Banking, finance and capital markets in Luxembourg

Allen & Overy Luxembourg

Able to leverage the firm’s vast international network of offices and thereby to provide ‘advice in a co-ordinated manner’, Allen & Overy Luxembourg‘s ‘extremely accessible’ five-partner team excels in advising banks, funds and corporates across a wide array of regulatory and transactional matters, often with a cross-border component. Team head Henri Wagneris very knowledgeable in relation to Luxembourg banking and financial services regulation‘ and harnesses this knowledge to excellent effect in both a standalone advisory context, as well as in a transactional setting. As well as regularly providing local law advice to major investment/commercial banking clients in the context of cross-border financing to facilitate acquisition, real estate and asset finance transactions, the firm also has strong private banking connections, an area in which André Marc is particularly well-versed. On the capital markets front, the team is ‘well connected and always up-to-date’, enabling it to provide cutting-edge solutions to issuers and underwriters across a myriad of complex structures, including in the context of structured products and derivates mandates. Paul Péporté has ‘excellent technical knowledge‘ and alongside the ‘well-connected and accessibleFrank Mausen is the principal contact for regulatory and transactional capital markets matters.

Practice head(s):

Henri Wagner; Pierre Schleimer; Frank Mausen; Paul Péporté


‘Strong collaboration from various firm offices, where they manage to complement each other on different aspects and provide advice in a co-ordinated manner.’

‘The firm has strong Luxembourg bank and financial services expertise.’

‘The team is extremely accessible and has a very strong knowledge of both the Luxembourg market and the relevant regulations and practices.’ 

‘The capital markets team in Luxembourg is the most knowledgeable team in the country. They are well connected, always up-to-date and offer the best legal solutions.’

‘Henri Wagner is very knowledgeable in relation to Luxembourg banking and financial services regulation.’

‘Paul Peporte excels at handling specific Fintech matters and is extremely knowledgeable and available.’

‘Paul Peporte: always accessible, excellent technical knowledge, eager to find solutions.’

‘Frank Mausen: always accessible, well connected, excellent technical knowledge.’

Key clients

R + Versicherung AIFM S.à r.l.

Goldman Sachs/Société Générale/Banco Santander

Cromwell European REIT (CEREIT)

Morgan Stanley/Goldman Sachs

Quintet Private Bank (Europe) S.A.

Eurofins Scientific SE

ING Luxembourg

Morgan Stanley & Co. International Plc


JP Morgan


Arendt & Medernach

Co-headed by Glenn Meyer and François Warken, Arendt & Medernach‘s ‘highly analytical and responsive’ seven-partner team has the strength-in-depth to handle a significant volume of banking, finance, insurance and related regulatory matters. Meyer is ‘extremely dedicated and hardworking‘ and spearheads the firm’s efforts on the regulatory front, which includes complex licensing application (approval) work, fintech-related advice, financial services M&A and Brexit-related advice. Other key members of the regulatory offering include Philippe Dupont, who is noted, in particular, for his contentious expertise; Marc Mouton, who is a ‘knowledgeable strategic advisor‘ on both traditional bank regulatory concerns and fintech matters; and Pierre-Michaël de Waersegger, whose ‘experience and knowledge in insurance law is unique in Luxembourg’. On the transactional front, Matthieu Taillandier and Grégory Minne provide a broad offering to lenders and borrowers on mandates throughout the credit spectrum, including as it relates to asset finance, a particular strength of Minne’s. The ‘very knowledgeable and friendly‘ Warken combines regulatory and transactional expertise to good effect for capital markets participants engaged in both the debt and equity space. He is aided in this regard by the vastly experienced Laurent Schummer, who combines ‘in-depth knowledge of the Luxembourg capital markets laws and the market practice and views of the regulator with pragmatic guidance’.

Practice head(s):

Glenn Meyer; François Warken


‘The team has the right balance in understanding and managing the desired outcomes of the client and plainly laying out the risks and potential consequences in a way management can understand.’

‘The highly analytical and responsive team has vast knowledge and understanding in all areas related to banking law.’ 

‘They are very responsive, proactive and thorough. They provide analysis we can trust with our eyes closed.’

‘We really appreciated Pierre-Michael de Waersegger’s expertise, excellence, high sense of responsibility and reliability.’

‘Glenn Meyer manages to explain very complicated regulatory issues in simple language and is very pro-active in finding solutions.’

‘Gregory Minne is a very good lawyer and is available at short notice.’

Laurent Schummer combines excellent in-depth knowledge of the Luxembourg capital markets laws and the market practice and views of the regulator with pragmatic guidance.’

‘Philippe Dupont provides advice at the highest level and has proven to be a great asset in complex cases.’

‘Marc Mouton – strategic adviser as well as knowledgeable about the detail.’

‘Francois Warken is a very knowledgeable and friendly capital markets and corporate governance lawyer with a lot of experience in the Luxembourg market.’

Key clients

Clearstream Banking


Credit Suisse


Goldman Sachs

Crédit Agricole




Northern Trust

Work highlights

  • Advising a leading independent Luxembourg private portfolio manager on its gradual acquisition by a leading Swiss private bank.
  • Advised Allied Universal, a leading American provider of security systems and services backed by private equity firm Warburg Pincus and Canadian pension fund Caisse de Depot et Placement du Quebec with respect to the financing aspects of its acquisition of the UK private security services G4S plc.
  • Assisted L Catterton, the largest global consumer-focused private equity firm part-owned by LVMH, together with Financière Agache, the family investment firm of Bernard Arnault, the French billionaire who controls the designer brand conglomerate LVMH, on the acquisition (and financing) of global lifestyle brand BIRKENSTOCK.

