North America HY Bonds Legal Advisors' Rankings: 1H23

Data Insight 17 July

North America HY Bonds Legal Advisors' Rankings: 1H23

HY bond issuance in 1H23 totaled at USD 91.4bn, a 42% YoY decrease from 1H22.

Kirkland & Ellis ranked No.1 in the North America HY Bonds Issuers' Legal Counsel League Table, taking around 14% market share by volume. Cahill Gordon & Reindel topped the North America HY Bonds Managers' Legal Counsel League Table, obtaining roughly 24% market share by volume.

The full rankings are available to download on the right.

All rankings are based on data submitted to Debtwire Par. Corporate High Yield Bonds: are below investment grade issues at the designated time of pricing. If the issue is not rated, inclusion of the following covenant may determine High Yield status: 1) restricted payment test; 2) debt incurrence test. Unrated issuers without such covenants may be excluded from High Yield volume and league tables. Unrated Nordic* issues, greater than approximately €50m-equivalent, priced above 300 bps for floating-rate notes and 5% for fixed-rate notes, shall be considered high-yield if issued under normal market conditions. For more details on our criteria or any other query please contact us at

Did you enjoy this article?

Add the following topics to your interests and we'll recommend articles based on these interests.

Leveraged Credit

Find new investments, capture flow, and win more deals.

The first end-to-end platform for leveraged capital markets professionals merging human insights and machine intelligence to deliver groundbreaking predictive analytics.

Request a demo