Banking and finance in Denmark

Bruun & Hjejle

Bruun & Hjejle provides advice on notable financial transactions and is experienced in acting for banks and financial institutions in high-stakes disputes. Jakob Echwald Sevel and Thomas Skjellerup jointly head up the practice and handle derivatives transactions and structured financing issues, while Ulrik Kloss Fenneberg is a key name for revolving credit facilities and project financing matters; the team also assists with bond-related regulatory matters. Key clients include mortgage banks, institutional and industrial investors, insurance companies, private equity companies and public entities. Associate partner Christian Sahlertz is also a key name to note.

Practice head(s):

Jakob Echwald Sevel; Thomas Skjellerup

Other key lawyers:

Henrik Dahl

Testimonials

I value the flexibility, availability and ability to interact well with law firms globally

The team is more solution-oriented than most comparable practices

Key clients

ATP, PFA and PKA

European Investment Bank and ING Bank

Alm. Brand Bank A/S

Nordea and Nykredit Bank

Kirk Kapital A/S

PKA and Vattenfall

Credit Suisse, Danske Bank, DNB Markets, Nykredit Bank and Deutsche Bank

HPS Investment Partners, HSBC, RBS et.al

Copenhagen Airports A/S

Copenhagen Infrastructure Partners

Nordea Danmark, Filial af Nordea Bank Abp, Finland

AIP Euro Green Private Real Estate Trust No. 9 and AIP Asset Management Co (collectively “AIP”)

Nykredit Realkedit A/S and Nykredit Bank A/S (collectively “Nykredit”)

Work highlights

  • Advised Ares Management as lender to Nordic Capital on its acquisition of IT company Conscia.
  • Advising the European Investment Bank and ING Bank on a €60m project financing of a Danish biogas plant.
  • Advising Permira Credit Solutions as arranger and lender to Francisco Partners on its DKK3.7bn acquisition of IT company EG Group.

DLA Piper Denmark

DLA Piper Denmark handles acquisition finance and asset finance mandates, which include securitisation issues and property finance matters. The practice is also experienced in bankruptcy proceedings, reconstruction work and acting for the creditors of distressed companies. Practice co-head Ian Tokley counts blue-chip companies, financial institutions, private and pension funds and governments as clients, which he advises on regulatory matters including developments in the capital markets and financial services industries. Fellow co-head Ulrich Hejle handles the financing of real estate portfolios and assets including wind turbines and private jets, and Joachim Kundert Jensen has expertise in venture finance work. Senior associate Line Støving is also recommended.

Practice head(s):

Ulrich Hejle; Ian Tokley

Other key lawyers:

Henrik Sjørslev

Testimonials

Flexibility, availability (especially at short notice) and ability to interact well with law firms outside Denmark globally.

The team is highly solution oriented.

Ulrich Hejle is outstanding.

Joachim Kundert Jensen is key name in the team and is very well assisted by Line Støving.

Key clients

Svenska Enskilda Banken AB

ARES Capital

Basisbank A/S

Collector Bank AB

European Energy A/S

Visma

FB Gruppen

Nykredit Bank

Ringkjøbing Landbobank

Totalbanken

Nest Capital

DSV

Kinnerton

Accunia

Ørsted

PensionDanmark

PFA

ATP

P+

Work highlights

  • Advised Kinnerton Credit Management on its establishment of a €200m SPV bond.
  • Advised Svenska Enskilda Banken (SEB) on the financing and refinancing of a logistics real estate portfolio.
  • Advised Visma on the refinancing of a NOK22bn facilities agreement with a syndicate of lenders.

Gorissen Federspiel

The finance practice at Gorissen Federspiel provides financial regulatory advice and has notable expertise in netting, collateral and clearing issues, and the restructuring of distressed financial institutions. The group also assists with loan transactions and works closely with banks, regulators and governments. Practice head Michael Steen Jensen is experienced in acquisition finance matters and regularly advises on the drafting and negotiation of term loan facility agreements and revolving credit facilities.

Practice head(s):

Michael Steen Jensen

Other key lawyers:

Morten Nybom Bethe; Tobias Linde

Testimonials

Strong capabilities within ship finance

Very good team with high-quality people. I think what makes this team stand out is the fact that they consistently deliver high-quality work

Key clients

Nationalbanken

Finansiel Stabilitet

Danske Bank

Citibank

Bank of America

J.P. Morgan

Morgan Stanley

ISDA

Jyske Bank

KommuneKredit

Nordea

Swedbank

Vestjysk Bank

Spar Nord Bank

NordLB

Navigare

Work highlights

  • Assisted Den Jyske Sparekasse with its IPO and admission for trading of its shares on Nasdaq Copenhagen (Main Market) with a transaction value of DKK750m.
  • Advised Maersk Drilling Holding on its entrance into a $350m term loan facility agreement and a $1.6bn term and revolving credit facilities agreement relating to the listing of The Drilling Company of 1972.
  • Assisted Scandinavian Private Equity with the divestment of its activities to Cubera Private Equity totalling €26m.