Clifford Chance

Co-headed by Steve Jacoby and Marc Mehlen, Clifford Chance‘s five-partner team provides ‘excellent legal skills‘ to banks and funds across the panoply of transactional and regulatory work, including in the context of new money/refinancings and financial services M&A. It is also at the vanguard of developments within the burgeoning fintech arena, an area where Jacoby has particular expertise, including on blockchain technology and cryptocurrencies. Mehlen’s principal area of focus remains within the debt capital markets space, where he advises underwriters and issuers on regulatory and transactional matters associated with debt products, in particular. Martin Wurth has a focus on fund financing work for lenders and funds, while recently promoted partner Stefanie Ferring provides ‘responsive and client-oriented’ advice, particularly in the context of restructuring/insolvency matters.

Practice head(s):

Steve Jacoby; Marc Mehlen


‘Excellent legal skills, good knowledge of our institution and of the Luxembourg market.’

‘Stefanie Ferring: excellent lawyer, responsive and client oriented.’

Key clients


Midas International and l’Etoile Gestion

Codere S.A.

Partners Group

UniCredit Bank AG

Morgan Stanley

Banco Santander S.A. and Crédit Agricole Corporate and Investment Bank

European Investment Bank

European Investment Fund

ING Bank N.V.

Wells Fargo


Amundi Real Estate


A consortium of banks consisting of Santander Bank Polska and ING Bank Śląski

Tristan Capital Partners

Work highlights

  • Advised Allegro, Poland’s leading commerce platform and most recognised e-commerce brand, on its $11.2bn IPO (Warsaw Stock Exchange’s largest IPO to date).
  • Advised the lenders and lead arrangers respectively on two major financings raised by Cromwell European REIT (CEREIT), a diversified Pan-European Real Estate Investment Trust listed on the main board of the Singapore Exchange Limited.
  • Advised the lenders to a consortium led by EIG in relation to Saudi Aramco’s sale of a 49% equity stake in a newly-formed Saudi Aramco subsidiary, Aramco Oil Pipelines Company.

Elvinger Hoss Prussen

At the forefront of the financial industry’, Elvinger Hoss Prussen provides ‘market oriented and very precise’ advice to local/international banks, corporates and funds across a wide array of financing/advisory mandates. Capital markets work is a particularly strong suit for the firm, where a balanced issuer and underwriter client roster ensures that it picks up sizeable deal flow from both sides of the table, including on sustainable bonds. Notably, Philippe Hoss advised the underwriters to the Luxembourg government on its recent €2.5bn bond issuance. Karl Pardaens co-heads the firm’s capital markets initiative alongside Hoss and as well as handling conventional debt and equity work in the space, is also abreast of cutting-edge fintech-related developments, including in the context of tokenised bond offerings. André Hoffmann is vastly experienced across pure financial services regulatory matters and provides ongoing corporate governance advice to clients on their day-to-day activities, as well as assisting international entities on the necessary compliance/regulatory issues associated with establishing a presence in Luxembourg. The team also has ‘exceptional knowledge of fund finance transactions’, an area in which Cintia Martins Costa is particularly accomplished. Pit Reckinger is also recommended.

Practice head(s):

André Hoffmann; Pit Reckinger (banking); Philippe Hoss; Karl Pardaens (capital markets); Cintia Martins Costa (finance)


Other key lawyers:

Azadeh Djazayeri; Ana Bramao


‘Despite its size, the firm has maintained its independence and a strong set of values built around client dedication, diversity and perfection. The firm has largely contributed to the development of Luxembourg as a financial centre and remains at the forefront of the financial industry, which ultimately benefits the client.’

‘What always strikes me when working with the firm is the availability and the level of dedication of the senior partners. Their high degree of involvement combined with their industry experience leads to above par solutions for the client.’

‘Solutions provided are workable, pragmatic and add real value. The practice is also well-connected to a set of like-minded international firms, which is very helpful when working on trans-border transactions.’

‘The team is market oriented and very precise in its advice.’

‘The team has exceptional knowledge of fund finance transactions.’

‘Cintia Martins Costa finds simple solutions to complex issues and has the great benefit of realising when issues are material.’

Key clients

Banque J. Safra Sarasin (Luxembourg) SA

Société Générale

Elavon Financial Services DAC / US Bank

The European Investment Bank

The European Investment Fund

Revantage Europe


ArcelorMittal SA

Chanel Ltd

TDR Capital Managers Limited

Ardagh Metal Packaging S.A.

Goldman Sachs & Co LLC

Work highlights

  • Advised the joint lead managers (Banque et Caisse d’Épargne de l’État, Luxembourg, Banque Internationale à Luxembourg, Barclays Bank plc, BGL BNP Paribas and Deutsche Bank) on a €2.5bn bond issuance by the Grand Duchy of Luxembourg.
  • Advised the ad-hoc committee of lenders on the Luxembourg law aspects of the financial restructuring of the AccorInvest group, which operates 880 hotels worldwide and employs around 26,000 employees in 28 countries.
  • Advised Ardagh Metal Packaging on its business combination with Gores Holdings V, Inc.


