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Orrick Herrington & Sutcliffe remained in first as the top bond counsel for the first quarter of 2025.
The top 10 saw some changes, with Gilmore & Bell and Squire Patton Boggs entering the top 10, while Troutman Pepper Locke and Ballard Spahr were bumped.
Top bond counsel Q1 2025
Rank | Bond counsel | Q1 2025 Par amount (USD millions) | Market share | Number of issues |
1 | Orrick Herrington & Sutcliffe | 13,663.41 | 11.57% | 84 |
2 | Kutak Rock | 7,928.90 | 6.71% | 112 |
3 | Norton Rose Fulbright | 5,768.67 | 4.88% | 47 |
4 | Chapman and Cutler | 5,219.72 | 4.42% | 102 |
5 | Bryant Rabbino | 4,048.72 | 3.43% | 13 |
6 | McCall Parkhurst & Horton | 3,986.84 | 3.38% | 66 |
7 | Gilmore & Bell | 3,854.96 | 3.26% | 95 |
8 | Hawkins Delafield & Wood | 3,746.50 | 3.17% | 55 |
9 | Nixon Peabody | 3,468.48 | 2.94% | 14 |
10 | Squire Patton Boggs | 3,284.53 | 2.78% | 27 |