IFLR 1000
The Guide to the World's Leading Financial Law Firms

The capital markets practice of O'Melveny & Myers is widely recognised for its long history of successfully advising issuers and underwriters. In August 2010, the firm appointed partner Eric Reimer to co-chair its corporate finance/capital markets practice.

In a deal which closed in February 2011, the firm represented the Government of Singapore as lead investor in a syndicate formed by Silver Lake. The government and other investors acquired a 65% interest in Skype Technologies from eBay for $1.9 billion. The transaction involved a complex series of equity issuances, debt features, corporate governance features, and intellectual property and tax issues.

The firm also advised International Lease Finance in its sale of $3.9 billion of senior secured notes and $500 million of senior unsecured notes. The $4.3 billion proceeds from the issuance and sale of the notes were used to repay the company's $3.9 billion outstanding secured loans extended to the company by AIG Funding, from the Federal Reserve Bank of New York. The deal closed in August 2010.

O'Melveny & Myers has increased its presence in bank lending, according to competitors. "O'Melveny has some very strong people," says one rival.

In a deal which closed in February 2011, the firm represented long-time client International Lease Finance, the aircraft leasing unit of AIG, in a $2 billion revolving credit facility. A syndicate of 11 banks took part in the three-year unsecured loan, which was made for general corporate purposes.

The firm also advised Bank of America, as agent, in a $400 million deal which closed in January 2011. The transaction involved a $300 million Term B credit facility with a $100 million accordion component to Remy International. Remy will use the credit to repay existing debt.