Stephen Ashley is a partner in the New York office and a member of the firm's Capital Markets practice. He regularly represents both issuers and underwriters in a wide range of domestic and cross-border securities transactions.

Stephen's experience includes public offerings and private placements of common and preferred equity and investment grade, high yield and convertible debt securities, as well as liability management transactions such as exchange offers, tender offers and consent solicitations. He also advises clients on various compliance, corporate governance, stock exchange listing and other general corporate matters.  

Legal500 reported in 2016 that clients say Stephen “is very responsive, does thorough research and speaks in plain English.” He has advised companies from a wide range of industries, including the IT, software, finance, consumer products, biotechnology, pharmaceuticals, energy, infrastructure and transportation sectors.

Stephen is a member of Orrick's opinion committee.

  • Stephen's representative transactions include:

    • IPOs/equity offerings by Acorda Therapeutics, AMR Corporation, AxoGen, Benefitfocus, Consolidated Edison, Hecla Mining Company, Home Loan Servicing Solutions, Intercept Pharmaceuticals, Kansas City Southern, Legg Mason, On Deck Capital, Paylocity, Rapid7 and Shutterstock
    • Convertible bond offerings by AMR Corporation, Boston Private Financial Holdings, CapLease and Intercept Pharmaceuticals
    • Investment-grade debt financings by Gerdau, HSBC USA, ITR Concession Company, NOVA Chemicals and Novartis
    • High-yield debt offerings/refinancings by 361 Degrees International, Aeropuertos Dominicanos Siglo XXI (Aerodom), American Airlines, American Seafoods Group, Aurora Diagnostics Holdings, El Pollo Loco, Entravision Communications, Kansas City Southern de México, NII Holdings, Smurfit-Stone Container Enterprises, Southern Star Central Corp., Universal Hospital Services and Viking Cruises
    • Acquisition financing for IFM Investors' acquisition of ITR Concession Company (operator of the Indiana Toll Road), TPG Capital's acquisition of Par Pharmaceutical Companies, and V.F. Corporation's acquisition of the Timberland Company
    • Enhanced pass through trust certificate offerings by American Airlines and Delta Air Lines
    • Debt restructuring of Ford Motor Company and Ford Motor Credit Company to reduce total debt by US$9.9 billion
    • Asset-backed notes offering by John Deere Capital Corporation and implementation of shelf registration statement
    • Exempt secured notes offerings by Private Export Funding Corporation