Kromann Reumert

Kromann Reumert is a key name for regulatory matters and regularly acts for banks, asset managers, brokers, dealers, insurers and pension funds. The practice is also experienced in handling ship financing matters, real estate financings and project financing work through new loans, refinancings and syndicated financing work. Other areas of expertise span insolvency matters, financial restructurings, enforcement issues, debt-equity swaps, derivatives transactions and projects involving renewable energy elements. Kim Rasmussen has expertise in corporate financing, while practice head Jakob Bernhoft advises on securitisations and Thomas Kaas focuses on investment grade lending and leverage finance work. Director Peter Schiøler Skaaring is also singled out.

Practice head(s):

Jakob Bernhoft

Key clients

Danske Bank A/S

Nordea Bank Danmark A/S

Jyske Bank A/S

Nykredit Bank A/S

Nordea Bank Danmark A/S

Danmarks Skibskredit A/S

JP Morgan

TDC A/S

Ørsted A/S

EKF, The Danish Export Credit Agency

Work highlights

  • Assisted Hellman & Friedman with the financing of its $5.3bn public takeover of Nets.
  • Advised T&W Medical on the new external financing to be utilised by a merged group formed by Widex and Sivantos.
  • Assisted EKF on the £2.6bn financing of the Moray East offshore wind project.

Plesner

Plesner has notable expertise in financial regulations and capital markets law, derivatives and structured products, acquisition financing work and project and asset-based financings. The practice also handles the financing of infrastructure projects including airport construction matters. Thomas Maaberg Hansen and Søren Thyssen Valerius jointly lead the practice and are experienced in capital market transactions including acquisition finance issues and financial reconstructions. Other key individuals include Rasmus Mandøe Jensen, who regularly assists with leveraged and asset-backed financings; and Anne Cathrine Ingerslev, who acts for sponsors, borrowers and lenders on finance transactions.

Practice head(s):

Thomas Maaberg Hansen; Søren Thyssen Valerius

Testimonials

The financing team has always delivered high quality work

Very competent, professional and effective team, acting as a true business partner with the ability to go beyond pure technical juridical matters

Key clients

Danske Bank

TDC

Nordea Bank

EQT

Danica Pension

BlackRock

Goldman Sachs

Apollo

J.P. Morgan

Brødrene Hartmann

Leo Pharma

Ares

Work highlights

  • Advised TDC on the repricing of a €1.9bn Term Loan B.
  • Advised Leo Pharma on the negotiation of a DKK6.4bn senior facilities agreement.
  • Advised Danske Bank on the partial refinancing of the DKK200m acquisition of Gram Equipment.

Accura Advokatpartnerselskab

Accura Advokatpartnerselskab's key areas of expertise span transactional financing mandates and advice on financial regulatory matters. The group's transactional experience includes regulated M&A, acquisition financings, corporate financing issues, leveraged financings, project financing mandates and real estate financing work; the practice also assists with the drafting and negotiation of loan documentation for bilateral and syndicated term loans and revolving credit facilities. Kim Toftgaard and Mads Kjellerup Dambæk jointly head up the practice and regularly handle undertakings for the collective investment in transferable securities.

Practice head(s):

Kim Toftgaard; Mads Kjellerup Dambæk

Testimonials

The financing team has a high level of competence, and a good ability to understand the commercial dynamics between the parties in a given transaction

To-the-point advice and delivery, understanding of the commercial context

Veteran partner Kim Toftgaard leads the team whilst providing a very high base-level for banking and finance issues and is amongst the best real estate finance partners in Denmark

Excellent and updated know-how and advice. Commercial understanding and focus on finding solutions

The collaboration with the team is effortless and efficient

Great team of engaging and hard-working lawyers. Always pragmatic, commercial yet diligent and fun to work with. Highly recommendable

Kim Toftgaard stands out by being very straightforward and good at focussing on providing business-oriented advice and helping in finding pragmatic solutions

Accura Advokatpartnerselskab is very flexible and extremely commercial in the approach

Key clients

Danske Bank

Nordea

Nykredit

Jyske Bank

Skandinaviska Enskilda Banken

Lån & Spar Bank

Arbejdernes Landsbank

Aareal Bank

Deutsche Pfandbrief Bank

Tryg Forsikring

PFA Pension

Danica Pension

AP Pension

PKA

PensionDanmark

PenSam

BNP Paribas

Northern Trust

H+H International

Capital Four

EKF – Denmark’s Export Credit Agency

EQT

Lone Star

Welltec

Den Sociale Kapitalfond

Work highlights

  • Advised AP Pension on its acquisition of Skandia Pension.
  • Advised Loan Star on the financing of its €600m purchase of the Stark Group.
  • Advised Deutsche Pfandbrief Bank on the financing of three new residential property complexes.