Appreciated by clients for its ability ‘to tackle complex issues’, Linklaters provides ‘swift and accurate legal feedback‘ to lenders and borrowers engaged in high-profile multi-jurisdictional banking and capital markets mandates. ‘Very experienced and approachable‘ team head Nicki Kayser is well-versed in structuring complex banking and capital markets mandates and is at the cutting edge of developments in the market, not only as a result of his fee-earning work but also his involvement for industry bodies, including the CSSF’s Capital Markets Committee. The ‘exceptionalPatrick Geortay ‘is always solutions-oriented and able to find innovative solutions’, ensuring that he is a popular choice for lenders and borrowers on complex regulatory and transactional mandates, including as it relates to acquisition and real estate finance. Melinda Perera is an integral member of the firm’s ‘very knowledgeable‘ capital markets offering, while counsel Eliane Dejardin Botelho is noted for her ‘pragmatic approach‘ on regulatory matters, and has been involved in a number of bank and insurance set-ups and reorganisations in Luxembourg and abroad.

Practice head(s):

Nicki Kayser


‘The team provides very swift and accurate legal feedback.’

‘Strong team of lawyers, able to tackle complex issues and to swiftly prepare the legal documentation.’

‘They are very knowledgeable at handling Luxembourg capital market transactions and are supportive in their ability to solve unforeseen problems on the way of execution of trades.’

‘Nicki Kayser is very experienced and approachable.’

‘Patrick Geortay is an exceptional lawyer. He masters many aspects of the law and is able to give a clear, precise and quick opinion. He understands the issue quickly and can produce a clear and useful answer just as quickly. He is always solutions-oriented and able to find innovative solutions.’

‘Tiago Ventura Mendes is very supportive and client oriented. He helps to find workable solutions.’

‘Eliane Botelho Dejardin has a pragmatic approach.’

‘Delphine Horn is always efficient and helpful.’

Key clients

Centerbridge Partners


Barings Real Estate


Ardian Buyout Fund VIII B


China Construction Bank

ProLogis international Funding II S.A.

Berenberg Bank – Joh. Berenberg, Gossler & CO. KG

Arrival SARL

Shurgard Self Storage

Grand Duchy of Luxembourg

Groupe Bruxelles Lambert

Work highlights

  • Advising Data4, a Paris-based data centre operator, on its record €620m debt financing transaction.
  • Advising the joint bookrunners on the first tech-focused SPAC IPO in Europe by Lakestar SPAC ISE.
  • Advising the underwriters on the largest-ever social bond issued by the European Commission.

Loyens & Loeff

The ‘pragmatic and experienced’ team at Loyens & Loeff provides ‘very responsive and client-oriented’ advice, directly to funds and banks, as well as in the context of referral work from many high-profile international law firms, across a broad swathe of cross-border bank loan and capital markets mandates. The ‘incredibly approachable and friendly’ Anne-Marie Nicolas is ‘knowledgeable on all aspects of Luxembourg law affecting financing transactions‘, particularly in the context of sponsor-led acquisition finance mandates. The ‘commercial and responsiveVassiliyan Zanev excels at advising on cross-border structured finance mandates and also has a market-leading reputation for fund financing work. Michael Schweiger spearheads the financial services regulatory offering and is a key member of the overall finance offering. Cedric Raffoul left the firm. Since publication, Elie-Raphaël Soudry left the firm.

Practice head(s):

Anne-Marie Nicolas (secured lending including acquisition finance and financial restructuring); Vassiliyan Zanev (fund finance and securitisation); Michael Schweiger (financial regulatory)


‘The team is pragmatic and experienced.’

‘The hugely knowledgeable banking team is very responsive and client-oriented.’

‘I consider this team an extension of myself – they work hand in glove with us as a trusted partner on the Luxembourg legs of our transactions, assisting with complex capital markets and banking matters, including taking of security, issuing of bonds and liaising with the Luxembourg Stock Exchange and securities regulator (depending on the nature of the deal).’

‘They understand the client’s local concerns with a global perspective.’

‘It is an excellent team that is very proactive and technically savvy.’

Vassiliyan Zanev is commercial, responsive and knowledgeable about his clients’ businesses.

‘Anne-Marie Nicolas is incredibly approachable, friendly and knowledgeable on all aspects of Luxembourg law affecting financing transactions.’

Key clients

Bank of America


Goldman Sachs

Hayfin Capital Management

JP Morgan

Morgan Stanley

Telefónica Insurance SA

Wells Fargo



Royal Bank of Canada

Nordic Capital


Work highlights

  • Advised on the issuance of Novartis’ first healthcare industry sustainability-linked notes.
  • Advised on the €1.8bn financing of the acquisition by Catterton of a majority stake in the iconic German shoe manufacturer Birkenstock.
  • Advised Bank of America on the largest ESG-linked subscription credit facility in the US for certain investment funds managed by The Carlyle Group, the first ever to focus exclusively on promoting board diversity.


Appreciated by lenders and borrowers for its ‘very good knowledge of financial services regulation’ and its ‘solutions-oriented’ approach on transactional mandates, BSP is well regarded across a broad spectrum of conventional and more esoteric financing structures. The firm is particularly accomplished advising on capital markets work, an area in which the ‘very knowledgeable and proactive’ Pierre-Alexandre Degehet is particularly skilled, as is the ‘highly commercialNuala Doyle. Team head Laurent Lazard has particular expertise advising on complex securitisation structures.


‘The approachable team provides reliable, responsive and commercial advice.’

‘I only work with the capital markets practice. It is very solutions-oriented and works very closely with the clients.’

‘The team has very good knowledge of financial services regulation.’

‘Pierre-Alexandre Degehet is very knowledgeable, hands-on and proactive.’

