Firms To Watch: Banking, finance and capital markets

Monard law, joined by Buyle acts for a wide range of banks, focusing on financial litigation relating to derivatives and regulatory issues, real estate financing, and aviation financing. The team is able to handle domestic and cross-border lending transactions. Jeroen Raskin, Benoit Samyn, and Stefaan Van Dyck are key contacts.

Banking, finance and capital markets in Belgium

Allen & Overy LLP

Allen & Overy LLP combines international finance work, standout debt capital markets expertise, and regulatory capabilities, advising an array of international banks and financial institutions, corporates, and project proponents. The firm works on a diverse range of mandates, encompassing project finance, acquisition finance, a growing number of IPOs, and securitisation, alongside innovative ESG financing and green bond matters. Filip Tanghe heads up the team, specialising in international projects work and financing matters, while Sylvia Kierszenbaum has long-standing experience in financial services regulation, as well as heading up the firm’s debt capital markets team. Yves Van Pul is a key name for leveraged finance and acquisition lending, while counsel Sophie Rutten handles equity capital markets, securities, and corporate finance matters. Julie Vander Donckt was promoted to counsel in April 2022 and is noted for her real estate capabilities and role on multi-jurisdictional transactions.

Practice head(s):

Filip Tanghe


Other key lawyers:

Sylvia Kierzenbaum; Sophie Rutten; Yves Van Pul; Julie Vander Donckt; Niels De Waele; Axel de Backer


Testimonials

‘Outstanding expertise. Global reach.’

‘Delivering good work, good communication between firm and client, quick follow-up.’

‘Efficient and clear approach towards the different works (drafting contracts, administrative formalities, etc). As the A&O office has strengths in multiple fields of law, they can also easily call upon expertise from other lawyers to help us when structuring a project.’

Key clients

Belfius


European Investment Bank


ING


International Swaps & Derivatives Association


KBC Bank


Natixis


La Lorraine Bakery Group


Belfius


ABN AMRO


Work highlights


  • Advised the issuer, DEME Group, a world leader in dredging, offshore energy, marine infrastructure and environmental solutions, on its listing on Euronext Brussels – upon listing DEME was valued at €2.43 billion.
  • Advised KBC and BNP Paribas Fortis, as coordinators, in respect of the financing of Asco Industries, a world leader in aerospace components industry.
  • Assisted Matexi with the set-up of a new commercial paper and medium term note programme based on green/sustainable principles.

Baker McKenzie CVBA/SCRL

Baker McKenzie CVBA/SCRL combines standout financing and capital markets expertise, handling the full range of matters for borrowers, lenders, issuers, and underwriters, including major corporates and financial institutions, such as acquisition finance and syndicated lending, financial services regulatory issues, and cross-border debt and equity offerings. The practice is led by Antoine De Raeve, who takes the lead on financing and banking work, alongside capital markets and corporate finance specialist Michael Van Acker and Roel Meers, who is also highly active on both sides of capital markets transactions. Koen Vanhaerents and Luc Meeus are noted for their cross-border public markets and fund-side advice, while senior associate Joren Janseunne advises on multi-jurisdictional financing and securitisation mandates.

Practice head(s):

Antoine De Raeve; Roel Meers; Michael Van Acker


Other key lawyers:

Joren Janseunne; Koen Vanhaerents


Testimonials

‘I mainly work with Luc Meeus for his in-depth knowledge of the fund structuring market. He combines tax and fund structuring and is very knowledgeable’

‘Pragmatic professionals who get the deal done smoothly. Working with them is always a joy as they are fast, good, pragmatic and excellent value for money.’

‘Antoine De Raeve is under our speed dial for any transaction in Benelux. He is knowledgeable, pragmatic, friendly and always gets the deal done at a good price.’

Key clients

Agristo


argenx


Bank Degroof Petercam


Belfius Bank


Biocartis


Bluegem Capital Partners LLP


BNP Paribas Fortis


Bridgepoint


Bryan, Garnier & Co


Caisse d’Epargne Hauts-de-France


Capital Royalty Group


Crédit Agricole CIB


CVC Credit


Equilis Europe


Equity Estate


Febelfin VZW


Federale Participatien Investeringsmaatschappij – Societe Federale De Participations et d’Investissements (FPIM-SFPI)


Firstrand Bank Ltd


Galapagos


Goldman Sachs International


ING


Joh. Berenberg, Gossler & Co. KG


KBC Bank


KBC Securities


Kempen & Co


MARK


MDxHealth


Mithra Pharmaceuticals


Natixis


Novo Nordisk


Orange Belgium SA (Independent Directors)


Participatiemaatschappij Vlaanderen


Resilux


Re-Vive


Sequana Medical


SRIW


Standard Chartered Bank


TINC


Traxys


Work highlights


  • Advised Standard Chartered Bank on the financing of the acquisition by Korean investment company KB Securities of the North Galaxy twin towers in Brussels, Belgium.
  • Advised Mithra Pharmaceuticals on its EUR 100 million equity funding from Goldman Sachs International.
  • Advised Sequana Medical, an innovator in the treatment of diuretic-resistant fluid overload in liver disease, malignant ascites and heart failure, listed on Euronext Brussels, on its EUR 28.4 million capital raising through an exempt accelerated bookbuild private placement of new shares with a listing on Euronext Brussels.

Clifford Chance

Clifford Chance advises domestic and international corporates, private equity investors, banks, and financial institutions on acquisition and project finance, complex restructurings, including cross-border arrangements, and capital markets matters particularly equity issues, and is also noted for regulatory expertise across the full range of work. The firm is noted for its work on renewable energy financing, alongside ESG issues in the sector more broadly. The team is led by Lounia Czupper, who advises on financing transactions as well as debt capital markets issues, Bert De Maeyer, noted for his work on complex restructurings as well as syndicated lending and project finance mandates, and Niek De Pauw, a key name for equity capital markets matters. Counsel Wim Aerts focuses on DCM work, while senior associate Hélène Volkova advises on a wide range of financing matters, as well as debt restructuring.

Practice head(s):

Bert De Maeyer; Lounia Czupper; Niek De Pauw


Other key lawyers:

Wim Aerts; Valérie Demeur


Testimonials

‘They are capable of working on very complex transaction, offering a wide range of services from traditional legal support to tax, debt funds structured advice.’

‘Quality of work – know what they are doing.’

‘Pro-active – timely delivery of services.’

‘Team provides consistent high level service. In my view, one of the leading firms in the Belgium market and one of our preferred choices. Strength around outside-the-box thinking and seamless integrative service. All around impressive expertise. Advises us on most strategic and complex work, very helpful that they also understand our business. Responsive and approachable across all levels.’

‘Niek de Pauw, clear leader, impressive knowledge, very responsive. On top of things. Clear oversight of the entire project.’

‘Very strong and complementary Belgium team benefiting from the unparalleled wider network of Clifford experts.’

‘Regarding Valérie Demeur, she is not only an outstanding lawyer but also a professional with an extensive network.’

Key clients

Patrizia


BNP Paribas Fortis SA/NV


Premia Holdings


Allianz Real Estate GmbH


AXA Group


EQT Exeter


Azelis


HSBC


ING


Traxys


Belfius Bank SA/NV


KBC Bank


KBC Securities


Citigroup Global Markets


Work highlights


  • Advising the lenders of Hamon & Cie (International) SA in connection with the insolvency proceedings opened in relation to Hamon & Cie (International) SA and certain of its subsidiaries in various jurisdictions.
  • Advised Azelis and its majority shareholder EQT, on Azelis’s initial public offering and the listing of its shares on Euronext Brussels.
  • Advised Patrizia as Sponsor on the amendment and restatement of the €118.3 million Facility Agreement for Solar Holdco SRL in connection with the financing of the acquisition by Patrizia of the Solar portfolio.

