Morrison & Foerster attorneys represent issuers, dealer-managers, solicitation agents and other parties in connection with a variety of liability management transactions, including:
Our attorneys have particular experience advising on, and structuring, debt tender offers, including tenders for investment grade and non-investment grade debt securities, and tenders involving hybrid securities, such as trust preferred securities. A liability management transaction may be an opportunistic or preventive transaction or part of a more complete recapitalization or restructuring. Our capital markets, corporate, bankruptcy + restructuring, and tax attorneys work closely together to structure multi-step transactions.
Attorneys in our Tax Department have substantial expertise in the management of liabilities and the structuring of debt issuances, repurchases and exchanges. We have significant experience with the full panoply of transactions available to issuers restructuring their liabilities, including the use of securities like contingent convertible debt instruments, high-yield zero coupon obligations and other structured products. Our tax attorneys have the ability to address and manage the variety of tax and non-tax concerns an issuer might face, including the minimization of cancellation of indebtedness income, the preservation of net operating losses, the conservation of cash and recapitalizations or other reorganizations on a tax-free basis.
We are comfortable advising both healthy companies revisiting their balance sheet or pursuing a leveraged acquisition and distressed companies approaching bankruptcy and non-bankruptcy workouts. Our ultimate goal is to provide concrete and practical solutions to the problems faced by issuers.
Download Liability Management: an overview (2015).
Corporate & Capital Markets
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Client Stories - We're Only as Good as Our Last Deal
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Derivatives and Structured Products
Structured Finance and Insurance-Linked Products
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Chambers Asia-Pacific 2018 Asia-Pacific: Capital Markets: Equity China: Capital Markets: Equity: International Firms Japan: Banking & Finance: International Firms Japan: Capital Markets: Domestic Japan: Capital Markets: International: US Law
Chambers Global 2018 Asia-Pacific: Capital Markets: Equity China: Capital Markets: Equity: International firms Japan: Capital Markets: Domestic Japan: Banking & Finance: International Firms Japan: Capital Markets: International: US Law United States: Capital Markets: Debt & Equity United States: Capital Markets: Derivatives
Chambers UK 2018 Debt Capital Markets
Chambers USA 2018 National: Capital Markets: Derivatives National: REITS
EQDerivatives Awards 2016 Equity Derivatives Law Firm of the Year
Financial Times: US Innovative Lawyers Overall winner of the Innovation in Social Responsibility category, 2016 One of four firms ranked “Standout” in the category of New Products and Techniques, 2016 One of four firms ranked “Standout” in the category of Enabling Clients Business, 2015 One of five firms ranked “Standout” in the category of Finance, 2012
GlobalCapital Americas Derivatives Awards Americas Law Firm of the Year 2015 – 2017U.S. Law Firm of the Year – Transactions 2018
GlobalCapital Global Derivatives Awards 2016, 2017 Global Law Firm of the Year
GlobalCapital Syndicated Loan, Leveraged Finance and Private Placement Awards 2016 Private Placements Law Firm of the Year
IFLR1000 2018 China: Private Equity – Foreign Firms Hong Kong: Capital Markets: Equity Hong Kong: Capital Markets: Debt Japan: Capital Markets: Equity Japan: Capital Markets: Equity Foreign Firms Japan: Capital Markets: Debt Japan: Capital Markets: Debt Foreign Firms United States: Capital Markets: Debt United States: Capital Markets: Equity United States: Capital Markets: Derivatives United States: Capital Markets: Structured Finance and Securitisation United Kingdom: Capital Markets: Debt United Kingdom: Capital Markets: Derivatives
IFLR Americas Awards Structured Finance and Securitisation Deal of the Year, 2013 Structured Finance and Securitisation Team of the Year, 2015
Legal 500 Asia-Pacific 2018 Japan: Capital markets: International firms and joint ventures Hong Kong: Capital markets (equity)
Legal 500 UK 2017 Debt Capital Markets Derivatives and Structured Products
Legal 500 US 2019 National: Capital Markets: Debt Offerings: Advice to Issuers National: Capital Markets: Debt Offerings: Advice to Underwriters National: Capital Markets: Equity Offerings: Advice to Issuers National: Capital Markets: Equity Offerings: Advice to UnderwritersNational: Structured Finance: Derivatives and Structured Products National: Structured Finance: Securitization
mtn-i Americas Awards 2013 Legal Leader
Operational Risk & Regulation Awards 2013 Law Firm of the Year
StructuredRetailProducts.com 2012, 2013, 2014, 2015, 2017, 2018 (shortlist) Best Law Firm in the Americas
Structured Products magazine 2006, 2007, 2009, 2011, 2012, 2014, 2016 Law Firm of the Year, Americas
Thomson Reuters Accelus Compliance Awards 2012, 2014 One of Five Firms Shortlisted for Best Regulatory Law Firm of the Year
U.S. News – Best Lawyers® Best Law Firms 2018 National: Derivatives and Futures Law (Tier 1) National: Securities/Capital Markets Law (Tier 1) National: Securitization and Structured Finance Law (Tier 1) National: Securities Regulation (Tier 1) National: Banking and Finance Law (Tier 1)
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"Morrison & Foerster LLP is always available and responsive to us – no matter the time of day or the day of the week, it is ready to drop everything and do whatever it takes to help." (Legal 500 US 2013)
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