Bech-Bruun has a strong cross-border acquisition financing department that works closely with other practice groups to deliver a full-service offering to clients seeking domestic transactional, real estate finance and energy project financing advice. The team is also well equipped to handle issues relating to fund subscription financings and aviation finance, with the latter being an area in which Thomas Thordal Sevelsted is an expert. Practice head Morten Krogsgaard specialises in international finance law and represents major financial institutions including JP Morgan.
Firms in the Spotlight Banking and finance
Banking and finance in Denmark
‘High responsibility and strong availability.’
‘The team is always available, sharp and highly professional. The team has very strong skills, and a really high level of competencies and professionalism. The counselling is always delivered with the highest possible standard and with an excellent performance.’
‘David Moalem is exceptional and his performance has been outstanding. David is always really sharp and highly skilled within Banking and Finance. His expertise really shines through, and he is always really pleasant.’
3i Group Plc
Blackstone Real Estate Group LP
Danske Bank A/S
Skandinaviska Enskilda Banken AB
Scandinavian Airlines Denmark-Norway-Sweden
Hamburg Commercial Bank
Strawberry Fields AB
Savill Investment Management
Lineage Logistics Holding
Scan Global Logistics A/S
- Acted for DSV Miljø Group A/S, a leading provider of environmental, transportation and construction-related services in Denmark, Sweden and Norway, in connection with the redemption and refinancing of €210m senior secured bonds.
- Acting for the lenders consisting of Danske Bank, CACIB, Santander, Nordea and Skandinaviske Enskilda Banken on an €850m Sustainability Linked Subscription Credit Facility for Copenhagen Infrastructure IV K/S, the largest fund globally within renewable energy infrastructure investments.
- Acted as Danish counsel to CVC in connection with the successful bid for Stark Group, the leading distributor of heavy building materials in Northern Europe.
Bruun & Hjejle advises on high-profile banking and finance disputes and has significant expertise in fund formation and private equity work. Asset and project financings are other core areas of strength for the practice, with Christian Sahlertz regularly advising lenders and borrowers on these issues as well as other credit facilities and financing agreements. Led by finance expert Thomas Skjellerup, the group has a broad client base that consists of institutional and industrial investors, mortgage banks and public entities.
‘The Bruun & Hjejle Banking & Financing team is highly experienced in loan financing, real estate financing and bond financing. They are diligent, service-minded and flexible.’
‘The team are highly responsive and have supported us during a number of sensitive, high-value matters with considerable skill.’
‘Thomas Skjellerup has very broad experience in financing. He is very engaged in his cases alongside his associates – particularly in negotiations and non-trivial documents/questions. He strikes a very good balance for partner engagement and availability. Thomas Skjellerup is skilled, diligent, engaged and very likable.’
‘The law firm has consistently delivered high-quality legal advice and always performed their tasks in due time as well as with high quality. Collaboration has always worked very efficiently.’
‘Christian Sahlertz is a trusted and loyal adviser to us and he stands out as being very diligent, responsive and considerate of how his workstream fits into the broader picture.’
Altor Equity Partners
Aviva Investors and PSP Investments
AXA Real Estate Investment Managers
CIP (Copenhagen Infrastructure Partners)
Nykredit Realkredit and Nykredit Bank
Permira Credit Solutions
Sampension, MP Pension and other pension funds
Savills Investment Management
- Advised Danske Bank A/S on the financing of Tryg Foundation regarding its participation in a rights issuance by Tryg A/S, listed on Nasdaq Copenhagen, for the purpose of funding a £7.2bn bid for all shares of RSA Insurance Group Plc., listed on the London Stock Exchange.
- Advised CIP on various aspects of financing involving or pertaining to investments in its new fund, CI IV, which will be the world’s largest private equity fund for green energy investments and is expected to reach commitments of up to DKK40-50bn.