Linklaters

Linklaters advises major domestic and international financial institutions and corporates on the full range of lending transactions, regulatory issues, and debt and equity capital markets mandates, with a notable and growing capability in work for private equity funds on ESG-focused financing and capital raising transactions. The team has been active on broader ESG issues for financial institutions, including sustainable financing, green bonds, and internal social responsibility matters. Arnaud Coibion heads up the team, focusing on acquisition financing and IPOs, while Charles-Antoine Leunen advises issuers and borrowers on investment-grade and leveraged financing as well as loan restructuring. David Ballegeer takes the lead on capital markets work alongside ECM specialist Filip LecoutreAnne-Sophie Vankemmelbeke, whose standout expertise includes hybrid bonds and MTN programmes, was promoted to partner in May 2023. Francis Wijnakker was promoted to counsel in May 2022, and is an up-and coming leader in the team alongside managing associates Evita Bassot and Laurens Cools, who specialise in ECM and PPP matters respectively.

Practice head(s):

Arnaud Coibion


Other key lawyers:

Charles-Antoine Leunen; David Ballegeer Anne-Sophie Vankemmelbeke; Francis Wijnakker; Evita Bassot; Laurens Cools; Tom Cobbaert


Testimonials

‘The Linklaters team combines superior technical skills with market insights, commercial pragmatism and a wealth of experience.’

‘We particularly enjoy working with David Ballegeer, Francis Wijnakker and Tom Cobbaert, all stand-out individuals. The team is always appropriately staffed, available, responsive and commercially savvy.’

‘The practice is unique thanks to a dedicated and focused team with a wide experience on various financial instruments. The team also can easily provide access to other specialised resources within the firm thereby covering a large geographic and technical scope of services related to banking and finance.’

‘As partner in charge David Ballegeer has an in-depth technical and market knowledge enabling him to advise on contracts and instruments, complemented by a business approach. David has composed a specialized team, including amongst others Francis Wijnackers. Availability and focus of the team are great.’

‘Anne-Sophie Vankemmelbeke is a very dedicated lawyer, has a wide knowledge of market practices (especially in our industry) and has a good understanding of client and business requirements.’

‘Very broad experience. Very responsive.’

‘Charles-Antoine Leunen: very experienced, approachable, pragmatic, responsive. David Ballegeer: very experienced, approachable, pragmatic, responsive. Anne-Sophie Van Kemmelbeke: experienced, hard-working, responsive.’

‘All-round great team on all relevant aspects: negotiations, know-how, technical skills, project management, availability and cost management.’

Key clients

Cofinimmo


Euroclear


Immobel


Ontex


Sofina


Solvay


Aliaxis Finance


Ravago


Waterland Private Equity


D’Ieteren Automotive and D’Ieteren Group


Umicore


ING Belgium


Compagnie Nationale à Portefeuille


Elia


GBL


Work highlights


  • Advised Elia Group on its €590m rights issue, being the largest rights issue in Belgium since 2015.
  • Advised Ravago and its subsidiaries on its €1bn borrowing base multicurrency revolving credit facility agreement.
  • Advised Cofinimmo, a public regulated real estate company (REIT) and member of the BEL20, in relation to an issuance of €500m sustainable bonds due 24 January 2028

Jones Day

Jones Day handles complex, cross-border financing mandates, with a strong record advising lenders and borrowers on private equity acquisition finance transactions, as well as handling debt and equity capital markets work, debt restructuring, and financial services regulatory issues. Alongside private equity funds, the firm also advises international banks and corporates as well as public sector organisations. The team is led by Ferdinand Brughmans, who focuses on large-scale leveraged finance and syndicated lending deals, capital markets lead Matthieu Duplat, and Michèle Grégoire, who works with listed companies on loan restructuring and financial law issues.

Practice head(s):

Ferdinand Brughmans; Matthieu Duplat; Michèle Grégoire


Other key lawyers:

Laurent Vercauteren; Corentin De Jonghe; Aurélie Cautaerts


Testimonials

‘Diligent and good value for money.’

‘Pragmatic approach, very pleasant to work with, close partner involvement, defends the lenders’ rights in a good way.’

Key clients

Biobest Group NV


Buysse & Partners


BNP Paribas


Deutsche Bank


ING Bank NV


KBC Bank


Belfius Bank


UCB S.A.f


Sogepa


Ardent Group


Belgian Debt Agency (representing the Kingdom of Belgium)


Deutschsprachige Gemeinschaft Belgiens (German-speaking Community of Belgium)


Joh. Berenberg, Gossler & Co. KG


Morgan Stanley & Co. International plc


Wereldhave Belgium


Work highlights


  • Advised the Biobest group on the financing of its CAN 145 million acquisition of the Canadian company, Planet Products, by means of a EUR 35 million loan agreement and the issuance of CAD 40 million notes due 23 February 2022.
  • Assisting CNCM on questions related to prudential requirements under the European Banking Union.
  • Advised Compagnie du Bois Sauvage SA, a diversified holding company (Euronext Brussels-listed) on the sale of its controlling 27.03% equity stake in Recticel (Euronext Brussels-listed) to Austria-based Greiner AG for EUR 203.8 million.

Liedekerke

Liedekerke advises major Belgian banks on acquisition financing, energy finance, and refinancing mandates, as well as acting on the borrower side for loan restructurings, corporate lending, and private equity work. The firm also continues to expand its work across equity and debt capital markets work, including innovative green notes issues as well as IPO-related matters, with capital markets lead Wim Dedecker an active player for issuers and underwriters. Damien Conem  takes the lead on corporate finance work, while Freya Mareels specialises in the full range of banking matters and financing transactions, particularly cross-border work, supported by Thomas Vanthournout, who was promoted to counsel in January 2022 in recognition of his strong contribution to the team.

Practice head(s):

Damien Conem; Freya Mareels; Wim Dedecker


Other key lawyers:

Thomas Vanthournout; Reinout Vrielinck


Testimonials

Very efficient and ambitious team headed by two high potential partners, Wim Dedecker and Freya Mareels. The team is large enough to offer sufficient capacity, but at the same time close-nit so that a collective high standard is ensured.’

‘Wim Dedecker has built a strong track record in capital markets transactions, which he combines with a flourishing M&A practice. I would definitively recommend working with Wim given his expertise, his devotion and his particularly efficient conciliatory style.’

‘Very professional team with experience from international law firms.’

‘Partner on the deal was Freya Mareels, although day-to-day contact on the deal was mostly with Thomas Vanthournout. He understands very well the position of the lenders, is very reactive and easy to reach. The transaction was burdensome from a legal point of view, yet Mr Vanthournout managed the process very efficiently. He also took the initiative to liaise directly with the company counsel in order to tackle certain issues.’

‘Great team. High expertise, nice to work with & affordable.’

‘Wim Dedecker – sophisticated & creative. Freya Mareels – smart & extensive experience. Reinout Vrielinck – super smart & creative.’

‘Excellent price-quality ratio – constructive – willing to think outside the box.’

Key clients

Natixis


Trafigura


Sonaca


Postbank, a subsidiary of Deutsche Bank


APi Group


Total Energies Gas & Power, London, Meyrin-Geneva Branch


CGE Partners


U.S. Zinc North America


Flexsys Holdings


Argos Wityu


Innovatus Capital Partners


Belfius Bank


BNP Paribas Fortis


Bekaert


Work highlights


  • Acting as lender’s counsel to Natixis in connection with a revolving credit facility for Ageas SA/NV.
  • Assisting Belfius Bank and BNP Paribas Fortis in connection with the set-up of a EUR 100,000,000 Euro Medium Term Notes (EMTN) programme for Codic International SA and a first issuance under the programme of EUR 20,000,000 4.50% Fixed Rate Green Senior Notes listed on Euronext Growth.
  • Assisting Sonaca, active in the aviation sector, in connection with a refinancing of existing indebtedness, allowing Sonaca to extend the maturity of its credit facilities to 2026, and aimed at repayment in full of existing bilateral term debt and of a “covid-19 support” revolving facility granted in 2020.

