Firms To Watch: Banking, finance and capital markets

AKD recently established its banking and finance practice with the arrival of Jan Missoul from Loyens & Loeff in September 2022 and was further strengthened when Antoine De Raeve joined from Baker McKenzie CVBA/SCRL in May 2023, allowing the team to handle a rapidly growing volume of acquisition and project finance transactions.

Banking, finance and capital markets in Belgium

A&O Shearman

A&O Shearman‘s large team is able to comprehensively serve a client roster encompassing leading banks and financial institutions, private equity funds, and corporate borrowers. Core strengths in finance transactions as well as in debt and equity capital markets work are underscored by financial regulatory expertise, enabling the group to handle a diverse range of domestic and cross-border matters, including complex project and acquisition financings, securitisations, bond issuances, as well as IPOs and capital raisings. Sustainability projects and real estate transactions are growing areas of focus for the practice, which advises on an increasing number of financings in the renewables space. Syndicated lending expert Yves Van Pul leads the team, which is also home to project and real estate finance expert Filip Tanghe. Sylvia Kierszenbaum is a key contact for financial regulatory matters and debt capital markets issues. Sophie Rutten‘s equity capital markets practice makes her a further name to note.

Practice head(s):

Yves Van Pul

Other key lawyers:

Sylvia Kierszenbaum; Sophie Rutten; Filip Tanghe; Julie Vander Donckt; Niels De Waele; Axel de Backer; Sofie Haelterman


‘Sylvia Kierszenbaum and Niels De Waele are personally involved. They combine the qualities of professionalism and humanity.’

‘In-depth technical expertise, market knowledge, unrivalled experience. ’

‘Sophie Rutten has outstanding knowledge & unrivalled experience. Sofie Haelterman is her trusted right-hand. ’

Key clients

KBC Bank



Work highlights

  • Advised KBC Group as issuer in connection with the establishment of its $10bn MTN programme.


Linklaters continues to field a ‘standout team with deep knowledge of the market’ which acts for corporate and banking clients alike, handling matters ranging from debt and equity capital markets transactions to complex project and acquisition financings, as well as financial regulatory matters and distressed financings. The practice has a growing reputation for its ability to advise on sustainability-linked facilities and transactions, having assisted infrastructure and energy clients with green bond issuances and advised banks on their sustainability-linked loan programs. Practice head Arnaud Coibion is well-versed in handling financial transactions related to energy and infrastructure projects, while Charles-Antoine Leunen and Francis Wijnakker are particularly well-versed in investment-grade and leveraged financings. ESG experts Anne-Sophie Vankemmelbeke and David Ballegeer specialise in capital market transactions, as do Thierry L’Homme and Filip Lecoutre, who are particularly focused on handling IPOs.

Practice head(s):

Arnaud Coibion

Other key lawyers:

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


‘Standout team with deep knowledge of the market, market practice, trends, etc. Very responsive with efficient staffing across seniorities.’

‘David Ballegeer combines impressive technical skills with commercial acumen. Tom Cobbaert is not only very knowledgeable, but also very responsive and efficient and deserves to have a bright future ahead of him. ’

‘Highly skilled. Unrivalled market knowledge & technical expertise.’

‘Very well organized team that is well matched and has clearly guided numerous complex and big-ticket transactions to a successful close. The team is well aware of the latest trends and evolutions in the market.’

‘We worked with Linklaters on a debt capital markets transaction with a team led by David Ballegeer and Anne-Sophie Vankemmelbeke. Both very skilled lawyers with extensive experience who communicate clearly.’

‘Strong finance team with proven experience and track record on, among others, banking (re)financings.’

‘Francis Wijnakker is an experienced finance expert with proven expertise on (re)financing matters who is strong on execution. ’

‘Francis Wijnakker: Top lawyer, very deep understanding and knowledge. Exceptional commitment and drive to get the best for his clients. Tom Cobbaert: Expert in capital markets, approachable and can explain complex matters in an easy to understand way.’

Key clients

Ardo Food

BNP Paribas Fortis


Belfius Bank

BofA Securities Europe


Elia Transmission Belgium

Etablissementen Franz Colruyt

Fluvius System Operator

Groupe Bruxelles Lambert

Hg Capital

ING Bank


Invesis België

KBC Bank

KBC Securities

NPM Capital





Work highlights

Baker McKenzie CVBA/SCRL

Baker McKenzie CVBA/SCRL's banking and corporate finance practice is particularly well-regarded for its connections with corporate clients in the life sciences sector, who instruct the team to advise on high-value, cross-border acquisition financings, capital raising transactions, public offerings, and recapitalistation mandates. The team is also active for lender clients, working for standout banks such as ING and BNP Paribas Fortis on refinancing matters and a growing volume of sustainability-linked finance transactions. Institutional lending expert Michael Van Acker co-heads the practice with capital markets and corporate finance specialist Roel Meers following the departure of former practice head Antoine De Raeve in May 2023. Further key contacts in the team include Joren Janseunne, who was promoted to partner in July 2023 and chiefly advises on securitisations and financing matters.

Practice head(s):

Michael Van Acker; Roel Meers

Other key lawyers:

Koen Vanhaerents; Joren Janseunne


‘Very competent both from a local legal perspective and from an international point of view, being present in several continents.’

‘The team has unique experience in ECM, debt and restructuring markets, and has the manpower to bring complex deals home.’

‘Roel Meers has a deep knowledge of the ECM market, which ensures that deals can run smoothly given his knowledge of relevant market practice and features of recent deals closed in the Belgian market. Together with Michel Van Acker, the Baker team can deal with any complex financing or corporate transaction. The quality of the associates involved on our matters was also excellent.’

Key clients

Mithra Pharmaceuticals

Sequana Medical NV

Galapagos NV

Joh. Berenberg, Gossler & Co. KG

KBC Securities NV

Van Lanschot Kempen

JP Morgan

Bank Degroof Petercam SA/NV

Belfius Bank NV/SA

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

MDxHealth SA

Biocartis Group NV

Standard Chartered Bank

BNP Paribas Fortis


Van Lanschot Kempen

Ergon Capital





Goldman Sachs International

Caisse d’Epargne Hauts-de-France

Work highlights

  • Advised Biocartis Group on a €201m recapitalisation.
  • Advised KBC Bank and other lenders in connection with the ECA-backed financing of the expansion of the port of Montevideo by Terminal Cuenca Del Plata S.A.
  • Advised Apheon as sponsor on the financing of the acquisition of Belgian-based insurance broker AlliA.