‘The excellent Nuala Doyle is highly commercial and has a great understanding of what is important to funds and other sophisticated market players.’

Key clients

ADLER Group S.A. (formerly ADO Properties S.A.)

Goldman Sachs International

ACREFI Mortgage Lending, LLC

Bayerische Landesbank



IVS Group SA

LLC Sberbank Investments

B2Kapital Holding S.à r.l.

Novus Capital Luxembourg S.A. (SPV set up by Nomura)

Corestate Capital Holding S.A.

Kartesia Management S.A.

Oaktree Capital Management

IFU – Investment Fund for Developing Countries

Royal Bank of Canada

Solutions 30 SE

Work highlights

  • Advised Royal Bank of Canada on a loan provided to the Luxembourg subsidiary of Morgan Stanley Real Estate Fund (MSREF) for the partial refinancing of MSREF’s loan obtained for the purposes of the acquisition of office space in Cambridge Science Park.  
  • Advised ADLER Group S.A. as exclusive Luxembourg counsel in its major M&A activities in the first half of 2020 and on all Luxembourg aspects of its manifold refinancing efforts resulting in a substantial reduction of the company’s average cost of debt and maturity, while at the same time also lowering its LTV.
  • Advised Oaktree Capital on the financing they have provided to the Luxembourg holding company of the Italian football club Inter Milan, for the purpose of financing its cash flow needs created due to the global pandemic.


Leveraging its Benelux presence and also deriving a considerable amount of US and UK-based instructions, where it is aided by established Luxembourg desks in London and New York, the ‘very responsive’ team at NautaDutilh excels in handling cross-border mandates for a varied mix of banks, asset managers and corporates. The team, which is headed by Josée Weydert, was strengthened by the arrival of Sara Gerling in October 2020 from Arendt & Medernach and also includes Margaretha Wilkenhuysen, who is adept at handling a broad spectrum of banking and capital markets mandates. Counsel Ann Blaton has been pivotal to the firm’s success in engendering strong ties with UK-based clients and she heads up the firm’s Luxembourg desk from London. Jad Nader joined Ogier in July 2020.

Practice head(s):

Josée Weydert


‘There is a high level of integrity throughout the entire team.’

I enjoy the firm’s continuing support as regards to Dutch law input to my German financing matters. They have a broad bench and are well accepted on the panels of my German clients.’

‘The team provides a personalised, yet competent approach to task and documentation.’

‘The lawyers are extremely responsive, knowledgeable and very pleasant to work with.’

‘Sara Gerling is excellent with regard to Luxembourg law. Sara speaks fluent German, which is of big support to my German lending clients.’

Key clients

Albacore Partners

Altisource Portfolio Solutions SA

Barclays Bank

Bawag Group

Credit Suisse

Deutsche Bank Securities

Goldman Sachs International


Jefferies Finance LLC

Masonite International Corporation

Minerva Luxembourg S.A.

Morgan Stanley


Nueva Elektra Del Milenio SA de CV

Onex Corporation

Orion Engineered Carbons



Thomas H. Lee Partners, L.P.

U.S. Bank National Association

Wells Fargo

Work highlights

  • Advised Nueva Elektra del Milenio, a subsidiary of Grupo Elektra, in connection with the creation of a cross-border remittances securitisation programme and its first USD-denominated 144A/Reg S Senior Notes offering for $500m.
  • Advised the underwriter banks with regard to Altice France’s issuance of $475m aggregate principal amount of its high yield notes, guaranteed by, among others, YPSO Finance S.à r.l. and YPSO Finance BIS S.A.
  • Advised a mixed consortium of banks and an insurance company led by Deutsche Hypothekenbank (Actien-Gesellschaft) on the financing of four construction phases of the Heidestrasse urban quarter.

CMS DeBacker Luxembourg SCS

Benefiting from increased local bench strength, as a result of a targeted hiring strategy, CMS DeBacker Luxembourg SCS has ‘the right technical expertise to assist in any kind of matter, irrespective of its complexity’ and now has the critical domestic resources to match that of many of its other key European international offices. Cross-border work is therefore naturally a key strength and in this regard the firm is able to provide a one-stop-shop service and an ability to ‘look after the interests of parties in a uniform manner’. Key to the team’s growing success is the expertise of team head Vivian Walry, who is noted for his ‘very clear business-oriented approach’.

Practice head(s):

Vivian Walry



‘The team is proactive with good knowledge of relevant banking and finance principles.’

‘Technically they have the right expertise to assist in any kind of matter, irrespective of its complexity. Their “future facing” brand is more than simple words, and they are always anticipating the client’s needs with superb service.’

They provide a prompt efficient service, understanding clients’ cross-border requirements.’

An excellent level of commitment to quality, significant knowledge and understanding in many areas related to banking law, high analytical skilled lawyer, best responsiveness, listening skills, high availability.’

‘The excellent Vivan Walry not only has a superb grasp of the legal angles, but is very well-versed in the broader business aspects. Attention to detail is second-to-none.’

‘Vivian Walry is excellent with clients. Always prepared to go the extra mile and is very good at explaining complex concepts in an easy to understand manner which clients appreciate very much.’

‘The very clever Vivian Walry has a very clear business-oriented approach to matters. In addition, he is always available and involved in the matters, which helps to create the necessary confidence. His technical skills and experience are out of discussion.’

‘Zornitsa Dimitrova is very fast and precise; has a super understanding/knowledge of her legal practice area and is very good in finding solutions which work for all.’