Loyens & Loeff

Practical and to the point‘, the team at Loyens & Loeff offers a strong pan-European focus on project finance, real estate, and asset-based lending mandates, as well as debt capital markets and financial services regulatory work, regularly acting as the lead counsel on multi-jurisdictional renewable energy, infrastructure, and PPP projects. Clients include major European and international banks and financial institutions, as well as public and private sector project proponents. Marc Vermylen leads the team, offering standout asset-based lending and project finance capabilities, while Vanessa Marquette specialises in financial regulatory issues, and Koen Panis focuses on energy and infrastructure lending work. At senior associate level, Sarah Libregts advises on asset-based lending transactions across a variety of asset classes, combining this with capital markets expertise, while Mathias Diricx  focuses on cross-border receivables and Euroclear issues.

Practice head(s):

Marc Vermylen


Other key lawyers:

Eveline Hellebuyck; Vanessa Marquette; Koen Panis; Sarah Libregts; Mathias Diricx


Testimonials

Practical and to the point solutions are the strengths of the team. They know what banks are expected from the lawyers and relevant advice is given.’

‘Client-focused.

‘Direct access to managing partner, senior team members with great knowledge’

‘We appreciate the team expertise in finance related matters, not only the required legal items, but also a very strong understanding of the pure finance issues, as well as the bigger picture. Their sharp financial view reinforces strongly their role as legal advisor on financial matters. Collaboration with the team is always very fruitful and leads to important structural innovations.’

‘The team individuals have extended experience, and while being specialists in their legal domain, they have also a strong broad view on the entire business. Our collaboration with Marc Vermylen is always highly appreciated and leads to considerable added value. We appreciate a lot his extensive experience, strong financial views, outstanding legal competence and no-nonsense approach.’

‘The L&L team clearly works very well together. They are responsive, professional, considerate of the client’s primary time zone, and (perhaps most importantly) very patient with our various demands, ever-changing timelines, uncertain deadlines and evolving scope throughout the course of a transaction.’

‘While our firm’s main contact at L&L is Marc Vermylen, a partner, the majority of my team’s correspondence is with Sarah Libregts, a senior attorney in the Belgian office. Sarah is incredibly responsive, and her legal advice is consistently thoughtful and well-articulated. She does a really good job of laying out the pros and cons of an approach; describing whether a point is ultimately a legal or business consideration; and guiding our deliberation with practical suggestions.’

‘I have worked with the banking and finance team of Loyens & Loeff on a number of transactions. The team worked always to the highest satisfaction of myself and of our joint clients, it was always responsive and delivered highest quality.’

Key clients

Goldman Sachs International


European Investment Bank


Belfius


Natixis


JP Morgan


Deutsche Bank


Balta Group


Aluminium Duffel


Landesbank Hessen-Thüringen Girozentrale (Helaba)


Parkwind NV


Virya Energy


Norther


Eurofactor


Natixis


Région wallonne


Francisco Partners


Pure Energie


AEA Investors LP


Work highlights


  • Advised Belfius in connection with the financing of a 16 MW onshore wind farm in the Walloon Region, Belgium.
  • Advised the Walloon Region (Région wallonne) with the renewal of its EUR 25 billion Euro Medium Term Note Programme with co-arrangers HSBC Continental Europe and Belfius Bank.
  • Advised Aluminium Duffel on the refinancing of its existing indebtedness in connection with its acquisition by AIP.

Stibbe

Stibbe expanded its senior team with the promotion of Pieter Nobels, a specialist in debt capital markets including innovative green bonds, securitisation, and structured finance work, to partner in July 2022, and the January 2022 elevation of Pieter-Jan Leemen, a key name for acquisition, real estate, and project financing, to counsel. The firm continues to handle a wide range of financing mandates, including direct lending and club deals, on the borrower and lender-side, as well as maintaining an active role in DCM and project financing work. Wouter Ghijsels heads up the banking team, advising financial institutions, corporates, and public sector bodies on lending transactions, both domestic and cross-border.

Practice head(s):

Wouter Ghijsels


Other key lawyers:

Pieter Nobel; Pieter-Jan Leemen; Jan Peeters; Pascal Vanden Borre; Marie De Roeck


Testimonials

‘Great team- very efficient responsive and creative.’

‘Jan Peeters is outstanding and covering all grounds. Giving opportunities for the rest of the team to shine while having an eye on all parts of the transactions.’

‘Senior involvement of Stibbe people, pragmatic approach, not fighting for principles but seeking pragmatic solutions.’

‘Expertise in the financial markets.’

‘Marie De Roeck: able to manage a lot of work in a short timeframe.’

‘Stibbe has the unique capability to have the utmost professional and legally savvy team combined with strong commercial and client-focused thinking.’

‘Jan Peeters- Making complex client ideas seamless in execution and finding a way to merge client expectations with long term legal robustness is what makes Jan an incredibly strong partner, both at the negotiation table and when drawing up the legal documents to back up the discussions.’

Work highlights


  • Assisted Lone Star Funds with the acquisition finance package for the acquisition of 100% of the share capital of Manuchar NV.
  • Assisted BNP Paribas and ING Bank as joint lead managers of Leaseplan’s first public car lease securitisation in Belgium.
  • Assisted Brookfield Asset Management with its public takeover bid on Befimmo SA, a Belgian real estate investment trust (BE-REIT) listed on Euronext Brussels.

White & Case LLP

White & Case LLP stands out for its debt finance capabilities, advising a number of financial institutions, corporates, and particularly private equity funds on acquisition financing, as well as offering a strong debt capital markets practice, covering retail bond issuances, convertibles, and private placements. The team is also noted for its work on holdco PIK financing, a developing trend in the market. Thierry Bosly, an experienced practitioner who focuses on financing transactions and restructuring work, leads the team alongside Hadrien Servais, a leading name for acquisition and leveraged finance, and counsel Willem Van De Wiele, a ‘true expert‘ who takes the lead on capital markets work. Associate Eline Souffriau has been active in a number of cross-border and Benelux-wide debt financing transactions.

Practice head(s):

Thierry Bosly; Hadrien Servais; Willem Van de Wiele


Other key lawyers:

Eline Souffriau


Testimonials

Willem van de Wiele is a true expert in his field of expertise, very pleasant to work with and not afraid to take a position if even the law remains unclear.’

‘Willem Van de Wiele- Outstanding technical expertise and market knowledge, and at the same time solution-oriented.’

‘The Team is very responsive, reactive, business-oriented, and very commercial as well.’

‘Hadrien Servais, is in particular, very involved, very responsive, accurate, and business-oriented.’

‘Willem Van de Wiele is a very pro-business lawyer, keen to develop imaginative (but convincing) argument to help his clients achieve their goals. This is very appreciated.’

‘Hadrien Servais and his team have managed to become a go to advisor on leveraged finance transactions in the Benelux and the wider continental European market. Unlike other teams in Belgium, the White & Case team advise on many non-Belgian transactions, including large-cap transactions. The team are excellent to work with. They provide best-in-class legal and documentation quality and service.’

‘Hadrien Servais is responsible for White & Case entering this market and achieving this position in the market. He is an excellent lawyer and deal maker. Very co-operative. He is supported by Eline Souffriau who is a best-in-class associate (as well as by other associates, but Eline has supported him for multiple years already and she is fully aligned with Hadrien’s way of working).’

‘One of the very few practices able to combine top-tier experience in European space with local knowledge.’

Key clients

Alcentra


Aliaxis


Ardian


Armonea


Aurubis


ABN AMRO Bank


Bank of America Merrill Lynch


Barclays


Baring Asset Management Limited


Belfius


Bluebay Asset Management


BNP Paribas Fortis


Capital Four


Castik Capital Partners


Cobepa


Commerzbank


Coöperatieve Rabobank U.A.