- Advised Goldman Sachson the financing of the acquisition of seven projects from Danish real estate developer Birch Ejendomme which will continue to develop more than 900 housing units situated in five different cities in Jutland.
The team at Gorrissen Federspiel handles the full spectrum of banking and finance issues for domestic and international institutions in the Danish and wider Nordic banking sector. The group has a prominent regulatory practice, with Morten Nybom Bethe considered a ‘go-to’ practitioner for regulatory matters. In Copenhagen, Michael Steen Jensen heads up the practice and has extensive experience in debt capital markets work, advising on junior covered bonds and senior debt in addition to international debt programmes and hybrid capital. Tina Herbing is a ‘skilled financing lawyer’ who handles mandates in connection with ship finance and project finance issues. Mikkel Fritsch is also recommended and Lotte Eskesen leads the group in Aarhus. In January 2022, the arrival of Plesner‘s former co-head of banking and finance, Thomas Maaberg Hansen further strengthened the practice.
Other key lawyers:
‘The team delivers consistently high-quality work.’
‘Morten Nybom Bethe is incredibly knowledgeable and one of my go-to persons for questions regarding financing as well as regulatory matters.’
‘Tina Herbing is a skilled financing lawyer. Knowledgeable, highly efficient and very pleasant. Delivers high-quality work.’
‘Mikkel Fritsch delivers constant high-quality work and is a very pleasant person at the same time.’
‘‘Thomas Maaberg Hansen: Has a second-to-none commercial understanding and approach. He wants to know your business and delivers first-class tailor-made solutions. He is a strong negotiator with deep insights into the market.’
Danske Bank A/S
Nykredit Realkredit A/S
Nordea Danmark, Filial af Nordea Bank Abp, Finland
Den Jyske Sparekasse
Chr. Hansen Holding
ROCKWOOL International A/S
- Advised Danmark’s Nationalbank on a new state guarantee covering financial instruments issued by A/S Storebæltsforbindelsen, A/S Øresundsforbindelsen and A/S Femern Landanlæg under their international loan programme of $7bn.
- Advised the joint lead managers on Danske Bank’s issuance of $750m Perpetual Non-cumulative Resettable Additional Tier 1 Convertible Capital Notes.
- Advised a group of lenders (led by Nordea Danmark and Danske Bank) providing a sustainability-linked revolving credit facility of €950m to Pandora for general corporate purposes.
Kromann Reumert‘s banking and finance team has a ‘high degree of knowledge and experience with the international market’. It handles the full gamut of issues, with particular strength in leverage and investment grade finance work, securitisations, project financings, derivatives issues, debt capital markets and debt restructurings. The team also has experience in ship and aviation financings, with practice head Jakob Bernhoft being an expert in these fields. Kim Rasmussen and Thomas Kaas regularly represent international banks and large corporates, while Peter Schiøler Skaaring is noted for his expertise in unitranche and second lien lending.
‘The team is very professional, skilled and has a high degree of knowledge and experience with the international market.’
‘The KR team had a clear mastery of the Danish considerations, were not only able to flag local complexities but suggest clear commercial, workable solutions.’
‘Great creativity in reacting to the inevitable curveball in the execution process – round-the-clock availability and timely delivery of advice, documents, etc – clear communication style, able to explain complex constructs in a consumable way, which made negotiating difficult points much easier and effective.’
‘Jakob Bernhoft is very pleasant, efficient, skilled and commercial. His ability to prepare and submit documents while the project is still in its early days with many unknowns is second to none.’
‘Thomas Kaas was excellent. His advice was critical as we navigated an innovative structure in Denmark. He was clear and concise with his advice, offering commercially workable suggestions as we adapted a structure to the Danish context. He was central to the successful execution of the deal.’