Clifford Chance

The team at Clifford Chance is prolific in advising on financial and capital markets transactions in the energy, infrastructure, and industrials spaces, maintaining close relations with leading institutional and direct lenders as well as with major corporate borrowers such as VARO Energy and Traxys. Bolstered by cross-practice corporate and financial regulatory offerings, the group is capable of covering a wide range of debt finance matters, including high-value project financings, acquisition financings, and complexly structured sustainability-linked credit facilities. The expertise of Wim Aerts and Niek De Pauw furthermore allows the team to handle debt and equity capital markets matters, including IPOs and capital increases. De Pauw co-leads the practice with Lounia Czupper, an expert on bank lending and financial regulation. Bert De Maeyer left the team in March 2023.

Practice head(s):

Lounia Czupper; Niek De Pauw

Other key lawyers:

Wim Aert; Celine Feys


‘Very qualified lawyers, with a lot of experience and practical knowledge of the sector. Available,solution oriented, providing useful advice.’

‘Lawyers have a very extensive knowledge of the field and the functioning of the various parties intervening in a transaction, which allows them to provide us with very practical and concrete advice/recommendations.’

‘Very reactive to questions. Take ownership of processes. Excellent in managing large bank syndicates. Good local network with stakeholders.’

‘Niek De Pauw has strong technical expertise. Celine Feys has strong execution and process management skills.’

‘Complete team proficient in the complete spectrum of business practices. Multidisciplinary approach to challenges and efficient involvement of international teams where required.’

‘High level of business understanding compliments vast legal knowledge, professionalism and matriculation. Special mention to Lounia Czupper.’

‘The team is made of top lawyers across geographies. What makes Clifford Chance really unique is its capacity to provide the best advice across several geographies. This is critical for complex cross-border projects.’

‘Individuals have been consistently excellent in terms of advisory but also very strong in understanding clients’ needs and in being very reactive.’

Key clients


Allianz Real Estate

Anheuser-Busch InBev

AXA Group


Belfius Bank

BNP Paribas Fortis

Citigroup Global Markets

EQT Exeter


Fedrus International

Highbridge Capital Management



KBC Bank

KBC Securities



Premia Holdings


Société Générale


Whitebox Advisors


Work highlights

  • Advised VARO Energy on a $1.13bn term loan, including a $165m green loan, a $2.2bn secured multicurrency revolving borrowing base facility, and a $710m ancillary guarantee facility.
  • Advised Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, on a series of capital raising transactions, including its offering of €400m 5.75% senior unsecured notes due 2028 and its €200m capital increase pursuant to the successful placement of new shares via an accelerated bookbuilding.
  • Advised the lenders on a sustainability-linked revolving loan facility agreement for Fluxys SA.

Loyens & Loeff

The ‘highly capable and solutions-oriented‘ team at Loyens & Loeff stands out for the breadth of its debt finance and capital markets expertise, which covers domestic and cross-border transactions in a wide array of sectors and is particularly pronounced in project finance, debt and securities issuances, leveraged lending, and real estate financing work. The practice is especially noted for its ability to handle a significant number of financings in connection with renewable energy and infrastructure PPPs. Clients include Belgian-based and multinational institutional lenders as well as private credit funds, corporate borrowers, and state actors. Practice head Marc Vermylen is noted for his project finance expertise, while Vanessa Marquette and Eveline Hellebuyck primarily handle financial regulatory matters. Koen Panis is a key contact for PPP work. Asset-based lending and green bond issuance expert Sarah Libregts is a further name to note.

Practice head(s):

Marc Vermylen

Other key lawyers:

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


‘Apart from high level legal competence, the team also offers very good market knowledge. Tailor made legal advice and solutions.’

‘Short response times. Well-structured legal advice that is understandable even for non-lawyers. Pragmatic solutions and solutions in line with market and business needs.’

‘Excellent level of deliverables in terms of quality and time. The team was involved in an innovative project that required quite a lot of re-thinking of existing models. They were able to combine innovative thinking with solid legal bases and very good knowledge of market practice. Always available and able to meet on short notice when asked.’

‘Vanessa Marquette has excellent knowledge of debt capital markets and in particular of the Belgian legal environment. Always available when asked and eager to find flexible solutions.’

‘Reactiveness, sound knowledge, and experience in the Belgian project finance sector and beyond. ’

‘The Loyens & Loeff team is highly capable and solutions-oriented. We worked with Loyens & Loeff on a complex, cross-border debt and equity financing. The team was able to come up with answers to a number of complexities that arose and explain everything to us in a simple manner based on their local expertise and knowledge. We felt confident we were in good hands throughout the process.’

‘Great team for seamless and full-service advice across jurisdictions Belgium and Netherlands as a one-stop-shop.’

‘Marc Vermylen is extremely commercial, practical and straightforward in providing advice. Sarah Libregts is also extremely commercial and has extremely high technical ability in providing documentation and workable ‘real world’ solutions for clients.’

Key clients




European Investment Bank


Société Générale

PBB Deutsche Plandbrieffbank


Deutsche Bank

ING Bank

JP Morgan

Morgan Stanley

Goldman Sachs

Barclays Bank PLC

Tristan Capital Partners

WhiteHorse Capital Management

Volvo Financial Services

Participatiemaatschappij Vlaanderen NV

International Swaps and Derivatives Association

Bundesverband Deutscher banken

Aluminium Duffel

Sedimmo SA

Godiva Chocolatier, Inc.

GBA Group

Wingspire Capital LLC

Infopro Digital Group

Work highlights

  • Advised Aluminium Duffel on the refinancing of its existing indebtedness in connection with its acquisition by AIP.
  • Advised Deutsche Pfandbriefbank AG on the refinancing of the office property Arcadia.
  • Assisted the Walloon Region with the renewal of the issuance of €1bn of 2.875% fixed-rate sovereign notes, admitted to trading on the Luxembourg Stock Exchange.


Stibbe remains highly active across the full spectrum of debt finance matters, with a team that is capable of handling leveraged private equity financings and real estate finance while maintaining a particularly strong focus on assisting both lenders and borrowers with financings for projects and joint ventures in the energy and infrastructure space. Debt capital markets and securitisation expert Pieter Nobels further extends the practice's offering by enabling it to advise private and institutional lenders on cross-border bond issuances and uptierings. Wouter Ghijsels leads the team and is a key contacted for both syndicated and direct lending, especially in the context of acquisition and project finance. Pieter-Jan Leemen is also highly recommended for syndicated lending matters.

Practice head(s):

Wouter Ghijsels

Other key lawyers:

Pieter Nobels; Pieter-Jan Leemen; Marie De Roeck


‘Whenever there seems to be no way out, Stibbe finds a way to overcome the legal hurdles and find an creative out of the box and acceptable solution. The high success rate in their solutions is remarkable.’