Crédit Agricole Corporate and Investment Bank


Credit Suisse


Crelan SA


CVC Capital Partners


CVC Credit


Deutsche Bank


Diaverum


DNB Bank


Elia System Operator


EQT Credit


The European Investment Bank


Euroports


Goldman Sachs Private Credit


GSO Capital Partners


Hamon & Cie


Hayfin


HSBC


Huvepharma


Ideal Standard


IK Investment Partners


ING


JPMorgan


KBC Bank


Le Pain Quotidien


Mithra Pharmaceuticals


Morgan Stanley


Natixis


NatWest Markets


Nordea Bank


Nurtra


Park Square


Partners Group


Plukon


Royal Bank of Canada


Santander


SD Worx


SettleMint


Siemens Bank


Sumitomo Mitsui Banking Corporation


Société Générale


Tikehau


Triton Partners


UBS


UniCredit


Work highlights


  • Represented Hayfin Capital Management, a top-tier debt fund, as senior lender and ABN AMRO BANK N.V. as super senior lender in connection with a unitranche financing for Sun Capital Partners’ acquisition of Belgium-headquartered Sports & Leisure Group.
  • Advised Baring Asset Management as lender on the unitranche financing for the acquisition of Belgium-headquartered Trustteam by Rivean Capital.
  • Advised Crelan SA/NV on the establishment of EUR 3bio EMTN programme.

ARGO Law

Led by investment funds and capital markets-focused Nico Goossens and banking and financial services regulatory specialist Pieter Bogaerts, ARGO Law has a strong focus on private equity lending, advising international banks and investment funds on acquisition finance, refinancing, and loan structuring, as well as increasing its work with banks and corporates on capital markets mandates, notably bonds issues, including innovative green bonds work.

Practice head(s):

Nico Goossens; Pieter Bogaerts


Other key lawyers:

Christophe Verhelst


Testimonials

‘Hands on, open and clear.’

‘Christophe Verhelst – takes the lead and manages processes efficiently and communicatively.’

‘Excellent understanding of the topic, quick and cooperative approach, decent pricing.’

‘Very pragmatic and hands-on.’

‘Good banking and finance team.’

Key clients

Waterland Private Equity


KBC Bank


ING Belgium


Belfius Bank


AAC Capital


CMB


Asteria Group


Sofindev


VGP


Vectis Private Equity


Quva NV


Lotus Bakeries


Baltisse


Fortino Capital


Work highlights


  • Advised VGP NV on the EUR 1,000 million green bond issuance through a dual tranche offering and its listing on the Luxembourg Stock Exchange (EuroMTF).
  • Advised Asteria Group (backed by Waterland Private Equity) as well as its lenders as lead transaction counsel in relation to five amendments and restatements of the Asteria group’s financing arrangements.
  • Advised Lotus Bakeries and its family shareholders on a EUR 326.5 million private placement of existing shares through an accelerated bookbuild offering.

Ashurst LLP

Ashurst LLP advises major international banks, corporates, and investment funds on an array of financing and lending transactions, including a number of cross-border mandates, with standout work in real estate financing and structured products, alongside acquisition and corporate finance, debt restructuring, and refinancings. The team is led by Arnaud Wtterwulghe, who has broad experience across financing and securities matters, acting on both the borrower and lender-side, while senior associate Bram Delmotte is noted for his work with investment funds.

Practice head(s):

Arnaud Wtterwulghe


Other key lawyers:

Bram Delmotte


Testimonials

‘Excellent team, on top of things.’

‘Arnaud Wtterwulghe is outstanding, both technically and in collaboration.’

Key clients

The senior secured noteholders to CWT (formerly known as Carlson Wagonlit Travel) Group


Goldman Sachs


Citibank


Barclays


Dexia


Work highlights


  • Advised the senior secured noteholders to the CWT Group in relation to, amongst others, secured notes, floating-rate senior secured notes, amendment and restatement agreement of a USD 150 million revolving credit facilities agreement, replacement of the security agent in the relation to the Belgian security package and assisted with a US Chapter 11 reorganisation procedure in relation to the Belgian security package.
  • Assisted Goldman Sachs, Citibank and Barclays in respect of their notes, warrants and certificates issuance programmes to ensure consistency of the terms hereof with the Belgian Code of Economic Law and, in particular, the provisions in respect of unfair terms.
  • Advised Dexia Crédit Local on its EUR 45 billion Guaranteed Euro Medium Term Note Programme, its USD 20 billion Guaranteed US Medium Term Note Programme, its EUR 5 billion Guaranteed Negotiable European Commercial Paper Programme, its EUR 30 billion Guaranteed European Commercial Paper Programme and its USD 10 billion Commercial Paper Programme.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton has a strong profile in international financing work, most notably advising sovereign clients and project proponents on acquisition and infrastructure-focused transactions, with a standout focus on Africa-domiciled work. The team regularly works with its Paris and London offices on cross-border mandates, and is also able to advise on equity and debt capital markets issues and securitisation, alongside corporate refinancing mandates. Promoted to counsel in January 2022, Christophe Wauters heads up the team, specialising in international finance work, while Marijke Spooren was raised to partner in January 2022, and combines complex financing expertise with an increasing focus on equity capital markets.

Practice head(s):

Christophe Wauters


Other key lawyers:

Marijke Spooren; Laurent Legein; Laurent Ruzette


Testimonials

‘Diverse and competent team with deep knowledge of African issues.’

‘Timely and excellent advice.’

Key clients

Goodyear


ArcelorMittal


Axéréal


Befimmo


BNP Paribas Fortis


Bpost


CMA CGM


Collibra


Infrabel


Société Africaine de Raffinage (SAR)


Ping An


Institut Pasteur Dakar


Société des Hydrocarbures du Tchad (SHT)


Société des Pétroles du Sénégal (PETROSEN)


The Republic of Benin


The Republic of Côte d’Ivoire


The Republic of Senegal


Work highlights


  • Assisting the Institut Pasteur de Dakar (IPD) in the development and financing of a large-scale manufacturing facility for the production of vaccines against COVID-19 and other endemic diseases.
  • Represented Société Africaine de Raffinage (SAR), the Senegalese oil refinery company, in connection with a EUR 90 million secured bridge facility agreement entered into with Africa Finance Corporation (AFC) as arranger and original lender to refinance part of SAR’s existing debt and to finance the construction costs for the increase of its refining capacity.
  • Represented Goodyear in the renewal, amendment and restatement of its pan-European securitization.

CMS

CMS combines strong lender and borrower-side capabilities, advising banks, public sector bodies, and corporates on a variety of facilities, financing arrangements, and private placements, with particularly notable work in the field of green and ESG financing. The firm works with major domestic names as well as international lenders, particularly French and German banks, as well as handling mandates involving US and Canadian parties. The team is led by Benoît Vandervelde, whose expertise includes syndicated lending and other complex facilities, Bruno Duquesne, who focuses on property transactions, and Arnaud Van Oekel, who advises on acquisition financing and debt restructuring.

Practice head(s):

Benoît Vandervelde; Arnaud Van Oekel; Bruno Duquesne


Testimonials

‘I worked with the team/law firm a first time this year and was pleasantly surprised with the professionalism in an inaugural large deal. The team was always available and helpful with expert advice and despite very tight deadlines (we were convinced it would be almost impossible to obtain, but they did). It is always difficult to adjust to each other’s style in a first time working together, however this was no issue.’

‘The two partners involved in the deal, Benoit Vandervelde and Bruno Duquesne, did well in summarizing main issues without getting lost in details that are not that important for banks. Despite us being new in the deal, they gave the same attention and weight to our concerns as the remaining incumbent lender, which is not evident, and put time pressure on client and his counsel at the correct moments. I had the feeling they did everything they could to represent us well and maximized their attention on the file.’

‘Excellent negotiating skills – Superior knowledge of LMA documentation compared to the borrower’s counsel. Strong involvement of two partners on our deal – Excellent knowledge of Dutch, French and English which was relevant in this case.’