Bech-Bruun

Bech-Bruun acts for lenders and borrowers across the banking, renewable energy, aviation and manufacturing sectors and handles the financing of corporate transactions, real estate and asset finance work and private equity investments. The team also assists with syndicated loan agreements, mezzanine financing, guarantees, collateral security issues, bond work and structured products. Morten Krogsgaard leads the practice and is experienced in the financing of M&A transactions.

Practice head(s):

Morten Krogsgaard

Other key lawyers:

Thomas Thordal Sevelsted

Testimonials

‘Always available and able to help and meet tight deadlines.’

‘The practice provides a solid impression and is perceived to be reasonable with regards to fees.’

‘To the point, strong experience, solution-oriented.’

‘Morten Krogsgaard has strong experience and a pragmatic, solution-oriented approach.’

Key clients

3i Group Plc

Nordea Bank

Advent International

Danske Bank A/S

Handelsbanken

Scandinavian Airlines

HSH Nordbank

JP Morgan

Danica

Work highlights

  • Acted as legal counsel to companies controlled by SoLiX on the DKK275m financing of its acquisition of Carsoe.
  • Acted for asset manager SUSI Partners on the KfW-backed acquisition of seven turbines in the Nøjsomheds Odde wind farm from European Energy Group through its Renewable Energy Fund II.
  • Advised Nordea Denmark on the refinancing of the committed financing for Rambøll Gruppen.

Horten

Horten is a key name for acquisition financing and multi-jurisdictional corporate lending, and also assists with project financing matters and the financial aspects of real estate and M&A transactions. The practice also handles restructuring matters and bankruptcy work for financial institutions, and is experienced in financial litigation. Practice head Claus Bennetsen focuses on acquisition, property and project financing and also oversees the group’s fund management work in the pensions sector, while Lars Lüneborg has expertise in syndicated lending, leveraged finance and financial restructuring work.

Practice head(s):

Claus Bennetsen

Testimonials

Horten is dedicated to the highest standards of service and absolute quality of legal advice, delivering the most creative and efficient solutions designed to optimise our business objectives

Great attention, hard-working, responsive and dedicated team

Horten’s banking and finance team is excellent. They know their craft and always proactively work to provide the needed assistance. Always a great comfort to have Horten as a part of your deal team

Key clients

J.P. Morgan Securities, PLC

Deutsche Bank

Bank of America, N.A.

Carlsberg Byen

Swedbank

Barclays Bank

ING Bank

Altor Equity Partners

Idinvest Partners

Nykredit Bank

Adelis Equity

Commerzbank

Credit Suisse

Work highlights

  • Advised JP Morgan, HSBC Bank and Barclays Bank as global coordinators on the financing of Carlyle’s $12.5bn acquisition of Akzo Nobel’s speciality chemical unit.
  • Acted for Novo Holdings and The Danish Growth Fund on the financing of the DKK500m purchase of Dansk Shell.
  • Acted for PenSam Pension as a seed investor of a $1bn US debt investment fund and advised on the structural, regulatory, tax and contractual aspects of the establishment of it’s feeder fund.

Carsted Rosenberg

Carsted Rosenberg focuses on Danish-German banking transactions, particularly those originating in Frankfurt, and also provides multi-jurisdictional regulatory advice and assists with the financial aspects of M&A transactions and private equity investments. The firm is also experienced in project, real estate and structured finance work, and assists borrowers with the provision of guarantees. Michael Carsted Rosenberg and Andreas Tamasauskas jointly lead the practice and count banks, financial institutions and private equity funds as clients.

Practice head(s):

Michael Carsted Rosenberg; Andreas Tamasauskas

Testimonials

Only genuine Danish counsel with personal presence in Frankfurt. Undisputable world-class standard of dealing and leading transactions and products delivered. Very high accessibility and reliability

The practice is fast and efficient, offering a quality service

Extraordinarily experienced and knowledgable team, very professional conduct and focus on serving the client

Michael Carsted Rosenberg has experience in a wealth of different areas and can therefore advise on most issues

Excellent legal know-how and best client service

Michael Carsted Rosenberg is simply ‘The Man’ when it comes to Danish finance matters. He gets things done quickly and always puts his clients first

Key clients

Handelsbanken

Berenberg Bank

UniCredit Bank

Cromwell Corp

Vontobel Bank

JT Finance

Re-Match A/S

Greenland Springwater

Genesis Mining

Green Park Partners

ABC Bank

James Cook Media

Work highlights

  • Advised Vontobel Financial Products on the Danish aspects of the launch of a range of leveraged products on the Danish market segment of the Nordic Growth Market in Stockholm.
  • Advising ABC Bank on the impact of Brexit on its Danish and European business.
  • Advising James Cook Media on a £1m convertible loan note instrument.