‘Good involvement of senior (partner) who is experienced, and also mid level Stibbe colleagues deliver value for money and are experienced’

‘Wouter Ghijsels is well-involved, very experienced, approachable, pragmatic. The same applies to Pieter-Jan Leemen.’

‘Quick responses. Able to assist the Client with relevant internal info. Easy to share and update documents with.’

Work highlights

  • Assisted Gigarant with the granting of a €500m guarantee in the framework of the €3.5bn project financing for the new plant to be constructed by INEOS in Antwerp.
  • Advised Highbridge Capital Management and Whitebox Advisors on the distressed “uptiering” restructuring of convertible bonds issued by Belgian biotech company Biocartis, through the issuance of a new 1st lien term loan, 2nd lien secured convertible bonds, new equity shares, and the amendment & extension of the existing unsecured convertible bonds.
  • Advised Carpenter Corporatio on the development and implementation of a “white knight” strategy and implementation of a poison pill in the course of hostile public takeover bid by Greiner on the shares of Euronext Brussels’ listed Recticel.

White & Case LLP

White & Case LLP's team is very well-regarded for its ability to hand cross-border leveraged finance work, regularly collaborating with the firm's global offices to advise both borrowers and lenders in connection with high-value acquisitions. As direct lenders increase their market presence in Belgium, the practice often advises global private capital funds on complex unitranche financings and holdco PIK financings. The team is also a popular destination for clients seeking advice on debt capital markets matters, with Willem Van De Wiele advising on bond issuances and private placements in addition to handling securitisation mandates. The practice is jointly led by leveraged financing expert Hadrien Servais and restructuring specialist Thierry Bosly. Eline Souffriau is also recommended for debt finance and capital markets work.

Practice head(s):

Thierry Bosly; Willem Van de Wiele; Hadrien Servais

Other key lawyers:

Eline Souffriau


‘The Belgian private debt/ finance team overall is very strong. Communication is especially strong: The team is always responsive and creative to tackle matters that are difficult to resolve. I think the whole team is quite unique or certainly far ahead of other law firms in creatively tackling issues in our documents and contracts and coming up with solutions that work well for us and are also acceptable to counterparties. ’

‘Hadrien Servais is exceptional in terms of knowledge and depth of expertise, combined with an extremely strong work ethic and unique skills in negotiations. On top of that, he has a very good commercial understanding of the private debt/ private equity business, which helps hugely in his legal advice.’

‘One of the best teams in the market, with a commercial drive and client service that is second to none.’

‘White & Case has a very strong team. Well connected across offices globally, so you feel like you get global advice, even when speaking with your local counterparts.’

‘Hadrien Servais is an excellent leveraged finance lawyer. He understands the commercial aspects of a deal, which allows him to understand the point of view of both negotiating parties and to identify and solve problems and loopholes. He works relentlessly to always meet tight timetables with impeccable quality of deliveries.’

Key clients








Bain Credit

Bank of America Merrill Lynch

Baring Asset Management Limited

Bayerische Landesbank

Belfius Bank SA/NV

Bluebay Asset Management

BNP Paribas Fortis

BofA Securities


Capital Four Management A/S

Castik Capital Partners


Cobepa NV/SA


Coöperatieve Rabobank U.A.

Crédit Agricole Corporate and Investment Bank

Credit Suisse

Crelan SA

CVC Capital Partners

CVC Credit

Danske Bank A/S

Dentius Group

Deutsche Bank


DNB Bank

DZ BANK AG Deutsche Zentral-Genossenschaftsbank

Elia System Operator

Erste Group Bank AG


EQT Credit

European Investment Bank


Goldman Sachs Private Credit

GSO Capital Partners

Hamon & Cie

Hayfin Capital Management



Ideal Standard



KBC Bank


Landesbank Baden-Württemberg

Le Pain Quotidien

Mithra Pharmaceuticals

Morgan Stanley


NatWest Markets

Norddeutsche Landesbank – Girozentrale

Nordea Bank


Park Square


Royal Bank of Canada



SD Worx

Siemens Bank

Skandinaviska Enskilda Banken AB

Société Générale

Sumitomo Mitsui Banking Corporation

Swedbank AB


Triton Partners


UBS Investment Bank


Wilmington Trust

Work highlights

  • Advised Kpier on a unitranche financing provided by funds managed by Bain Capital Credit and Apax Credit.
  • Advised Barings on a unitranche financing for the acquisition of Trustteam by Rivean Capital.
  • Advised Belgian bank Crelan SA on the establishment of an EMTN programme and on two benchmark issues under this new programme.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton exhibits a strong focus on cross-border debt finance transactions, capital markets matters and financial regulatory questions, frequently working with the firm's transnational offices to jointly advise major corporate clients and international sovereign entities. The team has a strong focus on assisting African nations as borrowers with the arrangement of refinancing and project financing facilities, particularly in the context of sustainable development and infrastructure projects. Corporate borrowing is another key area of focus, with practice head Christophe Wauters serving as a key contact for negotiating multicurrency and international arrangements. Marijke Spooren is also highly recommended.

Practice head(s):

Christophe Wauters

Other key lawyers:

Marijke Spooren

Key clients





The Republic of Senegal

The Republic of Côte d’Ivoire

The Republic of Benin



BNP Paribas Fortis



Société Africaine de Raffinage

Institut Pasteur Dakar

Société des Hydrocarbures du Tchad

The Republic of Congo





Ping An





Republic of Madagascar


Aéroport International Blaise-Diagne

Qair Group

Work highlights

  • Advised Solvay on the ongoing preparation of a separation into two independent listed companies, being Syensqo and Solvay.
  • Advised Goodyear on the refinancing of its €800m pan-European secured revolving credit facilities arranged by JPMorgan Chase Bank, N.A..
  • Advised the Republic of Chad and state-owned oil company Société des Hydrocarbures du Tchad in connection with the restructuring of the $1.3bn oil-for-cash facility agreement granted by Glencore in 2014 and renegotiated in 2018.


Real estate lending represents a cornerstone of the offering at CMS, which advises large Belgian, French and German banks as well as corporate and private equity borrowers in connection with high-value debt finance transactions. The team is also very active in the green financing space and handles a variety of debt capital markets matters as well as acquisition finance mandates. Financial regulatory matters are a further area of focus, with practice head Benoît Vandervelde advising several financial institutions and payment services providers on domestic compliance issues. Vandervelde is also a key contact for syndicated lending, as is real estate finance expert Bruno Duquesne.

Practice head(s):

Benoît Vandervelde


Other key lawyers:

Bruno Duquesne; Arnaud Van Oekel; Gregory de Sauvage; Florence Berchem


‘I had the pleasure of working with Benoît Vandervelde, an efficient attorney who also has a good understanding of the French market and practices, making him an ideal partner for cross-border transactions.’

