Banking and finance (including shipping finance) in Norway

Arntzen de Besche

The banking and finance team at Arntzen de Besche is ‘very efficient, knowledgeable and pleasant to work with‘. The client base includes international and Norwegian financial institutions, and the group is regularly instructed on real estate and shipping financing matters; oil and gas mandates also remain prominent in the team’s workload. Department head Trond Kildal is ‘highly skilled and very attentive‘ and has an excellent track record in advising lenders on domestic and cross-border acquisition financing work. Vidar Løhre is a key contact for restructuring and debt capital matters, and Karl Rosén is sought out for his strength in financial regulatory issues. Siril Visnes is well known for advising on bilateral and syndicated financings. Specialist counsel Atle Stensrud is ‘highly knowledgeable‘.


Practice head(s):

Trond Kildal


Other key lawyers:

Karl Rosén; Vidar Løhre; Siril Visnes; Atle Stensrud


Testimonials

‘Commercially astute and great attention to detail. High level of service mindedness.’

‘Siril Visnes has great attention to detail, good industry knowledge, and a commercial mindset. She is client oriented and always available.’

‘Trond Kildal is always available and pleasant to work with. As a client, you get a feeling that he sincerely cares about you.’

‘Vidar Løhre is very service-minded, commercially oriented and efficient. He has a good grasp of the essence of the deal at hand. He is very positive, energetic and pleasing to work with.’

Key clients

Pareto Securities AS


Bank of America Europe


Nordea Bank Abp


Citibank N.A., London Branch


Shearwater Geoservices Holding AS


SEB


Danske Bank A/S


Scandinavian Airlines System (SAS) in Norway, Denmark and Sweden


Fearnley Securities AS


DigiPlex


Arctic Securities


Carneo AB


ABN Amro Bank N.V.


Swiss Life Asset Manager


Kreos Capital Funds


NRP (Ness Risan Partners)


Castik Capital S.a.r.l.


Work highlights


  • Assisted Norwegian oil and gas company Pandion Energy with the refinancing of its syndicated $200m reserve based banking facility and its $75m senior unsecured bond issuance; both were completed in conjunction with the client’s acquisition of ONEDyas.
  • Advised a syndicate of lenders with Danske Bank as an agent on a long-running senior secured multi-currency financing to Norva24 AS.

BAHR

At BAHR, restructuring mandates and covered bond matters form key pillars of strength for the practice, and the department has a solid track record in acting for borrower and lender clients on large-scale transactions. The ‘extremely efficientIda Marie Windrup attracts praise, and clients claim her ‘knowledge of the industry is very impressive‘; she specialises in debt capital matters. Practice head Richard Sjøqvist is ‘very commercial and resourceful‘, and Markus Nilssen regularly acts for large Norwegian covered bond issuers. Peter Hammerich is sought out for his financial regulatory expertise, Magnus Tønseth‘s ‘proactiveness is very valuable‘, and Audun Nedrelid acts for international and domestic banks and funds on a range of financing transactions.

Practice head(s):

Richard Sjøqvist


Other key lawyers:

Audun Nedrelid; Markus Nilssen; Magnus Tønseth; Peter Hammerich; Ida Marie Windrup


Testimonials

‘Very commercial and precise.’

‘Ida Marie Windrup – very good at client handling and high quality delivery.’

‘Magnus Tønseth-very commercial and has a quick understanding of clients’ needs.’

‘Very experienced company and lawyers. Excellent assistance in challenging cases.’

‘From our perspective, BAHR has been the number one law firm within the covered bond segment since before Norway had its own covered bond legislation.’

Key clients

Nordea Bank Abp


DNB Group


Sparebank 1 Gruppen


Handelsbanken


Sparebanken Vest


Sparebanken Sør


Export Finance Norway (Eksfin)


ABN AMRO Bank N.V.


ING Bank N.V.


