance, or navigating a stressed, distressed, or event-driven situation, we have the expertise and the global platform to deliver.