‘I have worked alongside Benoit Vandervelde for almost 10 years and he has built a very qualified and responsive team, covering all aspects of banking and finance law in Belgium. We believe they offer very high standards of service compared to other firms in the market. ’

‘The combination of their expertise and speed is what makes us choose CMS. They have the specific knowledge we need. They also keep us well informed in terms of new developments and are a very “hands on” law firm.’

Key clients



Five Arrows

Gryphon Investors

HSBC France


Jaguar Land Rover

Pricoa Capital

Quantessence Financial

Schelcher Prince Gestion

Société Générale

ING Belgium

Walloon Region

Water Street Healthcare Partners

Willis Tower Watson

Work highlights

  • Advised the debt cell of the Walloon Region on updates, renewals and issuances under its €25bn EMTN program.
  • Advised Société Générale and ING Belgium as lenders on a property financing governed by Belgian law, relating to an asset occupied by the Belgian Foreign Ministry, to the benefit of the Swiss investment fund Union Bancaire Privée.
  • Advised Quantessence Financia on obtaining regulatory permissions in Belgium after the implementation of its Brexit planning.

DLA Piper

DLA Piper‘s practice maintains strong debt finance, restructuring, and regulatory offerings, advising a large number of public and private borrowers as well as Belgian and international banks on matters ranging from securitisations and bond issuances to export, acquisition and project financing arrangements. The team is jointly led by Caroline Hoste, who has a particularly strong reputation for advising on energy and infrastructure PPP financings, and Pierre Berger, a regulatory expert whose experience encompasses fund formations as well as the compliance aspects of innovative banking projects. Orestis Omran maintains strong relations with Greek banking clients, while Sander Buysse stands out for his real estate finance expertise.

Practice head(s):

Pierre Berger; Caroline Hoste

Other key lawyers:

Hélène Van Steenberge; Orestis Omran; Sander Buysse


‘Competent team, helpful and hands-on.’

‘Sander Buysse is very competent and helpful, brings the transaction forward.’

‘We had the opportunity to work with Orestis Omran and his team in the context of various banking and finance matters. Their ability to provide comprehensive banking and finance advice and to provide a commercial driven solution is commendable.’

‘Professionalism, accuracy, availability. ’

‘Combination of deep knowledge and business sense.’

‘The team has a very broad experience and is capable of delivering within the agreed timeframe.’

‘Orestis Omran consistently raises the bar due to an undeniable number of skills that he shows in every step of the transaction process. He has been involved in high profile complex finance transactions, displaying strong negotiation skills and a thorough understanding of the specific challenges faced by banks and financial firms alike. While a fierce negotiator, he adopts a smooth pragmatic approach when tensions rise to make sure every finance deal is completed.’

‘Caroline Hoste keeps the focus on the interests of her client while being able to get the deal done. She has a very broad experience and manages to get high quality work delivered on time.’

Key clients

KBC Group

SD Worx

ING Belgium


School Invest NV

Regie der Gebouwen

Tioga Capital Partners sLP

Single Resolution Board (SRB)

National Bank of Greece S.A.

Tsakos Energy Navigation LTD

P&E Investments

BNP Paribas Fortis

Belfius group

Argenta group

Axa group

Degroof Petercam group

Delen Private Bank

Bank van Breda

Deutsche Bank

Baloise group

AG Insurance

Ageas NV

Federale Verzekering

Federale Assurance


Athora Holding Ltd

Aion Bank


Bancontact Payconiq Company


Unifiedpost NV/SA

Unifiedpost Payments NV/SA

Travelex AcquisitionCo

Antwerp World Diamond Center

Res Prepaid

Your Estate Solution NV

QQuant Master Servicer Servicing of Loans and Credits SingleMember S.A.

Intrum AB

Piraeus Bank


Qualco S.A.

Tsakos Energy Navigation LTF

European Commission – Directorate-General for Climate Action


Minna Technologies AB

Willemen Groep

Work highlights

  • Assisted SD Worx with the refinancing by BNP Paribas Fortis, Belfius Bank, ING Belgium and KBC Bank of its international group in view of the entry of CVC Capital as minority shareholder and future acquisitions.
  • Assisted KBC Asset Management NV with the complex reorganisation of its Bulgarian fund offering channel.
  • Advised Intrum on the purchase of two NPL portfolios from doValue Greece, concerning a Greek securitised portfolio of non-performing loans with a gross book value of €630m.


Eubelius is routinely instructed by both Benelux-based and international clients to advise on the debt finance transactions, handling borrower- and lender-side work in connection with high-value syndicated loan arrangements as well as with real estate, project, and acquisition financings. The team is also active in the debt capital markets space, advising particularly on green bond issuances, and the ECM-focused side of the practice is increasingly sought out by clients seeking assistance with IPOs. Lars Van Bever and Joris De Wolf handle the bulk of capital markets-related work and co-lead the practice together with M&A specialist Matthias Wauters and financing specialist Thomas Donnez.

Practice head(s):

Lars Van Bever; Matthias Wauters; Thomas Donnez

Other key lawyers:

Eva Milants


‘Always looking for business solutions. Hands-on and business minded approach, combined with excellent technical legal skills, allows you to navigate the pitfalls whilst preserving the business logic.’

‘Relatively small team, but with the knowledge you need, and with excellent availability. Good communicators, both internally and externally. Thomas Donnez really takes the matter in hand and guides you. ’

‘Complementary skills and expertise brought together to provide a full solution. Very customer-oriented, highly qualified team.’

‘Expertise, agility, quality. We mainly worked together with Thomas Donnez.’

‘Eubelius is an outstanding practice with highly skilled lawyers and a unique corporate culture. The lawyers are not only very knowledgeable, but also very nice to work with.’

‘Their strength is without any doubt the quality of their advice/work. They are also responsive and easy to contact, even at partner level.’

‘Joris De Wolf is clever, has a broad knowledge of company law and dares to take position in advisory matters. Thomas Donnez is well aware of market practice and what will be acceptable in discussions with financial institutions.’

Key clients


Warehouses De Pauw

Retail Estates

Care Property Invest



BCD Travel

Puratos Group

Vynova Group


Hyloris Pharmaceuticals

Belgian Debt Agency



Vlaams Woningfonds

Hamburg Commercial Bank

Ripple Labs

Work highlights

  • Assisted Warehouses De Pauw with a €440m financing agreement with China Construction Bank as mandated lead arranger for a syndicate of international banks.
  • Assisted Société Nationale des Chemins de fer Belges as the issuer of bonds with a €1.5bn Medium Term Notes (EMTN) programme.
  • Advised Care Property Invest on its rights issue, consisting of a public offering in Belgium to subscribe for new shares through the exercise of priority allocation rights, followed by a private placement of the non-exercised rights in an accelerated bookbuilding, with a total deal value of €111 million.


