Orrick remains No. 1 bond counsel in Q1 2025
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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 |