Norvestor Equity


Aker Group (incl. Aker Solutions, Akastor, Kværner, Aker Pensjonskasse, and Aker Insurance)


HitecVision Advisory


Argentum Asset Management


Advokatfirmaet Schjødt AS

The team at Advokatfirmaet Schjødt AS is jointly led by Erlend Bakken, who regularly advises on offshore sector financing matters, and restructuring expert Peter Bugge Hjorth. The practice has established expertise in ship finance work, and is equally adept at assisting offshore, oil and gas, private equity, renewable energy, real estate and infrastructure clients across a broad range of financial matters. High-value financings and refinancings have been prominent in the group’s recent workload. Other key practitioners to note include Thomas Dale in the firm’s Bergen office, who has extensive experience in international financing work; Camilla Skøie Mørkve, who has expertise in acquisition and secured bond financings; Anders Gullåsen, who focuses on debt financing issues; and senior lawyer Ali Sayyad, who advises borrowers, investors and financial institutions on transactions.

Practice head(s):

Erlend Bakken; Peter Bugge Hjorth


Other key lawyers:

Anders Gullåsen; Camilla Skøie Mørkve; Thomas Dale; Ali Sayyad


Testimonials

‘Very good commercial understanding of clients’ needs and able to provide targeted legal advice to accommodate those. Outstanding commitment to land a project/transaction and flexibility and availability as part of that process.’

‘Nice to work with, good discussion partner, service minded and knowledgeable.’

‘Camilla Skøie Mørkve. Top three banking and finance lawyers in Norway.’

Key clients

Ocean Yield


Vår Energi


Lundin Energy


DNB Bank ASA


Prosafe


Northern Ocean Ltd.


Crédit Agricole


Nordea Bank Abp, filial i Norge


Aker BioMarine


HitecVision


Advokatfirmaet Thommessen AS

At Advokatfirmaet Thommessen AS, recent instructions for the ‘hands-on, service minded and knowledgeable‘ team include advising shipping company Wallenius Wilhelmsen on its NOK1bn sustainability-linked senior unsecured bond issuance; Halvor Mansåker and managing associate Maria Norum led on this matter. High-profile restructuring matters form another key driver of work for the group, which is also well known for its strong capabilities in handling financial regulatory mandates; Tore Mydske is the key contact for this area. The ‘highly skilled and knowledgeableEllen Teresa Heyerdahl leads the team, and is well versed in advising borrowers and lenders on bilateral and syndicated lending matters. Hans Haugstad‘s expertise spans acquisition, real estate and cross-border financings.


Practice head(s):

Ellen Teresa Heyerdahl


Other key lawyers:

Hans Haugstad; Halvor Mansåker; Tore Mydske; Maria Norum


Testimonials

‘Quick to respond. Very good availability. Hans Haugstad, Halvor Månsåker and Ellen Teresa Heyerdahl are all excellent individuals.’

‘Thommessen’s team handles everything without a problem, from the most complicated syndicated financing structure case to a bilateral bank financing transaction.’

‘Ellen Heyerdahl and Hans Haugstad are hard working, well experienced and top qualified lawyers. They deliver expert advice.’

‘Service minded and always reachable.’

‘Tore Mydske and the regulatory team are excellent.’

The banking team is generally strong.’

If you have any regulatory issues, Tore Mydske is the man.’

Key clients

DNB Bank ASA


Nordea Bank Abp


Danske Bank A/S


Svenska Handelsbanken


Eksfin (ECA)


Pareto Securities AS


ABG Sundal Collier ASA


Nordic Corporate Bank ASA


Euronext Oslo Børs


Pareto Alternative Investments AS


Storebrand ASA


Sparebank1 Gruppen AS


Seadrill Limited


Sparebank 1 SR-Bank


Finance Norway


Kommunal Landspensjonskasse (KLP)


Gabler Investments AS


Pareto Bank AS


Oaktree Capital


Elkem ASA


B2Holding ASA


XXL ASA


Wiersholm

Wiersholm houses ‘one of the best banking teams in Norway‘, according to clients, which also praise the group as ‘service minded, hands-on, and always solid and practical in its advice‘. Infrastructure and renewable energy financing mandates have been prominent in the team’s recent workload, and the department is well known for representing financial institutions and international and domestic banks in a panoply of financing work. Atle Gabrielsen ‘is highly regarded among his peers‘, and co-heads the practice with insolvency expert Kaare P Sverdrup and Kristine Hasle, who focuses on shipping finance matters. Petter Thomren Moltu is ‘service minded and knowledgeable‘.