Fieldfisher‘s team primarily advises on debt finance transactions, assisting private equity houses, institutional and direct lenders, and corporate clients with a large volume of domestic and cross-border leveraged financings as well as project financings in connection with major developments and PPP undertakings in the energy and infrastructure space. Real estate financings make up a further key area of expertise, as do distressed financings in the context of restructuring projects. The team is led by Sofie Heremans, whose experience spans a wide array of financing transactions. Further key contacts include PPP and energy lending expert Dennis Lievens as well as DCM specialist Dorothée Vanderhofstadt.

Practice head(s):

Sofie Heremans

Other key lawyers:

Dennis Lievens; Dorothée Vanderhofstadt.


‘We like working with Dennis Lievens.’

Key clients

Sereni Group

Norddeutsche Landesbank

Elewan Energy

Triodos Bank

KBC Bank

BNP Paribas Fortis

3D Investors


Belfius Bank

House of Talents

ING Belgium


Tenax European Credit Fund





Credit Mutuel Factoring

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.
  • Advised Nord/LB on their participation in a €368m real estate acquisition loan arranged by Standard Chartered Bank for KB Asset Management Co. Ltd. to support their acquisition of an office complex in the north of Brussels.

Hogan Lovells International LLP

Hogan Lovells International LLP is noted for its securitisation expertise and its ‘in-depth knowledge of complicated financial transactions‘, allowing the team to advise large international banking clients as well as global corporate entities across a wide range of matters. The practice also actively advises clients on debt issuances and covered bond programs, and it is additionally capable of handling complex cross-border financings, including syndicated arrangements and mezzanine loans. Ivan Peeters, who takes the lead on securitisation work and is also a key contact for financial regulatory matters, co-leads the team with transactional finance expert Philip Van Steenwinkel. Regulatory expert Charles-Henri Bernard is also a key contact.

Practice head(s):

Ivan Peeters; Philip Van Steenwinkel

Other key lawyers:

Charles-Henri Bernard


‘Unique experience in banking and financial law matters. Exceptional knowledge of clients.’

‘Partner Philip Van Steenwinkel is exceptionally qualified. He is sharp, a quick thinker and has unrivalled market experience.’

‘The team has an in-depth knowledge of complicated financial transactions. Very experienced and knowledgeable’

‘Ivan Peeters is an authority in securitization. Philip Van Steenwinkel has a broad knowledge of financial transactions. They handle complex matters in a hands-on manner.’

‘Pragmatic and commercial.’

‘The team combines a technical knowledge which is unique on the Belgian market with a pragmatic, hands-on approach. They exceed the standard threshold of a reliable lawyer and are always looking for opportunities to better service their clients and ensuring a solution is found even for extreme complex solutions.’

‘Ivan Peeters: Always a pleasure to work with. His experience is unmatched. Charles-Henri Bernard: Upcoming talent. Learned from the best and that is clear when working with him. Strong technical knowledge and always keeping the client’s objectives and framework in mind when looking for a solution.’

Key clients

ABN Amro

Advanzia Bank

Aion Bank

Alter Domus LLC


Amazon Pay

Amylyx Pharmaceuticals

Argenta Bank

Azerion Group BV

Bank Delen

Bank of New York Mellon

Baring Asset Management

Belfius Bank


BNP Paribas

BNP Paribas Fortis

Buy Way

Capfi Delen Asset Management

Communauté française de Belgique

Coöperative Rabobank UA

Crédit Agricole Corporate Investment Bank


Euroclear Bank


Goldman Sachs

His Majesty’s Treasury

ING Bank

ING Belgium

Investec Bank Plc

KBC Bank

Lease Plan


M&G Residential Fund

Morgan Stanley

National Australia Bank Ltd

Patronale Life


SFAM Assurance


Single Resolution Board

Société Générale

Sompo Insurance

TowerBrook Capital Partners

Volkswagen Financial Services

Western Union


Work highlights

  • Assisted Volkswagen D’Ieteren Finance SA with the setup of its inaugural €1bn master platform for the securitisation of auto loans.
  • Assisted KBC Bank with the annual updates of its €17.5bn Residential Covered Bonds Programme.
  • Assisted Lenwood as mezzanine lender to a Belgian real estate SPV owning and willing to redevelop the Omega Court building for €31m.

Jones Day

Close connections with the firm’s international offices enable the team at Jones Day to handle both domestic and cross-border financing matters. The group has close longstanding relations with major financial institutions and also serves a growing roster of corporate borrowers, with a particular reputation for advising on private equity-related acquisition financing matters as well as high-value debt issuances. Financial disputes and regulatory matters are also key areas of focus for the team, which is led by a consortium of experienced partners: Ferdinand Brughmans is a key contact for leveraged lending work, while Matthieu Duplat focuses on debt and equity capital markets, and Michèle Grégoire chiefly handles restructuring mandates.

Practice head(s):

Ferdinand Brughmans; Matthieu Duplat; Michèle Grégoire

Other key lawyers:

Laurent Vercauteren; Corentin De Jonghe


‘To-the-point feedback during negotiations. Accessibility of the team including the partner Ferdinand Brughmans.’

‘Based on their vast experience, Ferdinand Brughmans and his team know which points are important for their clients and give a hands on & necessary support in negotiating sometimes difficult transactions.’

Key clients

Belfius Bank

Biobest Group

Buysse & Partners

BNP Paribas

Deutsche Bank


KBC Bank

Belgian Debt Agency

Deutschsprachige Gemeinschaft Belgien

Joh. Berenberg, Gossler & Co. KG

Morgan Stanley & Co. International plc

The Flemish Community


Work highlights

  • Advised Belfius Bank NV/SA, BNP Paribas Fortis NV/SA, ING Belgium NV/SA, and KBC Bank NV in connection with the €96.5m refinancing of Partners in Accountancy, one of the portfolio companies of Baltisse.
  • Advised UCB S.A on the update of its €5bn Medium Term Note Programme for the issue of notes with maturities from one month from the date of original issue.
  • Advised CNCM on questions related to prudential requirements under the European Banking Union and the supervisory powers of the European Central Bank.


Liedekerke advises on leveraged financings, assists with refinancing matters, and acts on bond issues and private placements for a client base composed primarily of Belgian banks and corporate clients. Real estate finance is a further area of focus for the team, which increasingly advises both borrowers and lenders on green bond issuances and sustainability-linked facilities. Corporate finance expert Damien Conem leads the practice together with Freya Mareels, a syndicated lending expert who advises on a wide array of debt finance transactions, and Wim Dedecker, who takes the lead on both debt and equity capital markets matters. Thomas Vanthournout is also highly recommended.