Key clients

Bank of Ireland

UniCredit Bank


Royal Bank of Scotland


National Australia Bank

Erste Bank

Raiffeinsenbank International

Aareal Bank AG

Novo Banco


Led by the ‘results oriented and pragmaticStéphane Hadet out of Luxembourg and also able to draw upon expertise from across the firm’s extensive international network of offices, Dentons is well-placed to advise lenders/borrowers on multi-jurisdictional financings. As well as real estate-related work, the team is particularly well regarded for its fund financing expertise and is noted for its ‘strong industry knowledge’ in the field.

Practice head(s):

Stéphane Hadet


‘The firm has three significant competitive advantages within the fund financing legal market: strong industry knowledge, reasonable fee and pragmatism/solutions-oriented advice.’

‘Stéphane Hadet and Olivier Lesage have great industry knowledge, pragmatism and a results-oriented approach.’

Key clients

CPI Property Group

Bank of Montreal


Islamic Development Bank

Spectrums brands

Round hilll Capital


Globe Trade Centre S.A

Work highlights

  • Advised CPI Property Group on a series of successful transactions, including a consent solicitation, a tender offer, and a bond issuance raising more than €1bn.
  • Advised Bank of Montreal on a $350m revolving credit facility to two Canadian companies, one of them being Clearwater.
  • Advised Globe Trade Centre (GTC), the Polish based CEE focused real estate company, on the issuance of green bonds.

DLA Piper

The ’young, talented and dynamic’ team at DLA Piper continues to gain market traction for a growing and loyal client roster, which are impressed not only by its ‘good knowledge of the banking regulatory framework’ but also its aptitude at handling cross-border mandates – where it can leverage vast resources across its international network. Combining a ‘a unique set of great technical and soft skills’, team head Xavier Guzman provides a ‘hands-on and pragmatic approach’ to clients, including as it relates to multi-jurisdictional acquisition finance matters. Praised for his ‘strong commercial mindset’, Laurent Massinon is also a key member of the team and has ‘extensive experience in project finance’.

Practice head(s):

Xavier Guzman


‘The firm offers comprehensive advice in the field of asset finance and the team has a good knowledge of the banking regulatory framework. The team has built a loyal client base since the launch of the Luxembourg office a few years ago.’

‘Backed by its international network, the Luxembourg office is frequently involved in multi-jurisdictional financing and acquisition matters and has rapidly developed good cross-border capabilities.’

‘It is a young, talented and dynamic team, which offers a responsive service.’

‘Laurent Massinon is the firm’s most visible finance lawyer and has a strong commercial mindset, combined with an extensive expertise in project finance.’

‘Laurent Massinon perfectly understood our needs and prepared on time the requested presentation. He is always in a good mood with strong technical skills. He is a trusted advisor.’

‘Xavier Guzman combines a unique set of great technical and soft skills. His hands-on and pragmatic approach permit clients to get matters completed in a seamless fashion.’

Key clients

Deutsche Bank Luxembourg

Medtronic Global Holdings S.C.A.

Signature Capital

Danaher Corporation

Suning Sports International

Ophde Advisors, LLC

AXA Real Estate Investment Managers UK Ltd

PRA Group, Inc.

Allianz GmbH

Elite Partners Capital

Riyad Capital

Work highlights

  • Represented Axalta Coating Systems in a €1.6bn finance restructuring in more than 25 countries.
  • Represented Medtronic Global Holdings S.C.A. in a €6.25bn bond issuance.
  • Represented Suning Sports International the owner of Italian football club Inter Milan, on a €275m high yield note financing by Oaktree Capital Management Company.

Pinsent Masons

Pinsent Masons entered the market in July 2022 following its recruitment of a number of former Wildgen partners and teams. The  ‘pragmatic’ team picks up a significant amount of work for banks and private equity sponsors on mid-market acquisition financing mandates, often with a nexus to Germany. Fund finance is another core area of focus, an area in which ‘responsive‘ director Michael Mbayi  is particularly active on behalf of a lender-focused client base. Michel Bulach is noted for his ‘excellent knowledge of Luxembourg and European banking regulatory frameworks’. Since publication, Mevlüde-Aysun Tokbag left the firm.

Practice head(s):

Michel Bulach


Other key lawyers:

Giuseppe Cafiero; Michael Mbayi


‘They deliver good quality advice, meet deadlines and advise pro-actively – all for a reasonable fee quote.’

‘The team work seamlessly together and delivers high-quality work on time and within budget.’

‘The team has a pragmatic approach and is suitable for mid-size structures like ours.’

‘Michael Mbayi is very knowledgeable on fund finance matters.’

‘Michel Bulach and Michael Mbayi are highly recommended for their excellent knowledge of Luxembourg and European banking regulatory frameworks.’

‘Giuseppe Cafiero has a really brilliant mind who supports our business with quiet and efficient ease.’

Key clients











Work highlights

  • Assisted the Luxembourg entity of ENCAVIS AG with the financing of the acquisition of various solar parks.
  • Advised RBS International (Lux Branch) on a €300m senior facility agreement to be granted to a Luxembourg investment fund.
  • Assisted CHRISTOFFERSON ROBB & COMPANY on entering into two securitisation transactions combining a Portuguese securitisation as acquiring vehicle and a Luxembourg securitisation as financing platform.


