Debevoise’s Hybrid Capital practice advises private capital providers, investors, issuers and borrowers on sophisticated capital raising solutions that combine features of both traditional debt and equity. Clients turn to us when they need greater flexibility than conventional financing may provide, whether they are seeking capital or pursuing investment opportunities.
Our clients include private equity, credit, debt, special situations, venture and opportunistic investment funds, as well as institutional investors, insurance companies and corporate issuers. Because we advise both providers and recipients of hybrid capital, we understand the objectives, pressures and negotiating dynamics on each side of a transaction.
We advise across the spectrum of hybrid capital, including convertible and debt-like preferred equity, pre-IPO financings, holdco debt, margin loans, mezzanine financings and other junior debt instruments. These structures can be tailored to address clients’ financing, investment, governance and risk objectives.
Hybrid capital transactions often require expertise across multiple disciplines. Clients benefit from an integrated team of senior lawyers across Debevoise’s finance, capital markets, M&A, insurance, private equity and tax practices, bringing the right perspectives together to structure, negotiate and execute the transaction as a whole.
Our global team works seamlessly across offices and disciplines on domestic and cross-border hybrid capital transactions.