The Legal 500

The excellent résumé at Castrén & Snellman includes advising the lead arrangers and joint bookrunners, such as JPMorgan, Citibank and RBS, in Sappi Group’s €350m and $300m high-yield notes issues, and acting for Finnair on its €120m hybrid bond issue. Group head Merja Kivelä is ‘extremely good’ with ‘wide experience’. The expanding practice provides ‘effective solutions’ and made up two new partners in 2010 in Janne Lauha and Juha Koponen.

Hannes Snellman Attorneys at Law Ltd produced an impressive deal list amid a difficult market, acting as Finnish counsel to Ruukki Group Oyj on its listing on the London Stock Exchange, the only Finnish company present on LSE’s main list; and the first completed equity transaction of 2010, the €60m issue by Lemminkäinen to institutional investors. ‘Enthusiastic’ Klaus Ilmonen ‘clearly loves his work’ and Riikka Rannikko, who is ‘very clear headed’ both co-head the team.

Roschier’s reputation for first-class finance expertise extends to capital markets, where Dimitrios Himonas leads a team that is ‘happy to think creatively, which is exactly what you want from a top law practice’. Senior associate Elisa Heinonen is considered a rising star by clients. The firm advised JPMorgan and Pohjola Corporate Finance as joint global coordinators and underwriters of Amer Sports’ €160m rights issue.

Tarja Wist leads much of the capital markets work at Waselius & Wist, acting for numerous international investment banks, such as Merrill Lynch and Société Générale. The firm advised the arrangers and dealers, including Barclays Bank, Danske Bank, ING Bank, Nordea Bank and others, on electricity supplier Fingrid Oyj’s €1.5bn EMTN debt issuance programme.

Undoubtedly a leader in the field, White & Case is the firm of choice for either issuer or underwriter in the majority of key transactions. It advised Nordea Bank on its $15bn US medium-term note program, and acted for Amer Sports on its €160m rights issue. Petri Haussila is ‘the best in the country’, while the team as a whole is ‘dynamic and devoted’. Petri Avikainen and Laura Huomo were promoted to partner and counsel respectively in 2010.

Attorneys at law Borenius & Kemppinen Ltd has a strong track record for securities work under the leadership of experienced Ari-Pekka Saanio. Clients report that the ‘overall level of service is excellent’. A year of aborted transactions due to market conditions was preceded by such headline deals as the €38m rights issue of Finnlines plc.

Merilampi bucked the trend of market conditions, completing several high-level deals such as acting for Neste Oil in its €300m international bond offering and listing on Nasdaq OMX Helsinki. ‘Good negotiator’ Ari Keinänen again takes the limelight at the firm, with strong support from Jukka Laitasalo and Jani Ylä-Autio.

Bird & Bird Attorneys Ltd advised US financing company Yorkville Advisors on an equity line agreement with Finland’s biotech, Biotie Therapies in the first such arrangement in the Finnish capital markets. Both Kimmo Reina and Harri Hynninen ‘have a tactical eye’ and ‘good legal skills’. Clients include one of the Big Four global auditing companies.

Head of finance and capital markets at Dittmar & Indrenius, Juha-Pekka Mutanen, is an ‘excellent professional’ and is expanding the firm’s market share in this area. Public M&A expertise is drawn from the highly-rated corporate team that includes Jan Ollila and Antii Kuusimäki, and advised Fiskars on a complex share offer and merger with largest shareholder Agrofin.

Krogerus has a very credible practice providing ‘competent advice that I can trust’, earning the firm two impressive panel appointments in 2010. Key client Elcoteq provided much work in a depressed year, such as a €105m private placement of hybrid securities concerning redemption of debenture notes. Kati Mattila and Marjukka Sippola co-head the practice.

Finance specialists Kimmo Mettällä and Antti Niemi at LMR Attorneys Ltd advise on capital markets work, although the firm’s profile is not as high as in general banking and finance transactions. It advises international and domestic banks, such as OP-Pohjola, on ISDA master agreements.

According to clients, Peltonen, Ruokonen & Itäinen Attorneys At Law Ltd is ‘one of the best in EMTN’ while Mikko Ojala is ‘well informed’ and ‘excellent’ offering ‘clear and timely advice’. Testament to the firm’s status in this field is its representation of Municipality Finance plc on its €20bn EMTN programme guaranteed by the Municipal Guarantee Board.

Kari Heliö heads the capital finance work at Procopé & Hornborg, typically advising mid-sized companies and investors on securities issues and transactions.