Practice head(s):

Kaare P Sverdrup; Kristine Hasle; Atle Gabrielsen


Other key lawyers:

Petter Thomren Moltu


Testimonials

‘Extremely high credibility in the banking practice. Excellent advice that can be trusted and followed.’

‘Wiersholm’s team is very knowledgeable and service minded.’

‘Strong skills on issues relating to ship finance and strong teams at partner and associate level.’

‘The team is service minded, hands-on and always solid and practical in their advice.’

‘One of the absolutely best banking teams in Norway.’

‘Atle Gabrielsen – one you can trust and is highly regarded among his peers which makes a difference in a difficult transaction.’

Key clients

SpareBank 1 SR-Bank ASA


DNB Bank ASA


Nordea Bank Abp, Filial i Norge


Maritime & Merchant Bank ASA


ABN AMRO Bank N.V.


Danske Bank A/S


Work highlights


  • Acted as lead counsel to a syndicate of banks with DNB Bank ASA as coordinator and agent regarding the issuance of a €1bn credit facility to Elkem ASA.
  • Assisted the Hurtigruten Group AS with a €50m senior unsecured green bond issuance.
  • Acted as Norwegian counsel to Pioneer Point Capital Partners in connection with the financing of its acquisition of Scanbio Group.

Advokatfirmaet Haavind AS

Advokatfirmaet Haavind AS‘ banking and finance team ‘stands out for its ability to deliver commercial solutions to complex issues, and its availability and turnaround time is impressive‘. Led by the ‘excellentHans-Christian Donjem, the group has a notable reputation for its strength in advising borrowers on a broad range of financing matters; key areas include bond and real estate acquisition financings. Donjem has an excellent track record in assisting private equity houses and financial institutions with corporate finance, project finance and restructuring mandates. At senior lawyer level, Kasper Formo Asplin is ‘a pragmatic and valuable adviser‘ with established expertise in financial regulatory matters, and Christoffer Baisgård acts as counsel to Norwegian and international lenders and borrowers. Associate Helen Xu is also a key name to note.

Practice head(s):

Hans-Christian Donjem


Other key lawyers:

Christoffer Baisgård; Kasper Formo Asplin; Helen Xu


Testimonials

‘Proactive.’

‘Strong know-how with excellent availability.’

‘Available and quick.’

‘Positive spirit. Available.’

‘Kasper Formo Asplin is highly qualified and up to speed on the ever changing rules and regulations. He always makes himself available, is very service minded, and expresses a keen interest in advising/solving issues that need to be dealt with.’

‘Competent, informal and rapid response.’

‘Kasper Formo Asplin is very knowledgeable and talented, as well as client-friendly and hard-working.’

‘A very competent team, hands-on and pragmatic in its approach.’

Key clients

BlackRock Investment Management


Alimentation Couche-Tard Inc.


Axactor ASA


FSN Capital


ING Bank N.V.


Ferd Private Equity


Aider Konsern AS


Santander Consumer Bank AS


Jyske Bank A/S


CSAM Health Group AS


Work highlights


  • Advised Norwegian accounting company Aider Konsern AS on its NOK500m secured bond issuance, in connection with its acquisition of the Norwegian branch of PwC Accounting.
  • Assisted Axactor ASA with two €300m unsecured bond loans.

Selmer

Selmer‘ ‘always available and proactive‘ team garners praise for its ‘deep understanding of the Norwegian banking sector, including regulatory developments‘. Debt financing work is a key pillar of strength for the group, and the department is well known for its established track record in advising shipbuilding and shipping clients on bank and bond restructuring matters. Practice head Christopher Jensen focuses on acquisition and bond financings, and Bernt Olav Steinland specialises in financial regulatory work. Tor Herdlevær is sought out for his expertise in ship finance work, cross-border and domestic loans and restructuring issues, while Per Morten Christiansen is ‘a highly experienced, pragmatic, skilled, and sensible lawyer‘.

Practice head(s):

Christopher Jensen


Other key lawyers:

Per Morten Christiansen; Tor Herdlevær; Bernt Olav Steinland


Testimonials

‘The team is willing to give firm advice.’