Danske Bank A/S
Nordea Danmark, Filial af Nordea Bank Abp, Finland
Jyske Bank A/S
Danmarks Skibskredit A/S
EKF, The Danish Export Credit Agency
AP Møller Holding
FLSmidth & Co. A/S
Skandinaviska Enskilda Banken AB
Coop Danmark A/S
Plesner has a strong international focus and is well known for its acquisition financing expertise. The team is also well equipped to handle infrastructure finance work as well as major investigations and enforcement mandates, including handling the widely reported Danske Bank case concerning flaws in its debt collection system, which is led by practice head Søren Thyssen Valerius. Anne Cathrine Ingerslev‘s broad practice covers clients including private equity houses and real estate businesses, while Rasmus Mandøe Jensen is recommended for his work in the leveraged and alternative finance space. Thomas Maaberg Hansen left the group in January 2022 to join Gorrissen Federspiel.
‘Hands-on and always up to date on market conditions.’
‘The team, led by Anne Catherine Ingerslev, was professional and dedicated 24-7 – through the whole process. Very solution-oriented and to the point. Easy to work with. They made us feel we were in control.’
‘We did a refinancing project starting in one direction. And after many turns, we ended in a different corner. The Plesner team was capable of handling all the different structures and stakeholders in a strong, professional and positive way.’
‘Anne Catherine Ingerslev is very knowledgeable and diligent in her analysis and advice. It’s always a pleasure to work with her and the associates she staffs.’
‘Well composed, talented team. High availability and swift turnarounds.’
‘Plesner’s finance practice is probably the best in Copenhagen and consistently delivers high quality work regardless of the size of the transaction.’
‘Experienced Søren Thyssen Valerius is an obvious choice for lenders in acquisition financings.’
A.P. Møller – Mærsk
EKF – Denmark’s Export Credit Agency
Copenhagen Infrastructure Partners (CIP)
- Assisted Danske Bank with the investigation of certain system flaws in its debt collection system, which have impacted a large number of the customers in the system and which have resulted in an unjustified collection of debt from the customers.
- Acted as sole legal counsel to a consortium of lenders in connection with a facilities agreement entered into between each of Danske Bank, Nordea, Nykredit and SEB as lenders and an EQT-owned acquisition company as borrower in connection with EQT IX’s acquisition of Chr. Hansen, the world-leading food ingredients manufacturer’s, natural colours business.
- Advised Reconor Group on a successful DKK 1bn unitranche/super senior refinancing of the group’s existing financing and the combined financing of a strategic add-on acquisition of the Danish company Sten & Grus Prøvestenen A/S.
Accura Advokatpartnerselskab‘s banking and finance department focuses on three main areas: financings, finance regulation and alternative investments. The team advises several Danish financial institutions, including major banks and pension funds, as well as insurance companies and asset managers. Kim Toftgaard and Mads Kjellerup Dambæk jointly head up the practice; Toftgaard is an acquisition and structured finance specialist while Dambæk leverages his ‘exceptional sector knowledge’ to advise directors and managers. The arrival of Jannie Schibler from Danske Bank in March 2021 has further strengthened the group’s finance offering.
Other key lawyers:
‘The team around both Mads Dambæk and Kim Toftgaard are a top-notch practice providing quick, cost-effective advice whilst still being able to drive projects with both a business and strategic view.’
‘Mads Dambæk has exceptional sector knowledge and a unique network.’
‘Kim Toftgaard has a unique ability to ensure deal certainty and produce legal work of both high quality but also very quickly.’
‘What really separates the team from other top firms is the willingness to allocate resources to understand the client’s nature, sector and business and to utilise this knowledge to create value in their work.’
‘Mads Dambæk is one of the leading individuals. He is very hands on and always seek to bridge his expertise knowledge and commercial understanding with clients needs in order to meet the client’s objectives.’
Skandinaviska Enskilda Banken
Spar Nord Bank
Copenhagen Infrastructure Partners
Deutsche Pfandbrief Bank
EKF – Danmarks Eksportkredit
Den Sociale Kapitalfond
Saga Private Equity
- Advised Alm. Brand on its acquisition of RSA’s/Codan’s Danish activities from Tryg and Intact for €1.69bn.