Practice head(s):

Damien Conem; Freya Mareels; Wim Dedecker

Other key lawyers:

Thomas Vanthournout; Reinout Vrielinck


‘The team is ambitious and versatile. They are strong in both banking & finance (team headed by Freya Mareels) and capital markets (team headed by Wim Dedecker). They have a proactive diversity policy.’

‘I mostly work together with Wim Dedecker, who stands out in responsiveness, is pleasant to work with and has a pragmatic approach.’

‘Team dedicated, available, hands-on, giving very useful & practical advices ’

‘They raise concerns/issues proactively, provide useful advice and are well deal-oriented.’

‘Liedekerke is a very good Belgian firm with outstanding expertise.’

‘Wim Dedecker masters both ECM & DCM, which is somewhat unique on the Belgian market. He has a very strong market and technical knowledge. He is able to work both in French & Dutch, which is also key on the Belgian market.’

‘The team is very reactive and assisted us with pragmatic advice. ’

Key clients

OD Services

Cohabs Group

Innovatus Capital Partners

ING Belgium, ING Bank

Belfius Bank

ABN Amro Bank

CGE Partners

BNP Paribas Fortis

KBC Bank


Sligro Food Group Nederland

Sonic Healthcare


Cantor Fitzgerald & Co

Degroof Petercam

Work highlights

  • Advised Odontolia Group in connection with its a €31.5m senior facilities agreement with ING Belgium, CBC Banque and Belfius Bank as lenders and ING Bank as Agent and Security Agent.
  • Liedekerke advised the Cohabs Group on a convertible loan agreement for a maximum aggregate amount of €100m.
  • Assisted Belfius Bank SA/NV with the set-up of a €3.6bn treasury notes programme for Beheersmaatschappij Antwerpen Mobiel.


NautaDutilh is not only noted for its acquisition finance expertise, which allows the team to advise leading private equity funds as well as financial institutions on cross-border leveraged acquisitions, but also for its ability to assist infrastructure and real estate clients with the financing of significant PPP projects. Advice to underwriters and issuers in the context of equity offerings represents a further key area of focus for the practice, which is jointly led by project finance expert Thibaut Willems and capital markets specialist Nicolas de Crombrugghe. Nathalie Van Landuyt, who has syndicated and non-syndicated lending experience, is also recommended.

Practice head(s):

Thibaut Willems; Nicolas de Crombrugghe

Other key lawyers:

Nathalie Van Landuyt


‘One of the key aspects that set ND apart is its unwavering commitment to client satisfaction. The firm takes a deeply personalized approach to understanding each client’s unique needs and tailoring legal strategies accordingly. ND boasts a team of highly skilled lawyers, each with specialized knowledge and extensive experience in their respective practice areas. This depth of expertise allows the firm to tackle even the most complex legal challenges efficiently and effectively.’

Key clients



AG Heylen Warehouses




Bausch & Lomb Pharma

Bayerische Landesbank





KBC Securities



Work highlights

  • Advised Bain Capital Private Equity on the Belgian law aspects of the financing of its acquisition of a 55% stake in House of HR, which consisted of the issuance of approximately €419m in senior secured notes; a senior credit facility consisting of a term loan, a revolving credit facility and a delayed draw senior secured term loan facility; and an approximately €310m second lien term loan facility.
  • Assisted a consortium comprised of Invesis Belgium and Fabricom as lenders’ legal advisor with the €60m refinancing of the PPP-DBFM Project “Brabo II”.
  • Advised ABN AMRO Bank and Belfius Bank on a €110m rights offering by Care Property Invest.

Van Bael & Bellis

Van Bael & Bellis has continued to expand its presence in the corporate finance space, hiring Cedric Hauben and Charles Heinen from A&O Shearman as well as Caroline Daout from DLA Piper in late 2022, and advising a growing roster of institutional lenders and corporate borrowers on project financing matters. The team is well-equipped to assist with financings for PPP, energy, and infrastructure projects, and it also handles distressed financings as well as export credit facility arrangements. Johan Mouraux leads the practice and is noted for his expertise across project finance and restructuring matters.

Practice head(s):

Johan Mouraux

Other key lawyers:

Carolien Daout; Cedric Hauben; Charles Heinen; Jorren Garrez


‘Johan Mouraux has proven to be able to successfully close the deal on time.’

Key clients

ING Belgium

Belgian Eco Energy


DIF Capital Partners

Groupe Forrest International

International Capital Markets Association

Jan De Nul

Gentse Warmte Centrale


TramArdent SA

Triplepoint Capital

Willemen Group

Cleanlease Group

Alpha Blue Ocean fund

Gamma Group



Work highlights

  • Assisted TramArdent with its mediation proceedings, involving all sponsors and the tendering authority to reach a successful outcome and achieve renewed viability for the first Liège tram line PPP project.
  • Assisted LuWa SA with a PPP project for the design, modernisation, operation and maintenance of public lighting equipment of the Walloon region’s highway network worth €400m.
  • Assisted US venture capital investor TriplePoint Capital with various rounds of financing of Belgian electric bicycle manufacturer Cowboy.


ARGO Law is very active in acquisition finance, leveraging the firm's strong reputation in private equity matters to advise borrower-side funds as well as institutional lenders on a large volume of leveraged transactions. Refinancing is a further area of focus, and the team is additionally capable of advising on IPOs, public takeovers, and bond issuances. Nico Goossens is a key contact for capital markets work as well as public M&A matters and co-leads the team with Pieter Bogaerts, who focuses on private equity lending.

Practice head(s):

Nico Goossens; Pieter Bogaerts

Other key lawyers:

Christophe Verhelst

Key clients

Bencis Capital Partners

Equine Care Group

Waterland Private Equity

Fortino Capital



Strada Partners

ING Belgium

KBC Bank






Work highlights

  • Advised Waterland Private Equity, the Asteria Group and an international consortium of bank and non-bank lenders on the refinancing of the Asteria Group.
  • Advised Saverex on its voluntary and conditional €720m takeover bid for Exmar.
  • Advised VGP NV on its €303m capital increase through a public rights offering.

Ashurst LLP

A ‘very knowledgeable team with a lot of transactional experience‘, Ashurst LLP focuses on distressed refinancings and debt restructurings as well as on bond issuances, with a particular focus on sustainable and cross-border finance. The practice acts for a large number of domestic and international clients on the borrower and lender side and is led by Arnaud Wtterwulghe, an experienced financing and restructuring expert who is also very qualified in advising on securities matters. Bram Delmotte is a further key name in the practice.

