The top bond counsel firms combined for a total of $200.965 billion in 4,673 transactions during the first half of the year, down from the $222.162 billion in 6,177 deals over the same period in 2021.

Only two firms remained in the same spot at this point last year: Orrick Herrington & Sutcliffe and Norton Rose Fulbright. Squire Patton Boggs, Butler Snow, Bryant Rabbino and Miller Canfield entered the top 10, while Stradling Yocca Carlson & Rauth, Chapman and Cutler, Gilmore & Bell and Ballard Spahr were bumped further down in the top 20.