- Advising Nexi on its merger with Nets.
- Advising EQT on its €800m acquisition of Chr. Hansen’s natural colours division.
Utilising its international network, DLA Piper Denmark is well-equipped to act on behalf of investors and issuers in both domestic and cross-border transactions. Real estate finance work has long been a cornerstone of the practice, reflected by co-head Ulrich Hejle ‘s strong property finance expertise. Joachim Kundert Jensen also leads the team and handles transactions relating to large assets and M&A mandates. Another area of strength for the group is its structured finance and debt capital market expertise, while areas of growth include renewable energy finance and venture finance mandates.
‘Commercially oriented and focused on solutions.’
‘The team seems to be working very well together, also with the other Nordic practices. It is a great advantage for Nordic transactions that the cooperation and flexibility is smooth.’
‘Joachim Kundert Jensen is very practical and has a quick approach to the assignments.’
‘Nicolai Rothemejer Hansen is a very competent associate, who is on top of a transaction, flexible and responsive.’
‘Ulrich Hejle and Cecilie Markvart Haugsted are always available and deliver on time.’
Kinnerton Credit Management A/S
Real Danmark A/S
Landesbank Hessen-Thüringen Girozentrale (Helaba)
DSV Panalpina A/S
AP Møller Maersk A/S
Silicon Valley Bank
Bank of New York Mellon
- Assisting Helaba with the financing of Blackbrook’s acquisition of two of Danske Fragtmænd’s distribution centres.
- Acted on behalf of Pemberton and Lucid Fund, in respect of the ASG Group’s acquisition of CASA Group, a large Danish building contractor.
- Assisted Helaba – Landesbank Hessen Thüringen Girozentrale with the financing purchase of two commercial properties in the Copenhagen area by Blackbrook.
Providing ‘high-quality legal work’, Horten‘s banking and finance team advises on all types of financing matters, regulatory issues and financial instruments. Led by Lars Lüneborg, the team is particularly skilled at handling acquisition financing work and large corporate lending matters as well as real estate and construction financings. The group is also strong in project financing matters, with the ‘outstanding’ Claus Bennetsen advising on a 39.6MW Kuslin wind park project in Poland.
‘Good knowledge of insolvency law; excellent English language capabilities; commercial attitude.’
‘High-quality legal work, pleasant to work with.’
‘Lars Lüneborg provides top-level work.’
‘Birgitte Frølund: very approachable and responsive.’
‘We have been mainly working with Claus Bennetsen, and have been very pleased with his work, as he is in our view an outstanding professional, who always gives sound and practical advice, providing real added value on the files.’
Nordic Property Financing K/S
Polaris Private Equity
Bayerische Landesbank, London Branch
The European Bank for Reconstruction and Development
Waterland Private Equity Investments
Patrimonium Middle Market Debt Fund
The Danish Growth Fund
Maj Invest Equity
Triple Nine Group
- Advising the mandated lead arrangers, primarily Commerzbank, on the senior secured financing of the acquisition of Danish high-quality broadband network company, DKT A/S by German listed private equity fund, Deutsche Beteiligungs AG through its portfolio company, BTV Multimedia GmbH, as well as a refinancing the BTV Group in connection with a management buyout.
- Acting as lead counsel to Polaris Private Equity on the financing by Capital Four of the acquisition of the Contour Group across Denmark, the US and China.
- Assisting Nordic Property Financing with establishing a new DKK3bn Nordic property market loan fund and closing the first loan of DKK784m to an SPV sponsored by KKR, with other loans in the pipeline.
Poul Schmith leverages its long history of acting as adviser to the Danish government to provide other clients with expert advice on financial regulation issues; practice co-head Peter Hedegaard Madsen has a strong full-service regulatory practice, handling both contentious and non-contentious matters. The team is also skilled at acquisition financing and project financing work, with a particular focus on lender-side transactions. Henrik Kure and Jakob Echwald Sevel jointly lead the team with Madsen.