Key clients

HSBC France and Belfius Bank


Pricoa Capital


Kyndryl


Proximus


Munchenerhypotheekbank


Gryphon


Investcorp


BBVA


JP Morgan


Helaba


Superbet


Apcoa Parking


Mowi


UBS Asset Management


Opel Finance


RCI Financial Services


Aareal Bank


Banque Populaire


Barings


Work highlights


  • Advised HSBC France and Belfius Bank as co-lead arrangers in the setting-up of a EUR 25 billion EMTN programme for the Belgian Federal Region of Wallonia.
  • Advised Proximus as sponsor of an optical fibre green loan financing granted to its joint venture Unifiber by a consortium of European banks.
  • Advised Pricoa (Prudential) in connection with a US private placement governed by Belgian law, with bonds issued by the Canadian subsidiary of Belgian group Biobest.

Deloitte Legal

Praised as ‘easy to work with‘, the team at Deloitte Legal advises corporates, investment funds, and financial services institutions, primarily on the borrower and issuer-side, on acquisition, sustainable, and public sector finance, loan restructuring, and capital markets mandates, including debt and equity issuances as well as initial coin offerings. The team leverages its global platform to handle cross-border matters, and also handles regulatory considerations. The practice is led by David Roelens, who is focused on transactions and financing, and Laurent Godts, who takes the lead on banking work. Werner Van Lembergen retired in late 2021.

Practice head(s):

David Roelens; Laurent Godts


Other key lawyers:

Sophie Wyckmans


Testimonials

‘Willingness to find solutions for complex issues.’

‘Laurent Godts; Hands on mentality. Is able to translate complicated issues into understandable items.’

‘The team is very knowledgeable and efficient. They are a full-service legal team.’

‘I think highly of partner David Roelens and associate Sophie Wyckmans. They are both easy to work with.’

‘They are very proactive and business-minded.’

‘Laurent Godts is very responsive.’

Key clients

Xior Student Housing NV


Gigarant NV


Architas NV


International Car Lease Holding & Van Mossel Automotive Group


Inbiose NV


S-Biomedics NV


PMV NV (Welvaartsfonds)


Home Invest Belgium NV


Pharmasimple


Tikehau


Milcobel


Accentis NV


Intigriti NV


Precirix NV


Sapec SA


DLA Piper

DLA Piper bolstered its practice with the September 2022 arrival of Caroline Hoste from Lydian, strengthening the firm’s project and leveraged finance expertise. The firm continues to advise banks and corporates, both lender and borrower, on a wide range of real estate and corporate financing mandates, as well as handling financial services regulatory concerns for innovation-focused clients through the specialist expertise of practice head Pierre Berger. Orestis Omran works with a number of Greek clients on cross-border financing and securitisation mandates, while Sander Buysse, promoted to counsel in May 2022, now leads the team’s transactional financing work, particularly within real estate.

Practice head(s):

Pierre Berger


Other key lawyers:

Caroline Hoste; Helene Van Steenberge; Sander Bussye; Orestis Omran


Testimonials

‘The team has an in-depth knowledge and understanding of the financial sector in all its aspects (financing, investment services, asset management).’

‘Pierre Berger – detailed knowledge of all topics in the financial sector and ready to think out-of-the-box. Michael Heene – Very practical M&A lawyer with a down to earth mentality.

‘The team’s ability to handle complex banking and finance matters is one of a kind. From our continuous collaboration, I can confirm that the team comprises of high skilled finance lawyers who know exactly how to prioritize the numerous tasks and coordinate efficiently to facilitate each deal. Their technical expertise in international transactions is unmatched in the market.’

‘Orestis Omran is a leading lawyer in the field of banking and finance. His involvement in high profile complex finance transactions has given him an undeniable number of skills that are reflected in every step of the transaction process. Having worked with a vast variety of big players like credit and financial institutions and financial supervision authorities, Orestis possesses a unique ability not only to advise and assist the progress of many multi-jurisdictional deals, but also to create new ones, by bringing together different actors and stakeholders. Orestis is a real closer – he has a unique capacity to close finance deals and that is reflected in his negotiation strategies.’

‘The DLA’s team is very experienced in banking and finance matters. I have had positive experiences during our 5 years I have been working with them. Their ability to provide comprehensive banking and finance advice and to resolve complex problems, sort out the important issues, and then find the optimal way forward is commendable. DLA’s practice focuses on traditional banking, financing and NPL portfolio sales and securitizations and they handle both secured and unsecured transactions.’

‘Orestis Omran is methodical, consistent and very efficient. Everyone in our team wants to work with him. He explains complex finance matters in a smooth and easy to understand manner and makes us feel comfortable every time that we understand the risks involved in the different segments of a finance transaction. He is one of a kind.’

‘The team handles a great volume of cross-border transactions, providing industry expertise across a variety of matters, including offerings of debt instruments, mergers and demergers in the banking sector, non-performing loan (NPL) transactions, securitisations, financial regulation, and restructurings and insolvency. Through our collaboration, I can ensure that the team has a high level of knowledge of the relevant regulatory framework related to finance and banking matters and comprises truly talented lawyers who are extremely aware of the law, the market practices and the structure of several complex banking and finance deals. They are truly distinguished by the quick turnaround times and their willingness to go above and beyond to accommodate the needs of their clients.’

‘Orestis Omran is an exceptional banking and finance expert. His skill set, adaptiveness and communication tactics, are unmatched. His specialized legal knowledge as well as his ability to explain complex finance and banking matters set him apart from all other lawyers in this field.’

Key clients

ABN AMRO Bank N.V.


AG Insurance NV


Amonis OFP


Aion NV


Alan SA


Alpha Bank


Alpha Card CBA


Antwerp World Diamond Centre (AWDC)


Argenta group


Attica Bank S.A.


Axa Bank Belgium NV


Bancontact Payconiq Company NV


Bank Degroof Petercam Asset Management NV


Banxa Holdings Inc.


Bayern LB


Belfius Bank NV/SA


Belfius Investment Partners NV


Berlin Hyp


Bitstamp


Blox


BNP Paribas Fortis


bpPost NV/SA


Canadian Imperial Bank of Commerce


Capfi Delen Asset Management


Chess Capital


D2X Group


Delen Private Bank NV


Deutsche Bank


Discai NV


Doccle BV


Engineers & Public Works Contractors Fund (TMEDE)


Eurobank S.A.


European Commission


Fortino Capital Partners NV


Helaba


iBanFirst SA


ICICI Bank


ING België NV


ING Solutions Investment Management NV


Intrum AB


Invest for Jobs NV


Isabel NV


ISDA International Swaps and Derivatives Association Inc.


Keyrock SA


KBC Asset Management NV


KBC Group NV


Kuwait Petroleum (Belgium) NV (Q8)


Lukoil Belgium NV


MGF (EU) Limited NV


Minna Technologies AB


Miraclon


National Bank of Greece


Natwest Markets NV


Netoil Capital Limited


Optima Bank


Pensioenfonds Metaal OFP


Piraeus Bank S.A.


POM NV


RIA Payment Institution


SharpX


Single Resolution Board


Sumitomo Mitsui Banking Corporation


The Bank of New York Mellon


Tioga Capital Partners


Top Tier Access Partners BV


Travelex Acquisitionco Limited


Tsakos Energy Navigation LTD


Unifiedpost NV and Unifiedpost Payments NV


Visa Inc.


Work highlights


  • Advised SD Worx on a syndicated financing by a club of Belgian lenders.
  • Advising KBC Group on the commercialisation of an AI-driven tool to enhance and automate compliance with AML requirements, via a spin-out legal entity (Discai), both in Belgium and other selected EU and non-EU countries.
  • Advising Intrum as bidder and proposed investor on the potential sale of a Greek securitised portfolio of non-performing loans with a current total legal claim of c. EUR 2.6bn and gross book value of EUR 627m.