‘Per Morten Christiansen is always available and provides the advice that the bank needs. His long experience in the Norwegian banking and finance market enables him to give spot-on legal advice on transactions.’

‘Bernt Olav Steinland has excellent communication skills and legal expertise.’

‘Deep understanding of the Norwegian banking sector, including regulatory developments.’

‘Per Morten Christiansen leads a team which are always available and proactive. The Selmer team are good at making sure that the processes are moving along in accordance with the bank’s needs.’

Key clients

SpareBank 1 SMN


Sparebanken Vest


Eksport Finance Norway


Ekornes QM Holding


Arctic Securities


SpareBank 1 Nordmøre


SpareBank 1 Sørøst-Norge


Sparebanken Sør


SpareBank 1 Helgeland


Sparebanken Sogn og Fjordane


Advokatfirmaet Simonsen Vogt Wiig

Ship finance matters are a key driver of work for the team at Advokatfirmaet Simonsen Vogt Wiig, and the group is well known for assisting lender-side clients with large-scale bilateral and syndicated bank lending work, project financings and restructuring issues relating to the offshore and shipping sectors. Peter Aall Simonsen is highly regarded for his expertise in asset-based financing and project financing work; he shares leadership of the practice with restructuring expert Eivind Eliassen and Halvor Klingenberg, who regularly handles corporate financing mandates. Other key names include associate partner Stig Strand and senior associate Sunniva Kinsella. In August 2022, Christian Berg Meland joined from SANDS.



Practice head(s):

Peter Aall Simonsen; Halvor Klingenberg; Eivind Eliassen


Other key lawyers:

Stig Strand; Sunniva Kinsella; Christian Berg Meland


Testimonials

‘SVW has a large and experienced banking and financing team. They are effective and easy to work with, and they have a pragmatic and commercial approach.’

‘We are particularly pleased with the work of Eivind Eliassen and Halvor Klingenberg. Halvor is notable in the Norwegian market and is pragmatic and extremely effective.’

‘Strong skills on aspects relating to ship finance.’

Key clients

DNB Bank ASA


Nordea Bank Abp


Skandinaviska Enskilda Banken AB


FSN Capital


ING Bank N.V.


Crédit Agricole Corporate and Investment Bank


Export Finance Norway (Eksfin)


ABN AMRO Bank N.V.


Prime Capital AG


NIBC Bank N.V.


Norwegian Air Shuttle ASA


Bank Norwegian ASA


BNP Paribas


Pareto Bank ASA


Maritime & Merchant Bank ASA


SpareBank 1 SR-Bank ASA


DVB Bank


ABN AMRO Bank N.V.


Shawbrook Bank Limited


Fremtind Forsikring AS


Aquaship


CSI Leasing


Adelis Equity Partners


Hima Seafood Rjukan AS


Work highlights


  • Assisted Norwegian company Håndverksgruppen with its senior secured financing agreements, with Sparebank 1 SR-Bank ASA acting as agent on behalf of a bank syndicate.
  • Advised Hima Seafood Rjukan on the financing of a land-based aquaculture project in Rjukan, Norway.

Wikborg Rein

The banking and finance practice at Wikborg Rein houses a team of ‘highly skilled individuals with great work capacity; quick to respond, and show great responsibility’. Transactional work is a core pillar of strength for the group, and the department has a strong track record in handling ship finance and financial regulatory work, an area in which Ole Andenæs excels. Andenæs jointly heads up the practice with debt financing expert Stian Tande Mortensen. Johan Rasmussen is a highly regarded practitioner in the space, and Alexander Owesenhas a unique competence when it comes to working with different financial products in combination‘.

Practice head(s):

Stian Tande Mortensen; Ole Andenæs


Other key lawyers:

Johan Rasmussen; Lars-Erik Østerbø; Alexander Owesen


Testimonials

‘Alexander Owesen is highly competent.’

‘Ole Andenæs is an excellent adviser and is strong within the entire financial regulatory sphere.’

‘Expert legal advice combined with an unparalleled commercial understanding.’

‘Very pragmatic and forward thinking.’