‘Just great! Really understands what is driving the value on specific transactions.’
‘We highly appreciate Henrik Kure’s theoretical expertise because he is such a good practitioner. Henrik has a talent for pinning down the issues of commercial significance and getting the deal done. Would recommend Henrik to any type of business seeking financial advice.’
‘Great and dedicated team.’
Danmarks Grønne Investeringsfond
- Assisting Vækstfonden with the establishment of the Covid-19 guarantee scheme for large companies, making it possible for Vækstfonden to guarantee new loans made available to Danish companies that had suffered losses from the pandemic.
- Advising Danske Bank and Realkredit Danmark on a €600m financing of a Scandinavian logistics portfolio including assets located in Denmark, Sweden and Finland.
- Advising Waterland Private Equity on a €230m unitranche financing for Global Equestrian Group, including advising on acquisition facilities for a major add-on acquisition in the US.
The banking and finance team at Lundgrens has significant experience in insolvency and restructuring work as well as real estate financings, reflected by practice co-heads Kristian Gustav Andersson and Lars Kjær ‘s expertise in these respective areas. The team is also strong in financings in the oil and gas sector, advising one of the major players in this area, Norwegian Energy Company (Noreco).
‘The team is highly skilled within structuring and understanding complex structures. They are solution-driven and always available. Our company deals with lawyers within Real Estate and Financing as cross-practice cases.’
‘Within the Finance practice, Lars Kjær delivers advice on a very high level, understanding our needs and still combines it with advice based upon the law. He comes highly recommended.’
‘They are outstanding.’
‘Fully dedicated team, great experience and speedy responses.’
Noreco Oil & Gas
Spar Nord A/S
NREP A/S (Nordic Real Estate Partners A/S)
Artha Investment Management A/S
Scope Investment Management A/S
Danske Bank A/S
Nordea Bank Danmark A/S
Nordic Trustee & Agency AB
Jyske Bank A/S
- Assisted NREP with a financing package of around DKK1bn for the UN17 sustainable residential project.
- Assisted Spar Nord A/S with the project financing of DKK535m to the Finnish CapMan group.
- Assisted investment manager Blackbrook on several financings of DKK500m.
Magnusson Advokatfirma advises on transactional as well as regulatory banking and finance matters, with particular expertise in refinancing issues and bilateral and syndicated loans. Søren Theilgaard and Martin Skovbjerg jointly head up the practice; Theilgaard is an expert within the financial regulatory space while Skovbjerg, who joined the group in November 2021, has extensive experience advising on the lender, trustee and borrower sides of financial arrangements. Sam Jalaei focuses on capital markets work.
‘The team is responsive, engaged and on message.’
‘Sam Jalaei is approachable, responsive and commercial’
‘Sam Jalaei – really good at understanding our needs and answer our questions the first time.’
‘The law firm represents a very high level of expertise. It remains in constant contact with its clients. It prepares extremely insightful materials, comprehensively approaching the issues which are the subject of analysis. The field of fintech is definitely their strong point. Contact with the firm is excellent and potential clients would certainly like to work with such reliable and trustworthy partners.’
‘High level of knowledge and value of expertise provided. At the same time, attention to nuances and up-to-date information on actions taken.’
Spotlight Stock Market
Aurora / Richmond Group
Spar Nord Bank A/S
Home Credit Group International
Webshield Legal Library
GF Money Finance
South African Reserve Bank
Scinomed Deutschland GmbH
Constant Company LLC
Diehl Group GmbH
Social Gaming LLC
Solvay Group SA
- Assisted Spotlight Stock Market with conducting legal due diligence of the two Danish midcap biotech/pharma/life science companies, CuraSight A/S and CessaTech A/S, and its shareholders and management.
