• Simpson Thacher number one counsel for issuers in January
By Stephanie N. Rotondo
Phoenix, Feb. 5 - Cravath Swaine & Moore LLP came in first place as January's top counsel for preferred stock underwriters, according to data compiled by Prospect News.
The law firm advised underwriters on two preferred offerings that brought in $2.85 billion, or 94.35% of market share.
Morgan Lewis & Bockius LLP took second place, advising on one $100 million preferred offering.
Meanwhile, Simpson Thacher & Bartlett LLP won the top spot as issuer's counsel for the first month of 2014. The firm counseled on one $2 billion deal, taking 66.21% of market share.
Cozen O'Conner and Cravath Swaine tied for second place, advising on one $50 million preferred stock sale.
Underwriter's counsel, U.S. market, year to date
2013 Comparables
| Underwriter's counsel | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | Cravath Swaine & Moore LLP | 2.850 | 2 | 94.35% | 1 | 0.900 | 1 | 27.01%
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| 2 | Morgan Lewis & Bockius LLP | 0.100 | 1 | 3.31% |
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| 3 | Cahill Gordon & Reindel LLP | 0.050 | 1 | 1.66% |
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| Total | 3.021 | 14 | 3.332 | 29 |
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| Issuer's counsel, U.S. market, year to date |
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| | | | | 2013 Comparables |
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| Issuer's counsel | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | Simpson Thacher & Bartlett LLP | 2.000 | 1 | 66.21% | 1 | 1.274 | 2 | 38.23%
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| 2 | Cozen O'Connor | 0.050 | 1 | 1.66% |
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| 3 | Cravath Swaine & Moore LLP | 0.050 | 1 | 1.66% |
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| 4 | Reeder & Simpson PC | 0.025 | 1 | 0.83% |
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| 5 | Fried Frank Harris Shriver & Jacobson LLP | 0.025 | 1 | 0.83% |
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| Total | 3.021 | 14 | 3.332 | 29 |
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| Prospect News Preferred Stock Counsel Rankings
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Criteria
• The tables include all underwritten dollar-denominated offerings sold in the United States as public or Rule 144A deals reported to Prospect News.
• Convertibles are excluded.
• Offerings are included in the time period in which they price.
• Amounts are based on the total sales price (face amount multiplied by the offering price). The full amount is credited to the issuer's counsel or underwriter's counsel. For multiple firms, the total value is divided equally.
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