Eubelius

The ‘pragmatic‘ and ‘flexible‘ team at Eubelius advises banks and corporates on the borrower and lender-side, with particular strength in acting for borrowers on real estate finance, acquisition and corporate financing, and PPP-related loans, as well as handling debt capital markets work including sustainable finance and accelerated book-builds. The practice is headed up by Lars Van Bever, who handles financing and debt issues, capital markets and public companies specialist Joris De Wolf, who was promoted to partner in December 2021, Matthias Wauters, and Thomas Donnez.

Practice head(s):

Lars Van Bever; Thomas Donnez; Joris De Wolf; Matthias Wauters


Testimonials

‘The team was always on top of things and helped us efficiently and effectively. Their problem-solving attitude made a big difference bringing our project to a good end.’

‘The team I worked with is not only very professional but fast, kind and to the point.’

‘Their knowledge about financial markets combined with the complexity of the legal aspect of hour holding with 2 different countries. The lawyers were able to talk, write in 3 languages fluently. There was no delay when questions were asked and could find solutions to difficult challenges.’

‘Very talented lawyers, real experts in their respective domains. Also a great corporate culture – nice people to work with.’

‘We have worked with Matthias Wauters for over 20 years. He is outstanding both on a technical level and on a strategical level. He has helped us navigate in sometimes very complex situations. He is held in high regard within our group, a position that is well deserved given his track record.’

‘The capital markets team at Eubelius is very knowledgeable, without being too theoretical. I would always go to them for a major capital markets transaction.’

‘Joris De Wolf is one of the smartest and most thorough people I have ever worked with. I would never have an issue with relying on his work.’

Key clients

Acacia Pharma Group


Asco Industries


Aster


Batopin


Belgian Debt Agency (Belgian Federal State)


Bonyf


Care-Ion


Care Property Invest


Hyloris Pharmaceuticals


ING Bank


Materialise


Nextensa


Puratos


Retail Estates


Warehouses De Pauw


Work highlights


  • Assisted Acacia Pharma Group in relation to its take-private by Eagle Pharmaceuticals by way of a UK scheme of arrangement.
  • Assisted Retail Estates in relation to its private placement of EUR 55 million new shares in an accelerated bookbuilding.
  • Assisted Puratos on its EUR 1 billion sustainable financing through a private placement of bonds to a group of US investors.

Fieldfisher

Fieldfisher‘s ‘hardworking and diligent‘ team continues to establish itself in the market, primarily handling acquisition and leveraged finance, real estate, project, and corporate financing, and debt capital markets mandates. The team also offers financial services regulatory expertise, both Belgian and EU-wide, with strong Benelux connections. Clients include banks, investment funds, and corporates in various industries, with the team acting on both the borrower and lender-side. Sofie Heremans heads up the practice, advising on a diverse range of financing transactions, including cross-border arrangements, while Dorothée Vanderhofstadt  advises clients ranging from start-ups to multinationals on DCM issues.

Practice head(s):

Sofie Heremans


Other key lawyers:

Dorothée Vanderhofstadt


Testimonials

‘Fieldfisher has a hardworking and diligent team.’

‘Sofie Heremansis always available, hard-working and precise. She is also open to pragmatic solutions to avoid unnecessary back-and-forths.’

‘Proactive, no nonsense approach, competitive fees, up to speed with new technology.’

‘Very pragmatic and flexible approach, Deep knowledge of banking and finance’

‘Pro active, pleasant to work with, professional.’

‘We have worked with many firms for banking & finance. What makes this practice unique, is that it feels like a boutique firm in terms of involvedness of the partners, but at the same time it has a strong international reach, with very capable teams in London and other European financial centres. This makes them ideal for both domestic and cross-border financing transactions.’

‘Sofie Heremans is our go-to partner in the practice. She has a great team, but is always personally involved in the management of the deal, from beginning to end. Partners who are technical experts as well as good project managers are rare, but Sofie is one of them. We also like that she’s active both as borrower’s and lender’s counsel. This gives her a very good perspective on the demands and expectations of both sides. And it makes negotiations so much more efficient.’

Key clients

Sibelco


Sigmaroc


RCB Bank


Siat


Sereni


Elawan Energy


Gigarant (Flemish Government’s Guarantee Fund)


Belfius Bank


KBC Bank


Storm


GBA Group


Letsbuild


Swen Capital Partners


Baltisse


Tinc


DG Infra Yield


Whitehawk Capital Partners


3D Investors


Triodos Bank


Mediagenix


Menapy


Work highlights


  • Advised the Sereni group on the unitranche financing put in place for future acquisitions (and the refinancing of existing debt).
  • Assisted Spanish wind farm developer Elawan Energy with the financing put in place (by Triodos Bank) for an extension of their wind farm in the Hannut commune in the Walloon region of Belgium.
  • Assisted private credit investment manager WhiteHawk Capital Partners with a $68.5 million credit facility provided to Boxlight Corporation.

Hogan Lovells International LLP

Specialising in securitisation, regulated lending, and innovative issues relating to crypto and blockchain, the team at Hogan Lovells International LLP works with banks and financial institutions on an array of matters ranging from lending and financing transactions through to the launch of new products and associated regulatory issues,  and debt capital markets matters. The team is led by Ivan Peeters and Philip Van Steenwinkel, both highly experienced across financial transactions and regulatory issues, with senior associate Charles-Henri Bernard also a key name for work with credit institutions, banks, and investment funds.

Practice head(s):

Ivan Peeters; Philip Van Steenwinkel


Other key lawyers:

Charles-Henri Bernard


Testimonials

The team of Ivan Peeters and Philip Van Steenwinkel has a longstanding track record in Belgian structured finance transaction, dating back to the very early days of the development of securitisations in Belgium.

Philip Van Steenwinkel has a hands-on approach to address the different issues to which you may be confronted during a structured finance process.

‘Strong support from partners & associates if and when requested – High degree of knowledge what make them strong in finding solutions or proposing improvements (proactive and reactive).

Breadth and depth of expertise on structured finance.

Philip Van Steenwinkel- Strong engagement, positive attitude, a solution finder.

The team has a proven track record on banking and fund (re)structuring projects. A great mix of expertise and knowledge. The team is very accessible and has a clear communication style.

Their knowledge in the field is unmatched. They have a strong and stable team and always deliver solidly.

Charles-Henri Bernard has great hands-on experience and a broad knowledge applicable to the practical questions financial players may have. Very accessible and very clear in his communications. Very enjoyable to work with.

Key clients

ABN Amro


Advanzia Bank


Aion Bank


Alter Domus LLC


Amazon


Amazon Pay (Amazon Payment Europe)


Argenta Bank


Bank Delen


Bank of New York Mellon


Baring Asset Management


Belfius Bank


Bitstamp


BNP Paribas


BNP Paribas Fortis


Buy Way


Capfi Delen Asset Management


Capital@Work


Communauté française de Belgique


Coöperative Rabobank UA


Crédit Agricole Corporate Investment Bank


Euroclear


Euroclear Bank


EuropAssistance


Goldman Sachs


Her Majesty’s Treasury (HMT)


ING Bank


ING Belgium


Investec Bank Plc


KBC Bank


Lease Plan


Lufthansa


M&G Residential Fund


Morgan Stanley


National Australia Bank Ltd


Patronale Life


Prudential


SFAM Assurance / Indexia


Single Resolution Board


Société Générale


TowerBrook Capital Partners


Volkswagen Financial Services


Western Union


Wise (formerly Transferwise)


ABN Amro


Advanzia Bank


Aion Bank


Alter Domus LLC


Amazon


Amazon Pay (Amazon Payment Europe)


Argenta Bank


Bank Delen


Bank of New York Mellon


Baring Asset Management


Belfius Bank


Bitstamp


BNP Paribas


BNP Paribas Fortis


Buy Way


Capfi Delen Asset Management


Capital@Work


Communauté française de Belgique


Coöperative Rabobank UA


Crédit Agricole Corporate Investment Bank


Euroclear


Euroclear Bank


EuropAssistance


Goldman Sachs


Her Majesty’s Treasury (HMT)


ING Bank


ING Belgium


Investec Bank Plc


KBC Bank


Lease Plan


Lufthansa


M&G Residential Fund


Morgan Stanley


National Australia Bank Ltd


Patronale Life


Prudential


SFAM Assurance / Indexia


Single Resolution Board


Société Générale


TowerBrook Capital Partners


Volkswagen Financial Services


Western Union


Wise (formerly Transferwise)


Work highlights


  • Advised and assisted KBC Bank with the update of its EUR 17,500,000,000 Belgian Covered Bonds Programme.
  • Advised LeasePlan on a landmark EUR 675 million STS securitisation transaction involving its Belgian leasing fleet.
  • Advised Jackie Threehorn, a blockchain consortium, as Belgian counsel with the structuring and launch of a first art tokenisation project in Belgium for the Museum of Fine Arts in Antwerp, tokenizing the artwork Carnival of Binche of James Ensor.