Benefiting from ‘in-depth market and financial sector knowledge’, Stibbe provides ‘pragmatic and deal-oriented’ advice to private equity funds on their downstream financing work and also regularly receives referrals from high-profile US and UK-based law firms. Jean-Marc Delcour is ‘extremely prolific’ and provides a  ‘service-minded’ approach to borrowers and lenders across a range of new money financing and restructuring mandates, including debt and equity capital markets matters. Gérald Origer heads the team.

Practice head(s):

Gérald Origer


‘The team is competent, reactive and pragmatic.’

‘The firm has in-depth market and financial sector knowledge.’

‘Very fast and reliable. Reasonable pricing. Better service and attention than competitors.’

‘Jean-Marc Delcour – a prolific lawyer. Extremely service minded. Always fast to respond and to the point.’

‘Jean-Marc Delcour is an excellent lawyer. Very hands-on.’

Key clients

Deutsche Bank



Odyssey Acquisition S.A.


Morgan Stanley

JP Morgan


SBM Offshore


Allied Irish Bank


Work highlights

  • Advised Adevinta ASA in connection with a listing and admission to trading of notes of the Euro MTF Market of the Luxembourg Stock Exchange.
  • Assisted Odyssey Acquisition S.A., a Luxembourg SPAC, on its IPO on Euronext Amsterdam, including the drafting of the prospectus and approval by the Luxembourg regulator (the CSSF).
  • Assisting Erste Group Bank AG on a state supported rescue financing for Austrian Airlines.

Baker McKenzie

Able to draw upon know-how and resources from across the firm’s extensive network of offices, Baker McKenzie excels in ‘delivering highly technical expertise and sophisticated pragmatic solutions’, particularly in the context of large-scale multi-jurisdictional financings. Particular areas of strength include real estate and acquisition finance, as well as securitisation matters. Jean-François Trappstands out for his sense of commerciality and pragmatism’ and co-heads the team alongside Laurent Fessmann. Jean-Philippe Smeets  was a new arrival in 2022.

Other key lawyers:

Sybille Briand; Alexis Bouvet; Aline Koenig; Jean-Philippe Smeets


‘The team is reliable, knowledgeable and pragmatic.’

‘The team has always been keen to deliver outstanding advice and services.’

‘Baker & Mckenzie has always acted with responsiveness when delivering high and strong valuable technical expertise and sophisticated pragmatic solutions.’

‘Jean-Francois Trapp is an exceptionally good negotiator and stands out for his sense of commerciality and pragmatism.’

Key clients

Zürcher Kantonalbank

BNP Paribas

Credit Suisse

Deutsche Bank






Morgan Stanley & Co. International

Banque Internationale à Luxembourg

Bevco Lux S.à r.l.

Work highlights

  • Borrower’s counsel in relation to a financing deal arranged by JP Morgan consisting of the restructure of the real estate financing transaction of two Italian regulated investment funds (REIFs).
  • Advised LANDESBANK BADEN-WÜRTTEMBERG in relation to a €37.7m facility agreement granted to a Luxembourg borrower in connection with the acquisition of a group of companies.
  • Advised Zürcher Kantonalbank as co-ordinator, agent and lender and the other syndicate banks on the establishment of a new five-year CHF 525m syndicated credit facility for dormakaba Group.

Bonn & Schmitt

Although it lacks the transactional prowess and involvement in the highest-profile mandates in the market of some of its higher-ranked peers, Bonn & Schmitt handles a fairly sizeable array of borrower-side real estate financing matters for corporates and funds. Another strength is the firm’s litigation prowess, which is harnessed to good effect from a risk management perspective, as well as in any formal disputes for financial services clients. Alex Schmitt heads the team.

Practice head(s):

Alex Schmitt;

Other key lawyers:

Françoise Pfeiffer

Key clients

Banque Internationale à Luxembourg

EQT Partners

Bayerische Landesbank



Capvis Equity Partners

China Development Bank

Cerberus Capital Management

Ad-hoc group of holders of notes issued by Galapagos S.A.

GSK Stockmann

Well-positioned to advise German speaking clients and also increasingly well-resourced at a partner level in relation to local law (having recently made up two partners), GSK Stockmann’s ‘approachable and proactive’ four-partner team provides a versatile service to lenders and borrowers across a wide spectrum of finance transactions, including in the context of real estate-related mandates for German banks. Andreas Heinzmann is ‘down-to-earth and knowledgeable’, particularly as it relates to debt capital markets matters; he regularly provides advice on the Luxembourg element of asset-backed securitisation transactions arranged through Luxembourg domiciled securitisation vehicles. Philipp Mößner co-heads the team alongside Heinzmann and is noted for his capital markets work.

Other key lawyers:

Valerio Scollo; Manuel Fernandez


‘They are straightforward, down-to-earth and very knowledgeable.’

‘The team conducts itself in a really professional way.’

‘We regularly use GSK for the Luxembourg element of asset backed securitisation transactions arranged through Luxembourg domiciled securitisation vehicles. The GSK team are very approachable, proactive and frequently impress with their deep expertise.’

‘Our main point of contact is Andreas Heinzmann. We have built a very good and efficient working relationship over more than 5 years.’

‘Valerio Scollo and Andreas Heinzmann are quick and uncomplicated.’

Key clients

Bank of China


Vicenda Asset Management

VP Bank

Aroundtown S.A.

Grand City Properties S.A.

FREO Group

Mediobanca International (Luxembourg) S.A.

