Bloomberg Law
May 11, 2020, 9:41 AM

America’s Corporate Debt Binge Saving Big Law Jobs in Pandemic

Roy Strom
Roy Strom

America’s blue chip companies issued record amounts of debt in March and April, powering a renaissance for the often overlooked Big Law practice that helps companies issue bonds, and helping some law firms avoid layoffs and pay cuts.

Capital markets lawyers tend to fly under the radar, and they have not been the primary driver of law firm profits in many years. That designation has more often gone to partners with strong ties to private equity firms who clock countless billable hours that those deals require.

But M&A levels in April hit lows not seen since 2004, according to data ...

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