Practice head(s):

Arnaud Wtterwulghe

Other key lawyers:

Bram Delmotte


‘Very knowledgeable team with a lot of transactional experience, being able to tap in the firm’s wealth of experience.’

Key clients

KB Securities Co., Ltd.

Goldman Sachs




Dexia Crédit Local

Work highlights

  • Advised a group of finance parties on the refinancing of certain debt and on the provision of €400m in new capital for Diebold Nixdorf, Incorporated, as well as on the Chapter 11 bankruptcy filing and restructuring of the Diebold group.
  • Advised a number of large banks on ensuring the consistency of the terms of their issuance programmes with the Belgian Code of Economic Law and, in particular, the provisions in respect of unfair terms and greenwashing.
  • Advised Dexia Crédit Local on its multiple issuance programmes.

Deloitte Legal

Deloitte Legal is very active on borrower-side debt finance work, advising corporate clients primarily in the real estate and automotive sectors on a wide variety of facilities and financing arrangements. The team is very active on sustainable finance matters as well as on project finance, and its capital markets expertise also enables it to handle a high volume of private placements. Financial regulatory issues represent a further area of focus, particularly for Laurent Godts, who co-leads the practice with transactional finance expert David Roelens.

Practice head(s):

David Roelens; Laurent Godts

Other key lawyers:

Kristof Maresceau; Jolien Bradt; Astrid Delanghe; Sophie Wyckmans


‘We appreciate their intense commitment in achieving the best result for the client. ’

‘Laurent Godts is a sympathetic personality with thorough knowledge of complex financial structures. He is honest in his advice and strives for the best possible result for his client.’

‘Open and proactive communication Understand the customer’s needs and situation. Accessible.’

‘Hands-on, flexible and eager to work with.’

Key clients

Home Invest Belgium NV

Xior Student Housing NV

Montea NV

Milcobel CV

Iep Invest NV

Accentis NV

Gigarant NV

Architas NV

International Car Lease Holding NV

Van Mossel Automotive Group NV

Euler Hermes NV

Work highlights

  • Advised Home Invest Belgium NV on the successful capital increase of €27m (1,791,706 new shares) through a private placement with accelerated book building procedure.
  • Advised all the divisions of the Van Mossel group on the financing of their car dealerships and leasing activities in Belgium and in Luxembourg.


Lydian is active across asset-based lending, trade and project finance, and acquisition financing, assisting both domestic and international banks as well as corporate borrowers with a series of high-value, often cross-border arrangements. The team maintains particularly strong connections with UK and US-based clients and partners, enabling it to handle the domestic aspects of major multijurisdictional facility agreements. Tom Geudens leads the team and has a 'unique position and understanding of cross-border finance transactions'.

Practice head(s):

Tom Geudens


‘Lydian’s Banking team demonstrates profound knowledge of the market and very high level of expertise. Easy to deal with, reachable, reactive, reliable.’

‘Tom Geudens is an excellent and very pragmatic lawyer.’

‘Thoughtful, user-friendly advice delivered in a timely fashion. Understanding of the task at hand is excellent and work product to match. Attentive, responsive and always helping to drive the deal forward. ’

‘Tom Geudens is a class act. Friendly and personable – with a brilliant legal and commercial mind.’

‘The B&F transactional team at Lydian provides excellent expertise. They meet expectations and go above and beyond to make sure the transaction closes. They can draw on Lydian’s wide legal expertise if any side matters arise, which makes their full service capability a great value add.’

‘We mostly work with Tom Geudens and his team. His international network and strong position in the London market gives him a unique position and understanding of cross-border finance transactions. He is supported by a very solid team which responds quickly and accurately. They are all pleasant people to work with.’

‘The Lydian team are my “go to” firm for Belgian banking transactions. They are pragmatic and sensible and have excellent deal management skills.’

‘Tom Geudens – technically sharp and very good at analysing and explaining issues.’

Key clients

Allianz Global Corporate

Deutsche Bank Capital Markets

Societe Generale

Credit Agricole

Belfius Bank Nv

Baloise Belgium Nv


Immoweb Financial Services SA



SNS Bank

Federale Pensions



Adams Street Partners

N26 Bank

TD Securities

ANZ Bank


Royal Bank of Canada

Argenta Bank

Lufthansa Airplus


Bank of America

Deutsche Bank


Wells Fargo

National Westminster Bank


United Rentals

Burgo Ardennes SA

Hitachi Capital

TMF Group

ABN Amro Bank N.V.

Work highlights

  • Advised the lenders on to a €600m financing for Vynova, which will be used for the acquisition by International Chemical Investors France 2 S.A.S. of Benvic Group S.A.S.
  • Advised the lenders and GLAS Trust Corporation in connection with the accession of Indigo SA, Fisocele SRL and Luna Belgium SA to a €132m facilities agreement as guarantors.
  • Advised the borrowers on a €380m refinancing of the Seashell Group, the Natra Group, and its subsidiaries.

Simmons & Simmons

Since the inception of the practice in 2022, Simmons & Simmons advises a growing base of lenders and borrowers on a wide variety of debt finance transactions, handling acquisition and trade financings in addition to advising on securitisation transactions. Under the leadership of experienced acquisition finance expert Eric Blomme, the team is capable of assisting with complex financing structures, including mezzanine facilities, and also stands out for its cross-border work. Securitisation expert Martin Carlier and leveraged finance specialist Cécile Odeurs are further key contacts.

Practice head(s):

Eric Blomme


‘The team is knowledgeable, synchronised and accommodating, everyone was on the same page and delivered the same message. The team was proactive and was able to handle difficult situations. When the counterparty was slow and not as proactive, the team managed to lead and close the negotiations on our terms.’

‘Eric Blomme was extremely knowledgeable, he was able to handle difficult negotiating points on the spot, he understood our view and what we were trying to achieve very fast and worked hard to get us to that point. Martin Carlier was also very knowledgeable and interacted well with the team, his input was productive and positive. Both Eric and Martin were able to think outside the box and provide us with creative solutions to address our points.’

‘Eric Blomme is easily accessible, very experienced and pragmatic. Excellent listening skills and provide advices in order to facilitate the dealmaking and taking into account his client’s interests.’

‘A highly committed and competent team. Responsiveness to specific client requests is excellent.’

‘As a foreign company, we always felt that Eric Blomme and Cécile Odeurs provide an excellent insight in the speciality of Belgian company law and potential differences to our domestic laws. They guided us smoothly through a credit facility and security documentation, the form of which had been so far unknown to us.’

‘Always available and answered in time. Also very cooperative with opponents to find solutions rather than show problems. For financial advisory we want to mention Eric Bloome and Cecile Odeurs, who represented us throughout the financing process with our banking partner.’