4finance Group

Hauck & Aufhäuser Bank

Universal Investment

Work highlights

  • Advising Telecom Italia Finance S.A as lead counsel in relation to a €20bn medium term note programme, the note issue being secured by pledge agreements and mortgages over the assets of the borrower, governed by Luxembourg and Italian law.
  • Advised Mediobanca International S.A. on the syndication of a €500m loan originally made available by Natixis and BNP Paribas to Monaco Telecom.
  • Advised Aroundtown SA, the largest German listed commercial real estate company, in connection with a placement of $250m subordinated convertible notes due 2023, the first mandatorily convertible bond issued by a Luxembourg issuer.


Providing an ‘outstanding work’ product on both a legal as ‘well as a more strategic level’, KLEYR GRASSO provides a value added service to clients within the banking sector, from a pure finance perspective, as well as in relation to adjacent litigation, corporate and restructuring work. On the transactional side, particular areas of strength include asset, project and fund financing. Key practitioners include Jean-Paul Spang, who is appreciated for his ‘responsive work style’ and the ‘extremely ambitious’ Renata Jokubauskaite, whose wide-ranging finance knowledge includes niche expertise in the film and media sector.

Other key lawyers:

Jérôme Burel


‘The team is a highly professional team that is responsive, transparent and more than a “simple” legal firm – they are a true partner supporting us in the long-term with hands-on practical advice on a legal level.’ 

‘The team is friendly, knowledgeable and responsive in order to assist clients on tight deadline.’

‘Kleyr Grasso has developed over the last few years quite a good expertise in the field of asset, project and fund finance and has built a loyal client base in this area.’

‘Jean-Paul Spang is Kleyr’s most visible finance lawyer with a wide-ranging expertise in project finance and responsive work style.’

‘Renata Jokubauskaite is extremely ambitious, organised, down-to-earth and really sound to work with.’

‘Delphine Tempe is very pleasant to work with. She is knowledgeable, always available, and does her best to serve her clients’ interests in a commonly acceptable manner.’

Key clients


TA Associates



Luther S.A.

Despite lacking the resources of some of the higher-ranked firms, Luther S.A.‘s  ‘lean and agile structure’ and its effective use of legaltech enable it to provide an effective service to borrowers and a growing lender client base on partner-led bespoke banking and capital markets matters. Benefiting from ‘vast knowledge of all banking, finance and regulatory’ matters, Bob Scharfe is at the forefront of the most significant mandates handled by the team and is appreciated for his ability to provide a ‘holistic, full-picture view on issues’.

Practice head(s):

Bob Scharfe



‘The team provides a lean and agile structure and service like a boutique/independent firm with hands-on partners. At the same time it belongs to a network/alliance with access to lawyers worldwide and thus has all advantages of big firms.’

‘Bob Scharfe has an incredibly vast knowledge of all banking, finance, regulatory and corporate matters. He is also a very good listener which allows him to always have a holistic, full-picture view on issues and to always provide a correspondingly precise advice. But above all he’s an incredibly friendly and humble guy.’

Key clients


Altice/Next Alt S.à.r.l

Altamir SCA

NAS Invest


Aviva Investors Global Services Limited


AIB Group (UK) P.L.C.

AM Alpha

LD Education

Serb Group/Stark International


Banor Capital Limited

Work highlights

  • Advising on the offer to take Altice Europe private on the €2.5bn buyout and namely advising Next Alt S.à.r.l, a company wholly owned by Patrick Drahi, the founder and majority shareholder of Altice Europe, a leading European cable, telecommunications and entertainment company, on the overall structuring and corporate and financing aspects of its agreement with Altice Europe of an all cash offer valuing the company at €4.9bn.
  • Advising Altamir on the financing aspects of its acquisition of all the shares of THOM Group’s holding company, together with the management team and new shareholders for approx  €514m.
  • Advising NAS Invest on the financing and corporate aspects of the sale of the high rise tower SPREETURM in Berlin to Ampega Real Estate GmbH.


Appreciated by borrowers and lenders for its ability to provide ‘pragmatic and commercially-oriented’ advice, which draws from expertise out of Luxembourg and its Cayman Islands office, offshore heavyweight Ogier is best-known for its funds finance offering. The ‘excellentJad Nader  has strong ties with US stakeholders, many of which were established during his recent tenure heading his previous firm NautaDutilh’s Luxembourg desk. Daniel Richards co-heads the team with Nader.

Practice head(s):

Daniel Richards; Jad Nader


‘Ogier’s finance team in Luxembourg is easy to deal with. We work regularly with them in funds finance. They know what they’re doing, they give advice when needed but above all they get it done.’

‘The Ogier Luxembourg team has strength-in-depth.’

‘The team is pragmatic and good at getting the commercial result needed, applying and using the law rather than tripping over the law as we’ve found others in the market to do.’

‘They are always available and responsive and are able to explain the reasons for inclusion of provisions in documents to non-Luxembourg lawyers and clients.’

Work highlights

  • Acting as Luxembourg and Cayman legal counsel to a Canadian global bank in connection with a subscription finance facility granted to Blackrock in order to invest capital at scale in the rapidly transforming climate infrastructure sector.
  • Advised a US-based multinational financial services company on a subscription finance facility granted to the Blackstone group of funds.
  • Acting for European wind power operator in relation to the acquisition financing of two Luxembourg companies.

Simmons & Simmons in Luxembourg

Continuing to derive a considerable pipeline of work from other international offices of the firm, but increasingly generating its own workflow, Simmons & Simmons in Luxembourg advises lenders and borrowers across a range of fund, real estate and securitisation-related matters. Louis-Maël Cogis heads the team and takes the lead on much of the most significant transactional work, while Cathrine Foldberg Møller is a useful resource to insurance/financial institution clients on regulatory matters.