Key clients

DNB Bank ASA


Nordea Bank Abp


Skandinaviska Enskilda Banken AB


Danske Bank A/S


Svenska Handelsbanken AB


Eksportfinansiering Norge


BNP Paribas


NRP Maritime Asset Management AS


Crédit Agricole


Credit Suisse AG


Work highlights


  • Advised Skandinaviska Enskilda Banken AB as lender in connection with the establishment of a multi-currency revolving credit facility, with Aker ASA as borrower.
  • Represented Nordea Bank Abp as agent in the NOK525m financing of a land-based fish-farming facility under construction by Salmon Evolution ASA.

CMS Kluge

At CMS Kluge, Snorre Haukali and senior associate Ida Johanne Bohmann acted as lead counsel to Faroese salmon farming company Bakkafrost regarding the refinancing of its existing bank facilities, via a €700m five-year secured sustainability-linked revolving credit facility, by a consortium of four banks. The technology, oil and gas, offshore and construction industries are other key sector strengths for the group. Haukali jointly heads up the practice with the ‘very pragmatic and structuredDag Thomas Hansson.

Practice head(s):

Dag Thomas Hansson; Snorre Haukali


Other key lawyers:

Ida Johanne Bohmann


Testimonials

‘Extremely competent and detail-orientated team.’

‘Snorre Haukali and Ida Johanne Bohmann demonstrate excellent knowledge of the company, its history and its unique challenges, and are proactive in taking steps to keep loan and security documentation in order in response to changes in the company’s situation.’

‘Dag Thomas Hansson has a very pragmatic and structured approach, avoiding making matters more complicated than necessary.’

Key clients

Bakkafrost


Mowi


Nordic Trustee


Armada Credit Partners


Work highlights


  • Advised private debt provider Armada Credit Partners on its investment in and financing of Simplifai AS, involving a buyout of the company by a consortium of investors from Elop AS.

DLA Piper

DLA Piper‘s ‘forward-leaning, proactive and client-friendly‘ team has a solid track record in handling asset-based lending work, real estate financings, export finance mandates, financial regulatory matters, and bilateral and syndicated lending issues. Erik Ramm is well known for his expertise in complex restructurings and financing transactional work, and Camilla Wollan counts cross-border matters and regulatory issues as key strengths. Department head Børge A Grøttjord is regularly instructed on multi-jurisdictional public infrastructure finance and leveraged financing matters. Admir Habibija is a key contact at associate level.

Practice head(s):

Børge A Grøttjord


Other key lawyers:

Erik Ramm; Camilla Wollan; Admir Habibija


Testimonials

‘Børge Grøttjord is highly experienced and efficient.’

‘Down to earth.’

‘Diverse team with a broad skillset to handle different dimensions of complex problems.’

‘Ability to handle the client relationship with a problem solving mindset.’

Key clients

KLP Kommunal Landspensjonkasse


Gjensidig Forsikringsselskap


UniCredit


Credit Suisse


Telenor


CHC Group


Nordea


Armada Credit Partners


Macquarie Infrastructure and Real Assets


Silicon Valley Bank


UBS Asset Management


JPMorgan


Wheatsheaf Group


Danske Bank


Realkapital Eiendom


Odal Vindkraftverk


Cloudberry Production/Cloudberry Clean Energy (Cloudberry)


Nordic Wind Power


TietoEvry


TheFactory


Lendonomy


BillKill


Confirmasoft Holding


Aeternum Capital


Sparebanken Øst


Equip Capital


Green Mountain


DEAG


Work highlights


  • Advised Realkapital Investor on financing the acquisition of a Norwegian real estate group, with an aggregate value of NOK2.2bn.
  • Assisted Canadian company CHC Group with the Norwegian aspects of a multi-jurisdictional refinancing of the client’s capital structure.

Advokatfirmaet Grette AS

At Advokatfirmaet Grette AS, the team assisted HSBC Bank and a group of lenders regarding loans and the refinancing of loans with an aggregate amount of €1bn, which were structured as senior term and revolving credit facilities for the global funding of a private equity-held company; Erik Alsvik Skogsbakken led the advice on this matter. Andreas Myrstad heads up the practice, which has a solid track record in advising real estate sector entities, and Johan Christian Kongsli is a key contact for financial regulatory work.