Lundgrens

Lundgrens excels in structured finance, securitisations and asset finance work and also assists with financial restructuring measures. The group is singled out for its expertise in the oil and energy sectors, which is bolstered by its knowledge of real estate financing and private equity transactions relating to infrastructure and project development matters. Kristian Gustav Andersson, Lars Kjær and Christian Bredtoft Guldmann jointly head up the practice, which acts in M&A transactions, bond refinancings and the financing of direct investments.

Practice head(s):

Kristian Gustav Andersson; Lars Kjær; Christian Bredtoft Guldmann

Key clients

Sydbank

Noreco Oil and Gas

Nykredit

Danske Bank

Nordea Bank Denmark A/S

Jyske Bank A/S

Lærernes Pension (Teachers’ Pension Fund)

AP Pension

PFA Pension and Insurance company

International Woodland Company

PKA, pension company

Spar Nord Bank A/S

Work highlights

  • Advising the Noreco group on its $1.9bn acquisition of Shell’s stake in the Danish Underground Consortium.
  • Assisting Spar Nord with the DKK315m financing for the construction of commercial properties, housing, an extended stay hotel, supermarket and serviced offices.
  • Assisting SG Nordic Group with the €70m financing of its acquisitions of supermarkets and minor shopping centres.

Moalem Weitemeyer Bendtsen

The three pillars of the practice at Moalem Weitemeyer Bendtsen encompass regulatory advice, debt offerings and acquisition and asset finance work; the practice also works closely with the firm’s M&A and private equity practice. Lennart Meyer Østenfjeld and Henning Aasmul-Olsen jointly lead the team and are experienced in real estate finance work and mortgage-backed bond issuances.

Practice head(s):

Lennart Meyer Østenfjeld; Henning Aasmul-Olsen

Other key lawyers:

Bjørn Krog Andersen

Testimonials

Great to deal with, responsive and commercial

Key clients

Agilitas Private Equity

EQT Private Equity

UCAP Investment Advisors

Saxo Bank

Sydbank

Danske Bank

3i Infrastructure

AMP Capital

Polaris Private Equity

Carnegie Asset Management

Lion Capital LLP

CapMan

Credo Partners

Greystone Capital

UBS

Homair Vacances SAS

Jool Capital Partner

Nordea Bank

Work highlights

  • Assisted Abu Dhabi Islamic Bank PJSC with the $15m financing of ships.
  • Advised London Oil & Gas on its £8m loan agreement with P/F Atlantic Petroleum.
  • Acted for APC Partner 1 and its subsidiary APC Forsikringsmæglere on a €35m loan agreement.

Poul Schmith

Poul Schmith provides financial regulatory advice to heavily regulated sectors and regularly assists with acquisition finance work and the drafting and negotiation of financing agreements relating to jointly owned assets. Henrik Kure and Peter Hedegaard Madsen jointly lead the practice and have experience advising banks and mortgage lending institutions on the Danish and EU regulations for settlement arrangements. The group's client roster spans banks and financial institutions, public and government institutions, private equity funds and corporate clients.

Practice head(s):

Henrik Kure; Peter Hedegaard Madsen

Testimonials

‘Kammeradvokaten/Poul Schmith as a law firm is well organised and offers a broad in-house legal expertise covering all elements of a transaction.’

‘Great depth of legal knowledge, amazing availability and extremely service and solution-oriented practice.’

‘Henrik Kure and his team are able to understand the complexity of the scope, including showing empathy to the relevant stakeholders.’

‘Henrik Kure was very enthusiastic, extremely knowledgeable and involved in the process. He has an ability to create solutions that are on point legally and commercially while still being simple, straightforward and well-documented. Also, his service-mindedness is something we value highly’.

Key clients

Vækstfonden

The Danish Ministry of Finance

Jyske Bank A/S

The Danish Financial Supervisory Authority (FSA)

EKF – Danish Export Credit

The Danish Ministry of Industry, Business and Financial Affairs

Nordea Danmark, branch of Nordea Bank Abp, Finland

Danmarks Grønne Investeringsfond (The Danish Green Investment Fund)

Work highlights

  • Acted for the Danish Ministry of Finance on the DKK900m financing of three new airports in Greenland.
  • Assisted Sydbank with the establishment of a new whistleblower setup.