Lydian

The ‘responsive‘ and ‘knowledgeable‘ team at Lydian focuses on asset-based lending and acquisition finance transactions, working primarily with domestic borrowers on Belgian-based mandates, and international lenders on international arrangements, The firm also regularly receives referrals from major US and global law firms as Belgian law counsel for complex multi-jurisdictional arrangements. The ‘exceptionalTom Geudens  heads up the team, combining corporate lending experience with work on project financing, loan restructuring, and financial services regulatory issues.

Practice head(s):

Tom Geudens


Testimonials

The team led by Tom Geudens has assisted us in a complex acquisition finance transaction concerning both Dutch and Belgian entities and several layers of financing. Lydian expertly advised on and assisted with structuring the financing in relation to the Belgian entities, while negotiating the documentation with opposing counsel, and navigating the local governmental requirements. Tom’s team is practical, efficient and very pleasant to work with.’

‘A great team delivering timely and client-friendly advice. Always a pleasure to work with and always my preferred choice in relation to any banking/ finance matters in Belgium.’

‘Tom Geudens is exceptional. His knowledge of the area is first-rate – and his responsiveness and availability are always appreciated. A brilliant ability to communicate complex ideas in a manner which is easy to understand.’

‘Tom Geudens and his team are excellent.’

‘Very reactive, very professional, available when needed, excellent quality of expertise in financing.’

‘Tom Geudens knows his market very well, his advice is always deal oriented but highly technical.’

‘Tom Guedens went above and beyond to advise and deliver.’

‘The team were responsive and clearly knowledgeable about their practice area.’

Key clients

AIG Europe Ltd


Allianz Global Corporate


Deutsche Bank Capital Markets


Société Générale


Crédit Agricole


HDI-Gerling Verzekeringen NV


XL Catlin / XL Catlin Insurance Company SE / XL Catlin Services SE, now: Financial Insurance Company td. c/o AXA


Amlin Insurance SE


Zurich Insurance Plc


CNA Insurance Company Ltd


Royal & Sun Alliance Insurance (Global)


Aon Belgium BVBA / Aon Consulting Belgium NV


Ergo Insurance NV


Ethias SA


Belfius Bank NV


Baloise Belgium NV


AEGON NV


Qover NV


P&V Verzekeringen CVBA


SEB Life International Assurance Company


Dual Corporate Risks Ltd.


ARAG SE – Branch Belgium


DAS Belgische Rechtsbijstandsverzekering


FWU Life Insurance Luxembourg S.A.


Hiscox Europe Underwriting Limited


STIB-MIVB


TVM België N.V.


Liberty Mutual Group


Beluga Insurance Solutions NV


Alta Signa Group


Immoweb Financial Services SA


Arval


DKV


CME


Merian


SNS Bank


Federale Pensions


PMV (Flemish Investment Fund)


BTMU


Adams Street Partners


N26 Bank


TD Securities


White Rock Insurance


ANZ Bank


Mercedes


Royal Bank of Canada


Argenta Bank


Lufthansa Airplus


KBC Bank NV


Bank of America


Deutsche Bank


Commerzbank


Wells Fargo


National Westminster Bank


Equistone


United Rentals


Burgo Ardennes SA


Hitachi Capital


TMF Group


ABN Amro Bank N.V.


Andera Partners


Work highlights


  • Assisted Andera Partners relating to the EUR 24,144,000 acquisition financing of the Elan Group, the leading technology platform for translation services in the Benelux, arranged by KBC Bank NV.
  • Advised the TSG Group in connection with a EUR 390,000,000 senior facilities agreement, arranged by J.P. Morgan SE, ING Bank NV (acting through its French Branch) and Société Générale.
  • Advised the lenders in connection with the EUR 200,000,000 financing arrangement made available to X-Fab Silicon Foundries SE and certain of its subsidiaries.

NautaDutilh

NautaDutilh continues to stand out for its work on IPOs, acting for both issues and underwriters, and debt finance, including large-scale project and PPP financing, real estate finance, and asset-based lending. The firm acts for a number of international banks, as well as REITs, private equity funds, and major companies in the biotech space, regularly advising on cross-border mandates. Practice co-head Thibaut Willems has played a leading role in a number of high-profile PPP and real estate financing mandates, including several complex cross-border arrangements, while co-head Nicolas de Crombrugghe is noted for his strength in ECM matters, particularly IPOs, as well as debt issuances. Counsel Nathalie Van Landuyt advises on syndicated and non-syndicated lending and asset finance.

Practice head(s):

Thibaut Willems; Nicolas de Crombrugghe


Other key lawyers:

Nathalie Van Landuyt


Testimonials

‘Thorough knowledge in various areas.’

‘Strong legal expertise – in-depth market knowledge, in particular in the real estate sector.’

‘Well qualified team with good contacts with FSMA and regulatory authorities.’

‘Nicolas de Crombrugghe is a very pragmatic lawyer with a problem-solving approach.’

‘Particular strong points of the team are: – Efficiency and hands-on approach. – Strong focus on finding solutions. Result driven.’

‘We particularly enjoyed working with: – Thibaut Willems: broad knowledge and able to think out of the box to find solutions. – Ruben Kenis: very customer oriented and efficiently managing the documentation process.’

‘I consider the Nauta team in Belgium to be my first port of call for Belgian law advice. They are highly knowledgeable, give practical advice and very responsive to client requests – all key points when managing a deal across numerous jurisdictions.’

Key clients

ABN AMRO Bank


Aedifica


AG Real Estate


Ares Management Ltd


argenx


Ascencio


Atenor


Bain Capital Private Equity


Bausch Health


Bayerische Landesbank


Belfius


BNP Paribas


Citibank


Clayton Dubilier & Rice


Colruyt


Cowen & Co


CWT (formerly Carlson Wagonlit Travel)


Diversey


Electrabel CoGreen


ENGIE Electrabel


INEOS


Invesis (formerly BAM PPP)


JPMorgan Chase


KBC Securities


Komatsu


Macquarie


Münchener Hypothekenbank


Onward Medical


Parkwind


Perrigo


Puratos


Quares


Santander UK plc


Standard Chartered Bank


Wells Fargo


Work highlights


  • Advised Aedifica on its issuance of EUR 500,000,000 0.750 per cent sustainability notes in 2021.
  • Assisted the BAM-Alheembouw Consortium, as lenders’ legal advisor, with the DBFM PPP for the design, construction, financing and maintenance of a new school complex in Brussels, Egied van Broeckhoven.
  • Acted as lenders’ counsel in connection with the financing of the acquisition of the Ardent group by CVC.

Van Bael & Bellis

Van Bael & Bellis recruited a team led by Johan Mouraux from DLA Piper, which offers significant expertise in project financing, particularly relating to the development of energy transmission and storage infrastructure. The team is active on behalf of lenders and project proponents, and has a strong record in renewable energy projects and leveraged finance mandates, also supporting private equity clients on fundraising rounds and acquisition financing.