- Advising Market Pay, a major fintech player developing new payment means, on a major acquisition in Denmark and Lithuania.
- Assisting a Swedish headquartered and stock-listed multinational on its Nordic cash pool with regards to financial regulation issues as well as managing a multi-jurisdictional legal compliance review covering Sweden, Finland, Denmark, Estonia, Latvia and Lithuania.
Moalem Weitemeyer has a strong acquisition finance practice and is also well equipped to advise on financial regulatory matters. Led by Henning Aasmul-Olsen , the group has notable strength in debt offerings, which has been further strengthened by the arrival of senior associate Kristoffer Lund Poulsen from Kromann Reumert in May 2021.
‘We used them on a couple of shipping matters for local law support and they were great. Very responsive and nice to deal with.’
‘Only firm we have used in Denmark for a few years and no complaints. Local law opinion and input provided in a timely manner.’
‘Very strong at being responsive to international client needs, with respect to local Danish law interpretations. Very commercial in terms of engagement and problem-solving orientation.’
DSV Panalpina A/S
KPS Capital Partners
FSN Capital Partners
Luxor Capital Group, LP
Endemol Shine Group
EQT Private Equity
JOOL Capital Partners
Polaris Private Equity
- Advised the issuer D/S Norden A/S in connection with the issuance of $100m senior unsecured non-callable bonds under a $150m frame.
- Advised APCOA Parking Holdings GmbH in connection with the company’s bond offering covering a €685m Senior Secured Notes due 2027.
- Advised JOOL Capital Partner AB in connection with the bond financing provided to several Danish issuer companies, including NPV A/S, CPHI-Holding A/S and Frederiksborg Ejendomme 2 ApS.
Specialising in banking, finance and capital markets work, Carsted Rosenberg's ‘visionary’ practice provides advice on large-scale cross-border transactions. It is the only Danish firm represented in Frankfurt and is therefore in a unique position to handle Danish-German transactions. The ‘exceptional’ Michael Carsted Rosenberg jointly heads up the practice with Dr. Andreas Tamasauskas who has expertise in securitisation issues and real estate and project finance mandates.
‘Excellent team. Very reliable, efficient and professional.’
‘The quality is always very high and the response time is outstanding.’
‘The team provides Magic Circle-quality work out of Denmark on banking & finance transactions. You receive a service on an international level with a local team with excellent connections in the Danish and German financial market.’
‘They are fast and efficient and provide a quality service for clients. You can rely on excellent transactional skills and in-depth answers to any questions that may arise. The banking & finance practice stands out for its use of transaction software to execute transactions.’
‘Michael Carsted Rosenberg is an exceptional finance lawyer who is not only an expert in Danish law but also built up an excellent network that covers all Nordic countries.’
‘ Dr Andreas Tamasauskas is an effective and thorough banking & finance partner, always available and always reliable for clients on transactional matters. Very good commercial understanding and pragmatic solutions to ensure a successful and effective closing. ’
‘C&R is a visionary and has taken the lead on cross-border opportunities for European firms in regards to accessing American capital on the US OTC stock market. They have implanted a new onboarding and application process not used by other law firms in the space to more effectively onboard clients. ’
‘Very structured and clear process of delivery of services to the client. We were not lost in legal complexities. We always know where we are in project and why we are doing this. Everything was explained very simply and quickly, without long memorandums with complex legal terminology. ’
JT Finance Scandinavia
Banco Santander S.A.
UniCredit Bank AG
Frontmatec Group A/S
- Advised Ageras, a Copenhagen-based company operating a B2B marketplace for accountants and other financial service providers for SMEs, on the banking & finance aspects of an investment deal of DKK450m.
- Advised Landesbank Baden-Württemberg in relation to a credit facility entered into by a leading Danish commodities trading company.
- Advised Santander Bank on the Danish legal aspects in relation to a financing for the South American subsidiaries for Danish Food Group Danish Crown.