To assist our clients in understanding new market trends, market practice and regulatory developments, our Capital Markets Group has prepared an ongoing series of Memos, Podcasts and Webinars. Topics include a guide to capital markets opportunities, considerations for issuers and underwriters navigating U.S. and international markets and the benefits of PIPE (private investments in public equity) transactions as pandemic restrictions continue. 








Partner Contacts: Nicolas BourtinCatherine M. ClarkinJared M. FishmanJulia M. JordanMarc Treviño and Benjamin H. Weiner

 
 

RECENT CLIENT GUIDANCE

COVID-19 Crisis: European Capital Markets Developments Guide

May 15, 2020 – This Guide provides answers to common questions in relation to the effects of COVID-19 on European capital markets activity and on related considerations for issuers and underwriters. The Guide is based on the S&C Navigating the Covid-19 Crisis European webinar series held on April 30, 2020.  

Read Our Guide
 

S&C Critical Insights – S&C Capital Markets Co-Heads Discuss “PIPE” Transactions

April 29, 2020 – Sullivan & Cromwell Capital Markets Group co-heads Robert Downes, Cathy Clarkin and Sarah Payne discuss why they expect to see more “PIPE” (private investments in public equity) transactions as the pandemic restrictions continue.

Listen to our Podcast

COVID-19 Crisis: Capital Markets Opportunities Guide

April 22, 2020 – This Guide provides answers to common questions in relation to the effects of COVID-19 on global capital markets activity and on related considerations for issuers and underwriters. The Guide is based on the S&C Navigating the Covid-19 Crisis webinar series held on April 16, 2020.  

Read Our Guide

S&C Critical Insights – The Value of PIPE Transactions During COVID-19

April 20, 2020 – In this episode of S&C’s Critical Insights podcast series, Ari Blaut, a partner in S&C’s Finance & Restructuring Group and co-head of the Firm’s U.S. Credit & Leveraged Finance practice, and Krishna Veeraraghavan, a leading partner in S&C’s Mergers & Acquisitions Group, discuss the growing interest in PIPE transactions in response to the COVID-19 pandemic. The crisis has created serious challenges for businesses: supply chain issues, declines in demand and pressures in receivables. Krishna and Ari explore how PIPE transactions are generally structured and why they have become an attractive solution for severe liquidity issues now.

Listen to our Podcast

S&C Critical Insights – Temporary Measures Announced to Assist U.K. Issuers

April 20, 2020 – In this episode of S&C’s Critical Insights podcast series, London partners Vanessa Blackmore and Ben Perry discuss new temporary measures announced by the U.K.’s Financial Conduct Authority designed to assist UK listed companies during the COVID-19 pandemic. These measures are principally designed to enable companies to raise additional equity capital quickly and effectively, while balancing the needs of investors. Vanessa and Ben explore four major areas in which companies have gained more flexibility: pre-emption rights, working capital statements, the simplified prospectus regime and shareholder meetings.

Listen to our Podcast

Ari Blaut Authors Lexis Practice Advisor Article on Investment Grade Debt Offerings

April 20, 2020 – Ari Blaut, the co-head of S&C’s U.S. Credit & Leveraged Finance practice, authored an article in Lexis Practice Advisor titled “Market Trends 2019/20: Investment Grade Debt Offerings.” The article examined the notable investment grade debt transactions of 2019 and examines the year’s trends, deal terms, and industry insights in the investment grade debt market. Ari also offers insight into what to expect for 2020, including how COVID-19 may impact issuances.

Read Our Post


Week of April 13, 2020


April 15, 2020 – UPDATE — UK's FCA Announces Temporary Measures Designed to Assist Issuers (Memo)

April 15, 2020 – Ari Blaut, Krishna Veeraraghavan and Lindsey Meyer Co-author Lexis Practice Advisor Practice Note on PIPEs (Book)

April 13, 2020 – Court Endorses Establishment of Eligibility Criteria for Paycheck Protection Program Loans (Memo)

April 13, 2020 – Federal Reserve COVID-19 Response (Memo)
 

Week of April 6, 2020


April 9, 2020 – S&C Critical Insights – Australian Legislative and Regulatory Developments During Covid-19 (Podcast)

April 9, 2020 – S&C Critical Insights – U.K. Corporate Financing Facility During COVID-19 (Podcast)

April 9, 2020 – Impact of COVID-19 on Quarterly Reporting; New Statement from SEC Chairman and Director of Division of Corporation Finance (Memo)

April 9, 2020 – SEC Staff Updates COVID 19 Shareholder Meeting Guidance: Updated Guidance Relaxes Notice and Access Timing Requirements When Delays Are Unavoidable (Memo)

April 7, 2020 – U.K. Covid Corporate Financing Facility: U.K. Government Initiative Offers Short-Term Sterling Liquidity for Non-Financial Companies That Make a Material Contribution to Economic Activity in the U.K. (Memo)
 

Week of March 30, 2020


March 31, 2020 – Disclosure Requirements on COVID-19 Impact for Issuers in Europe (Memo)

March 30, 2020 – SEC Issues COVID-19 Disclosure Guidance and Extends Conditional Relief from Reporting Requirements (Memo)
 

Week of March 23, 2020


March 29, 2020 – CARES Act Limits Share Repurchases: Coronavirus Aid, Relief, and Economic Security Act Contains Limitation on Share Repurchases for Companies Receiving Assistance (Memo)
 

Week of March 16, 2020


March 18, 2020 – PIPEs: Key Issues to Consider (Memo)

March 18, 2020 – French Financial Markets Authority Announces Ban on Short Selling on All French Trading Venues (Memo)


 

RECENT CLIENT GUIDANCE