‘Simmons & Simmons LLP has long been recognized for its commitment to excellence and expertise in regulatory finance. In this respect, we would like to highlight the precious contributions of Martin Carlier. Martin has a profound knowledge of financial regulations and a commendable dedication to client success. He always looks for a pragmatic approach to solve complex challenge and we particularly appreciate his accessibility.’

‘Martin Carlier’s work in the Belgian practice of Simmons & Simmons has been impressive, particularly in relation to regulatory finance and fund related advice. Martin has a deep understanding of cross-border regulatory finance issues and ensure meticulous attention to detail. Furthermore, Martin’s expertise in transactional banking is noteworthy, allowing clients to approach complex transactions with confidence.’

Key clients


Allianz SE

Atlas Capital Markets

Barclays PLC

Deutsche Bank AG

Eni Finance International

Euroclear SA/NV

ING Belgium SA/NV

J.P. Morgan Chase & Co.

Monument Assurance Belgium

Morgan Stanley & Co. International plc.

The Goldman Sachs Group, Inc.


UBS Switzerland AG and affiliates

Work highlights

  • Advised commodities trader Traxys as lead counsel on the extension of $1.57bn flagship multicurrency syndicated borrowing base credit facilities.
  • Advised Atlas Special Opportunities LLC as subscriber in connection with a €20m subscription agreement in respect of convertible bonds issued by Oxurion NV, a listed Belgian biotech company.
  • Advised the mezzanine lender on the refinancing of the Manhattan office building, located in Brussels.


ALTIUS‘ team is jointly led by corporate finance expert Jérôme Vermeylen and regulatory specialist Audrey Zegers, who together advise a roster of institutional lenders as well as corporate borrowers and investment funds on financial and payments regulations, acquisition financings, syndicated lending, and bond issuances. The team has a particular focus on assisting international clients with Belgian regulatory aspects of market entries, restructurings, and leveraged transactions.

Practice head(s):

Audrey Zegers; Jérôme Vermeylen

Other key lawyers:

Elias Nys


‘The team at Altius is quick and agile in responding to any petitions, being aware of the needs of clients, and producing accurate and straightforward advice adding value to all stages of an operation.’

‘We have had a fantastic relationship with every Altius professional over the years. We highlight Elias Nys’ hands-on approach and agility in resolving the different time-sensitive petitions put forward. ’

‘Very helpful on Belgian private fund regulatory matters.’

‘Audrey Zegers in particular is excellent.’

Key clients

Hilco Capital

Deutsche Invest Mittelstand GmbH

Barclays Bank Plc


Crisp BV

Corsica Sole Deux Acren BV



Work highlights

  • Advised Deutsche Invest Mittelstand on the acquisition and (re)financing of the European group “Team Industries”.
  • Advised Hilco Capital on the negotiation of its financing arrangement with the global Superdry group.
  • Advised the Crisp group on negotiating its external financing with large US-based venture capitalist Triple Point.

Harvest Business Law Firm

The team at Harvest Business Law Firm primarily advises corporate borrowers, venture capital funds, and start-ups on corporate finance matters, with a heavy focus on the tech sector, and is capable of assisting with capital raising matters as well as syndicated lending. The team is led by fundraising and capital markets expert Adrien Lanotte, who is noted for his relations with tech investors and his knowledge of early-stage financing matters.

Practice head(s):

Adrien Lanotte


‘Competitive and wide offer of services. Agility and comprehensive understanding of our business and constraints.’

‘Very pleasant and helpful team. Always available and reactive.’

‘The team led by Adrien Lanotte provides a full range of services from corporate housing to the most complex financing operations. The team is extremely reliable and never let you waiting for their replies. It is truly one of the most (if not the most) responsive law firm I have worked with.’

Key clients




Theodorus Fund









Tessares and Ottie



Celio Group




Naki Power



Work highlights

  • Advised the investors of CowBoy on a Series C2 financing round.
  • Advised Naki and its investors on a Seed 2 financing round.

Monard law, joined by Buyle

A consortium of lawyers around financial regulatory expert Jean-Pierre Buyle and banking litigation specialist André-Pierre André-Dumont arrived in April 2023 to strengthen the practice at Monard law, joined by Buyle, which now handles a wide array of financial disputes in addition to providing continued advice to borrowers and lenders in connection with project and real estate financings for PPPs. André-Dumont and Buyle lead the practice together with governance and litigation expert Jeroen Raskin and debt finance expert Stefaan Van Dyck.

Practice head(s):

Jean-Pierre Buyle; Jeroen Raskin; André-Pierre André-Dumont; Stefaan Van Dyck


‘Efficient and fast advice/assistance in complex matters.’

‘Outstanding quality and down-to-earth approach.’

‘Mr Buyle has gathered around him an excellent team of passionate lawyers in banking and finance law.They deliver services in, French, Dutch and English. They are easily reachable, always open for discussion and exchange ideas, arguments.’

‘Jean-Pierre Buyle is an outstanding lawyer in his domain. He is really passionate about his work, but also very attentive to his clients and the associates working with him.’

Key clients

BNP Paribas Fortis

Quanteus group

ING Bank

KBC Bank


Keytrade Bank

Bank Nagelmackers


Belfius Bank

Citibank NA

Jan De Nul



Merit Capital



AXA Bank

BNP Paribas Leasing Solutions


Lombard Odier

Stevens & De Munter

ABN Amro

Belfius Insurance


Indosuez Wealth Management



Phoenix Capital


Work highlights

  • Advised the consortium led by contractor Jan De Nul in connection with the Design, Build, Finance, Maintain project for the construction of a new prison in Antwerp.
  • Advised BD Myshopi and its management on syndicated lending in the context of the restructuring of the BD Myshopi Group.
  • Advised Quanteus Group BV and minority shareholders in Nyrstar NV in connection with an up to €2bn financial litigation against Trafigura and Nyrstar NV.


Strelia maintains an integrated financial law offering that encompasses transactional, regulatory, restructuring, and litigation elements, with a particular focus on guiding financial institutions and corporate borrowers through acquisition financing arrangements. Refinancings and distressed financings are also key areas of focus for the team, which is led by domestic and cross-border financing expert Frédéric Heremans.

Practice head(s):

Frédéric Heremans

Key clients

LCL datacenters





Crédit Mutuel Factoring

Lifestyles Group

Axalta Coating Systems

Absolute Capital Partners

Work highlights

  • Assisted Société Générale with the refinancing of the acquisition by, and the existing indebtedness of, Healthcare Activos Inmobiliarios 21, SLU.
  • Advised LCL DATA CENTERS on financing the acquisition of numerous data centers as part of its edge strategy.
  • Assisted Axalta Coating Systems group alongside Latham & Watkins with the Belgian aspects of the refinancing of its $2bn credit agreement.