Practice head(s):

Andreas Myrstad


Other key lawyers:

Erik Alsvik Skogsbakken; Johan Christian Kongsli


Testimonials

‘Grette has an experienced team of finance lawyers.’

‘Erik Alsvik Skogbakken is practical minded and easy to work with.’

‘The reason for using Grette on financial services is the easy communication and effective process management they offer in addition to the financial agreements and other financial requirements for the client.’

Key clients

SpareBank 1 Markets AS


ABG Sundal Collier ASA


Avinor AS


Norske tog AS


Coöperatieve Rabobank U.A.


National Westminster Bank plc


HSBC UK Bank plc


Citibank N.A., London Branch


SMBC Bank International plc


Deutsche Bank AG


Landesbank Baden-Württemberg


Moelven Industrier ASA


Scala Eiendom AS


DSV Panalpina A/S


Eltel AB


Caterpillar Financial Services AS


BN Bank ASA


Olav Thon Gruppen


Societe Generale


Kevin. EU UAB


Banco Santander


Kvale Advokatfirma DA

Kvale Advokatfirma DA‘s banking and finance practice has a strong offering for large financial services clients. The group is well known for handling large-scale refinancing and restructuring work, while financial regulatory matters and offshore finance issues remain key areas of instruction for the team. Practice head Hillevi Myrhe is ‘always constructive and available, and delivers high quality work within extremely tight deadlines‘. Stine Snertingdalen is ‘a stand-out practitioner with deep insight and understanding of the legal issues‘. At senior lawyer level, Erik Torjusen has expertise in insolvency matters, and Stephanie Brungot, who is based in the Ålesund office, ‘has great knowledge and insight into the regulatory framework and a practical understanding of the financial sector‘.

Practice head(s):

Hillevi Myhre


Other key lawyers:

Stine Snertingdalen; Erik Torjusen; Stephanie Brungot


Testimonials

‘Extremely hands on and competent.’

‘Exceptional firm and team in all respects. The legal advice has been technically impeccable and commercial at the same time. The delivery is timely. Their management of the different legal streams and law firms is crucial. Highly recommended.’

‘Stine Snertingdalen: exceptional knowledge, experience, and reliability. Great commercial skills, constructive attitude and approach. Hillevi Myhre: exceptional technical skills and advice.’

‘Hillevi Myhre is humble and very easy to work with. She quickly grasps complex issues and has delivered excellent work with instrumental value. Stine Snertingdalen has a strong commercial awareness and thus provides security and predictability for us as a client.’

‘Very good know-how/expertise.’

‘Hillevi Myhre is a good project manager, coordinating different specialists and with a good overview of the subject matter in order to minimise risks. She is a good speaking partner in negotiations and makes clear recommendations.’

Key clients

DNB Bank


Collector Bank


Danske Bank


Arctic Securities


Nordic Trustee


Export Finance Norway


Sparebank 1 SR-bank


SpareBank 1 Østlandet


Skue Sparebank


Romsdal Sparebank


Valdres Sparebank


Sogn Sparebank


Melhusbanken


Seasons Shipping


SANDS

Pia Sporstøl heads up SANDS‘ banking and finance practice, which is highly regarded for assisting maritime and real estate sector clients with syndicated lending work, and reports an increase in instructions from financial institutions concerning high-value bond transactions. Senior associate Ole Christian Sandnes Jenssen assists with restructurings and bond issuances. In August 2022, Christian Berg Meland moved to Advokatfirmaet Simonsen Vogt Wiig.

Practice head(s):

Pia Sporstøl


Other key lawyers:

Ole Christian Sandnes Jenssen


Testimonials

‘Pia Sporstøl is diligent and detail focused. She is quick to reply with proposed changes, and it is easy to discuss commercial points with her.’

‘Available and service minded, knows the industry and the customer.’

‘Availability, fast feedback and clarifications.’

Key clients

Arctic Securities


Nordea Bank


Pareto Securities


Helaba


Sparebanken Møre


SpareBank 1 SMN


Swedbank Norge


ING Capital


Macquarie Bank


ABN Amro Capital USA


Intertrust (Norway)