Asia Pacific (ex-Japan) High-Yield Bonds Legal Advisors’ Rankings: 1Q-3Q23

Data Insight 19 October

Asia Pacific (ex-Japan) High-Yield Bonds Legal Advisors’ Rankings: 1Q-3Q23

  • Sharp decline of USD HY Bonds in APAC region was visible with 76% YoY decrease from 1Q-3Q22.
  • Cleary Gottlieb Steen & Hamilton ranked No.1 in the USD HY Bonds Issuer’s Legal Counsel League Table, taking around 15% market share by volume.
  • Allen & Overy topped the USD HY Bonds Manager’s Legal Counsel League Table, obtaining roughly 17% market share by volume.

The full rankings are available to download on the right.

Debtwire volume and league tables cover primary high-yield bonds transactions for issuers whose operating risk is in Asia-Pacific ex Japan. Only transactions denominated in USD are included and are credited based on the settlement date. High Yield bond volume and league tables includes transactions that are rated below investment grade. For unrated transactions, Debtwire looks at the issuer’s rating and whether a transaction has high yield covenants. For unrated transactions with no high yield covenants, Debtwire makes a determination on a case by case basis. For more details on our criteria or any other query please contact us a

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