A&O Shearman is one of the market’s go-to-firms for large and high-profile DCM work for banks and issuers alike. The Parisian based team, which can combine forces with the London offices, routinely advises on the most sophisticated and complex deals, spanning all types of products including hybrid, tender offers and T1 and T2 bond issuances by insurers. The firm’s expertise also extends to sustainability (SLB) and EU Green Bond work. Additionally, the Parisian practice boasts US law expertise, advising banks on leading French corporations’ large US issuances. The practice is co-headed by US law expert US law expert Diana Billik and Julien Sébastien. They are supported by counsels Soline Louvigny, Lorraine Miramond, and Quentin Herry.

Cleary Gottlieb Steen & Hamilton combines impressive capabilities through its large Parisian based team that retains top EU and US law expertise and its complementary leading US and UK based expertise. The firm assists many leading French companies acting as issuers as well as underwriters and is also very involved advising leading French banks on their own T1 and T2 issuances. The busy practice advises on the update of large US, EMTN and Japanese bond programmes and consecutives offerings, and on large and sophisticated stand-alone issuances including US Sec registered and Rule 144A offerings. Additionally, the practice is also a key adviser to several African states for their sovereign EU and US bond offerings. The high-profile team is co-headed by Valérie Lemaitre and US law expert Frédéric Martin who was promoted to partner in 2025. Other key names include senior counsels and international DCM transactions experts Andrew Bernstein, John Brinitzer, Barthélemy Faye (who advises African sovereign entities), and counsel Laura Birene.

Headed by the highly regarded Cédric Burford, Clifford Chance‘s Paris based practice is particularly sought after by leading banks acting as lead managers and underwriters, while the team also assists issuers with their large EMTN’s and green bond issuances as well as with liability management work and tender offers. Integrated US capabilities also allow the Parisian team to advise on major US law governed transactions, including private placements and Regulation S and Rule 144A offers. Regularly handling cutting edge work, the practice recently advised on a transaction carried out through the digital financial market infrastructure (D-FMI). Other key names in the team include Auriane Bijon, Olivier Plessis, who brings US law expertise, and Alexander Tollast.

Gide Loyrette Nouel A.A.R.P.I. routinely assists financial institutions acting as subscribers or issuers, and large French corporations on the set-up, update, and issuances of large DCM transactions. The practice is highly involved advising on T2 bonds issuances by insurance companies and is also retained to advise on inaugural issuances of new products such as recently advising on new EU Green Bond Standard (EuGBS) issuances. The team also regularly works on complex transactions, including advising on hybrid and combined notes transactions, as well as on tender offers and private placements. Hubert Merveilleux du Vignaux and Laurent Vincent are the key names within the practice. They are supported by Bastien Raisse, Louis Ravaud, and Aude-Laurène Dourdain.

Linklaters houses a strong combined French/US law expertise within its Paris office that spans Yankee bonds issuance (Rule 144A and Regulation S) and high-yield issuances. The practice often assists lead arrangers and underwriters, as well as banks acting as issuers, while also assisting large corporations with large bond and inaugural notes issuances under EMTN programmes, T1 notes, green bond issuances and tender offers and Oceanes repurchases. Véronique Delaittre ranks among the top names in the field. Also recommended are US expert Luis Roth and high-yield expert Giacomo Reali. Counsel Pierre-André Destrée provides additional support.

White & Case LLP has a strong experienced bench able to tackle work on behalf of issuers and underwriters alike. The Parisian practice is retained to advise on large transactions, spanning green bond and EMTN issuances, T1 and tender offers deals. It also advises on international transactions including Yankee bonds and other US law related issuances, often in cooperation with the US or London offices, advising alternatively banks, corporations, or sovereign entities on major transactions. Thomas Le Vert leads the department. Key names in the team include the highly experienced Séverin Robillard and Grégoire Karila, and a younger guard of partners led by Olga Fedosova, US law expert Max Turner, and Tatiana Uskova, who was promoted to partner in 2025.

CMS Francis Lefebvre houses a practice that regularly assists underwriters and issuers with large bond issuances and EMTN programmes updates. Additionally, the practice has a particularly strong level of activity advising on covered bond home loans and green bonds issuances, while the range of work also extends to USPP and consent solicitation transactions. The team is co-headed by Marc-Etienne Sébire and Rosetta Ferrère, with support provided by Myriam Issad .

At Herbert Smith Freehills Kramer LLP, practice head Louis De Longeaux is appointed by many French corporations, from the largest CAC 40 companies to SMEs, to assist with the setting up of EMTN programmes and to handle a wide array of transactions. Areas of strength include mid-to large bond issuances, convertibles, EuroPP and Schuldschein issuances. Associate Dylan Shields also deserves a mention.

Hogan Lovells (Paris) LLP‘s Paris-based team gathers French and UK capital markets expertise and can rely also on solid international capabilities when advising major French corporate issuers, especially in the energy sector, as well as leading French banks and international issuers. The team particularly assists clients with the establishment of large EMTN programmes and corresponding issuances, including green bonds and large private placement deals. Key names include market’s stateswoman Sharon Lewis, Vincent Fidelle, and counsel Reza Mulligan.

Led by Natalia Sauszyn, Jones Day's practice in Paris regularly handles international transactions, notably involving the US. The Paris based team also assists leading French issuers, including French corporations and financial institutions, with the update of EMTN programmes and subsequent large issuances. The team also has a strong presence among home loan financial issuers, which it advises on covered bond transactions. Associate Sarah Amarnath provides support.

Latham & Watkins stands out for its strong combined US and French law capabilities within its Paris office. The team can also rely on a strong international platform which allows it to handle a steady volume of US law and international transactions – the team is particularly known for its strong high-yield expertise. The practice regularly assists banks, underwriters, initial purchasers and issuers, including several French corporations, with mid to large bond issuances. Practice head Thomas Margenet-Baudry and Roberto Reyes Gaskin, who are both French and US qualified lawyers, are the key names. Supporting them is counsel Michael Ettannani.

Addleshaw Goddard‘s Charles Tissier assists banks and corporations with the issuance of public and private bonds, Euro PP transactions and with the setting up of EMTN programmes. Tissier also provides regulatory guidance.

Norton Rose Fulbright’s French and UK qualified practice head Jeremy Grant has strong international expertise, allowing the firm to assist international financial institutions, state entities and French and foreign issuers with US law transactions. Roberto Cristofolini co-leads alongside Grant. The practice also advises on Euro denominated bond issuances.

At Bentam Societe D'Avocats, Gautier Chavanet is a key adviser to many French regions and other local public entities for the update of their EMTN programmes. Chavanet also assists placing agents.

Orrick‘s Manaf Triqui assists investors, arrangers, and issuers with the subscription or issuance and consent solicitation work in relation to small cap DCM transactions. Triqui also regularly assists the insolvency department in dealing with the DCM aspects of debt restructuring situations.