Practice head(s):

Johan Mouraux


Other key lawyers:

Lucas De Four; Jorren Garrez


Key clients

Belfius Bank


Belgian Eco Energy (BEE)


CIT Blaton SA


DIF Capital Partners


EDF (Electricité de France)


Federale Verzekering/Federale Assuranc


ING Belgiu


Jan De Nul


Liberty Mutual


LuWa SA


Tikehau Capita


TramArdent SA


Triplepoint Capital


Willemen Group


Work highlights


  • Advised LuWa SA in a significant PPP project for the design, modernisation, operation and maintenance of public lightning equipment of the Walloon region’s highway network worth approximately EUR 400 million.
  • Advised a consortium of sponsors in the context of this approx. EUR 800 million PPP project relating to the conversion of the R4 West and East into Primary Roads in Ghent (Belgium), which was procured by De Werkvennootschap NV for the Flemish authorities.
  • Assisted US venture capital investor, TriplePoint Capital, in relation to its various rounds of financing of Belgian electric bicycle manufacturer, Cowboy.

ALTIUS

ALTIUS advises on cross-border financing transactions, with a particular focus on work for borrowers on regulatory issues and loan restructuring, including standout work for payments services clients and investment funds. The firm has expertise in acquisition financing, syndicated lending, and capital markets work, and regularly advises on UK and Netherlands-domiciled mandates. Counsel Audrey Zegers, a specialist in banking and securities law, leads the team alongside Jérôme Vermeylen, who is focused on corporate finance.

Practice head(s):

Audrey Zegers; Jérôme Vermeylen


Testimonials

‘Hands on, reactive and knowledgeable teams with a consensual approach whilst preserving the interest of the client.’

‘Ms. Zegers is a go-to person in her field excelling in both knowledge and interpersonal skills.’

‘Altius has been our go-to counsel in Belgium for many years. We work with them on AIFMD registrations for international private investment funds in the private equity, real estate and infrastructure sectors. They are always responsive and efficient. They are also very valuable in assisting with regulatory advice for our clients looking to set up offices in Belgium.’

‘Audrey Zegers has been our main contact at Altius and we value her deep knowledge of the regulatory environment in Belgium.

Key clients

Commerzbank AG, Brussels Branch


Brody Group


Corinthia Hotels


Crisp


FNG NV


SFS SAS – Siemens


Syndicate of banks ABN Amro Bank N.V., ABN Amro Asset Based Finance N.V., Deutsche Bank AG, Amsterdam Branch and KBC Bank NV the Netherlands


Van de Velde Packaging


Winterhalter Belgium


Work highlights


  • Assisted Van De Velde Packaging with the negotiation of its external financing provided by Kartesia.
  • Advised FNG NV on the financing aspects of a deal with one of its main creditors and negotiated the related finance documents and security interests.
  • Advised Edmond De Rothschild Asset Management Luxemburg on the structuring and incorporation of an entirely new UCITS fund with a specific tax treatment (DBI BEVEK).

Harvest Business Law Firm

Harvest Business Law Firm is a boutique firm focused on corporate financing work, advising businesses and investment funds on early-stage financing, acquisition finance, and issues relating to IPOs and operations as public companies, with a particular strength in acting for biotech clients. The firm is also focused on ESG issues, including sustainable financing. Adrien Lanotte, a specialist in fundraising work for investment funds, heads up the team.

Practice head(s):

Adrien Lanotte


Testimonials

‘Young and ambitious.’

‘A lot of expertise, best practices – calm – to the point – anticipation = high value in negotiation.’

‘Experience. Understanding of life sciences in Belgium and the US.’

Key clients

Celyad Oncology SA


IBanFirst SA


Realco SA


CONVEYXO SA


50°North Venture SA


RTL Belgium SA


Celio Group


ESOBIOTEC SA


Naki Power SA


Qualifio SA


Work highlights


  • Advised Celyad on a 32,5 USD Million Private Placement subscribed by US investment firm Fortress.
  • Assisting EsoBiotec SA in its EUR 6 million equity seed financing round, subscribed notably by UCB Venture, Thuja Capital, SRIW and Sambrinvest.
  • Assistance to Cowboy’s inventors (SIAM, HCBC, Exor) with a USD 80 million Series C financing round.

Simmons & Simmons

Simmons & Simmons hired Eric Blomme, a specialist in the full range of cross-border lending and loan restructuring matters, as practice head from Baker McKenzie CVBA/SCRL in May 2022, establishing a new offering encompassing acquisition, leveraged, and syndicated lending and export finance work for borrowers and lenders, including major global banks and corporate clients. Managing associate Martin Carlier has standout expertise in securitisation alongside Belgian and EU regulatory issues.

Practice head(s):

Eric Blomme


Other key lawyers:

Martin Carlier


Testimonials

‘The team has a deep understanding of the market. Its versatility makes it a great choice for working in several jurisdictions while ensuring communication and cohesion remain tight. Even if the team is small, it is very fast and resourceful and can adapt quickly to support the customer as if it were a much larger organization.’

‘Martin Carlier is a superb attorney who is well skilled in his industry, as well as being highly considerate, accessible, professional, and able to simplify complex ideas.’

‘I have had the pleasure to work with Simmons & Simmons Brussels team on several occasions. Their responsiveness and the quality of their advice is extremely appreciated. Furthermore, the various offices of Simmons & Simmons truly work as a single firm which definitely facilitate the management of cross-border projects and the efficient handling of transactions generally.’

‘I particularly recommend Managing Associate Martin Carlier who’s been extremely helpful on complex funds queries. Martin has a very good knowledge of the Belgian legal framework. He is pragmatic and open to alternative solutions while not losing sight of the economics underlying the project. I highly recommend Martin Carlier and the Simmons & Simmons team in general.’

‘The team is incredibly helpful and has vast expertise in regulatory (particularly funds) and transactional matters.’

‘Managing Associate Martin Carlier is particularly proactive and always available when needed. His underlying economic background and his commercial awareness enable him to understand client’s needs and to approach projects from a more commercial and practical perspective. Furthermore, Mr. Carlier is very well connected to the Belgian supervising authorities which definitely helps for the management of complex matters.

Key clients

The Goldman Sachs Group, Inc.


J.P. Morgan Chase & Co.


Barclays PLC


Blackrock, Inc.


Morgan Stanley & Co. International plc.


Monument Assurance Belgium


Schroders plc


Eni Finance International


Man Group plc


UBS AG, London Branch


ABN AMRO Bank N.V.


Allianz SE


Deutsche Bank AG


Invesco Ltd


The Bank of New York Mellon


Janus Henderson Group plc


Citigroup Inc.


Work highlights


  • Acting as lead regulatory counsel in relation to the acquisition by Monument Assurance SA/NV of Integrale SA (under provisional supervision by the National Bank of Belgium).
  • Acting as lead counsel in relation to the project financing for Bridgestone Europe NV/SA.
  • Acting as lead counsel for ABN AMRO Bank N.V., Belgian Branch as arranger in relation to Care Property Invest’s issue of EUR 32,500,000 2.05 per cent. fixed rate senior unsecured sustainability bonds.

Strelia

Strelia, led by Frédéric Heremans, an expert in domestic and cross-border financing transactions, has continued to expand its practice, handling high-value borrower-side acquisition financing mandates, refinancings, and regulatory issues, alongside litigation on behalf of financial services institutions. Clients include a number of Belgian and international corporates as well as major banks.

Practice head(s):

Frédéric Heremans


Testimonials

‘Responsiveness and good ability to understand and adapt to customer needs.’

‘Frederic Heremens is the best.’

Work highlights


  • Assisted Cheyne Capital in the framework of a senior and mezzanine project finance to a Belgian-based hotel developer aiming to help the development of its real estate projects abroad.
  • Assisted TD Williamson in the framework of the Belgian aspects of the group refinancing by a US bank.