Credentials at a Glance

ranked

Capital Markets: High Yield Debt (Nationwide)

– Chambers USA, 2020 – 2025

Ranked

Finance — Capital Markets — Debt Offerings — Advice to Issuers

– The Legal 500, 2018 – 2025

ranked

Finance — Capital Markets — Debt Offerings — Advice to Underwriters

– The Legal 500 US, 2018–2025

Where We Excel

Our nationally ranked High-Yield Offerings team has represented both the issuers and underwriters in high-yield debt offerings since the inception of the high-yield market. With more than 215 high-yield debt offerings (with a total transactional value exceeding $103 billion) completed since the beginning of 2011, Vinson & Elkins’ High-Yield Offerings practice combines a historical understanding of the market with valuable insight into current market and industry trends gained through constant exposure to deal flow.

V&E’s global leadership in the energy industry gives us particular experience and ability to handle high-yield offerings for energy industry participants, including upstream oil and gas companies, midstream companies, and oilfield service companies. Beyond the energy industry, we also work on high-yield offerings in a wide range of other industries.

With active involvement of our debt partners, we handle the negotiation and structuring of the security terms, covenants, and documentation, as well as preparation of the offering disclosure documents and related agreements. Our experience includes a full range of high-yield products and offering structures, including first- and second-lien secured notes, senior unsecured notes, subordinated notes, PIK toggle notes, and high-yield unit offerings, and includes offerings by foreign and domestic issuers, both public and private, in U.S. dollars and other currencies. Beyond the initial offering, our High-Yield Offerings team provides assistance with ongoing covenant compliance and analysis in the context of material acquisitions, dispositions, investments, and other significant transactions. Additionally, V&E has extensive experience in liability management matters, including exchange offers, tender offers, redemptions, and consent solicitations.

Experience

  • Targa Resources Partners LP in its $1 billion offering of senior notes 

  • Anadarko Petroleum Corporation in its $3 billion offering of senior notes

  • Underwriters to Weatherford International plc in its $1.5 billion offering of senior notes

  • Underwriters to NGL Energy Partners, LP in its $700 million offering of senior notes

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