Leading firm in capital market action in Australia recognised

The firm led in both the number of deals advising issuers and managers for the first half of 2016.

Baker & McKenzie topped all other firms in capital market activity in Australia for the first six months of the year, a new report from Thomson Reuters revealed.

According to capital markets league tables published by Thomson Reuters, Baker & McKenzie advised issuers on seven deals for a market share of 2.3 percent and managers on nine deals for a market share of 3 percent in the six-month period ending 30 June 2016.

From the same period last year, the law firm moved up from 6th place in the issuer advisor category and from the 2nd spot in the manager advisor category.

Baker & McKenzie is followed by Gilbert + Tobin which advised issuers and managers on five deals each. Herbert Smith Freehills advised issuers on five deals and managers on four deals while Ashurst advised issuers on five deals and managers on three deals.

DLA Piper advised five issuers while Clayton Utz advised five managers, completing the top five for each category.

Compared to the same period last year, there were 2 percent more deals while there was a marked 93.6 percent increase in the number of deals quarter-on-quarter.

In terms for proceeds per advisor in both advising issuers and managers, there was a 60.7 percent decrease from the first half of 2015 while from the most recent period, there was a staggering 250.1 percent increase.

Based on proceeds from issuers, Herbert Smith Freehills took the top spot as its deals totalled $1.34 billion. They are followed by Gilbert + Tobin with $787.1 million, Baker & McKenzie with $566.9 million, Sidley Austin with $317.6 million and King & Wood Mallesons with $234.2 million.

Based on proceeds from managers, Gilbert + Tobin led, with deals totalling $1.63 billion. They are followed by Baker & McKenzie with $1.40 billion, Ashurst with $323.5 million, Herbert Smith Freehills with $294.7 million and Sidley Austin with $168 million.

Globally, combined debt and equity capital markets activity totalled US$3.8 trillion for the first six months of the year, a 2.3 percent increase from the same period in 2015, Thomson Reuters said.
Allen & Overy topped every other firm in debt and equity advising for both issuers and managers. It advised issuers on 136 deals totalling US$108.6 billion and managers on 303 deals totalling US$265.3 billion.

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