Practice head(s):

Louis-Maël Cogis


Other key lawyers:

Cathrine Foldberg Møller

Key clients

Deutsche Bank

Morgan Stanley



Natwest Markets


ING Bank

Valor Real Estate Partners

Savills Investment

ING Bank

Work highlights

  • Provided comprehensive legal advice to ING on the origination of the first green multi-currency credit facility to the HECF, of company Hines.
  • Advising an international bank on the restructuring of its global cross-border mortgage lending business.
  • Assisting a German crowdfunding platform with the issuance of token-based bonds by their Luxembourg special purpose vehicle.


Praised for its ‘in-depth knowledge and forward-thinking spirit’, the small team at AKD provides a ‘tailor-made service’ to clients requiring partner-led advice on bespoke finance mandates. Basile Fémelat is a ‘reliable business partner’ who excels at handling structured finance mandates, while Yann Hilpert, who has ‘excellent knowledge of the aviation industry’, has enhanced the scope of the firm’s work to include asset finance, following his arrival in February 2021 from DCL Avocats.

Practice head(s):

Basile Fémelat


‘The firm has excellent knowledge of the aviation industry and of its players. It is fully dedicated to its customers and is solutions-oriented.’

‘AKD’s lawyers are very competent and available.’

‘They are able to provide rapid feedback on various Luxembourg issues in an clear and concise manner.’

The team displays a really forward-thinking spirit and approach.’

‘It is a human size firm with a huge expertise. As customer, you feel unique. You get a tailor-made service.’

‘Yann Hilpert has expertise in aviation law and a great experience that makes him a key partner for companies who face business law matters in Luxembourg.’

‘Basile Fémelat has been a valued counsel for us in Luxembourg for a number of years. He understands the nature of our business and the matters that are likely to be important to us as lenders in the market.’

‘Jasper Verhoog is responsive and provides clear advice.’

Key clients

Jeronimo Martins, SGPS

Packhelp S.A.



International Finance Corporation

KfW IPEX-Bank GmbH


DRC Capital LLP

Pictet Group


Esprit Europe GmbH


Reference Financial Services S.A.

Work highlights

  • Advising KKR Credit Advisors (US) LLC with respect to its divestment in bonds listed on the Luxembourg Stock Exchange and the consequences from a regulatory and disclosure perspective.
  • Assisted WindShareFund with the drafting and issuance of €25m Luxembourg law-governed bonds.
  • Advised Pictet Group in relation to the acquisition of a real estate building located in Paris, acquired together for 90% by Pictet Group and 10% by a Belgian entity.

Dupont Partners

Spearheaded by the ‘very knowledgeablePeter-Jan Bossuyt, the ‘flexible, multilingual and client-centred’ team at Dupont Partners provides a partner-led service across a wide range of financing matters, including as it relates to funds and real estate transactions.

Practice head(s):

Peter-Jan Bossuyt



‘It is a boutique law firm that can compete easily with the big firms. It is flexible, multilingual and client-centred.’

‘Available, creative thinking, matching legal framework with client business goals. Challenging business goals. Solutions minded.’

‘Small, partner led team with a hands-on approach, good availability and an eye on timelines to get things done when needed.’

‘Very pro-active, hands-on and agile service at very reasonable rates.’

‘Peter-Jan Bossuyt is very knowledgeable and has an excellent team to support him.’

Key clients

Hamburg Commercial Bank

EPH European Property Holdings

Hogan Lovells (Luxembourg) LLP

Lauded for its ‘excellent market and legal knowledge’, and also able to leverage significant resources across the firm’s wider European network, Hogan Lovells (Luxembourg) LLP is perhaps best-known for its cross-border real estate finance expertise. In this regard, Pierre Reuter is particularly well regarded and regularly advises funds and lenders on work relating to German commercial property assets.

Practice head(s):

Ariane Mehrshahi Marks


‘Excellent market and legal knowledge of the team.’

Key clients



Intermediate Capital Group

Garbe Industrial Real Etate

Deutsche Pfandbriefbank

CPI Property Group

Volkswagen (Volkswagen Bank and Volkswagen Leasing)




Work highlights

  • Advised Intermediate Capital Group plc on the cross-border financing of the office complex “Energy II” located in Berlin-Moabit.
  • Advised ContourGlobal on two high yield issuances for a combined total of €710m.
  • Advised AccorInvest on its existing debt of €4.5bn and has secured additional financing, in the form of debt and equity.

Norton Rose Fulbright

Led by Stéphane Braun, and aided by lawyers from across its substantial international network of offices, Norton Rose Fulbright regularly advises borrowers and lenders on multi-jurisdictional matters, including capital markets work, real estate and structured finance.

Practice head(s):

Stéphane Braun


Key clients


Agri Resources Group

AG2R La Mondiale


Bank of America

Bank of China, Luxembourg Branch

Bank of Montreal

Banque Havilland

Bayerische Landesbank

BNP Paribas

BOS Wealth Management Europe S.A.

Bourbon Maritime SAS


Cardif Lux Vie S.A.


China Construction Bank


Crédit Agricole

Daimler AG

Deutsche Bank

East West United Bank

European Investment Bank

Goldman Sachs




JB Asset Management Corp

JP Morgan Chase



LFIS Capital Partners

Makios Logistics

National Bank of Canada

National Bank of Greece S.A.

Northern Trust Global Services SE



Royal Bank of Canada

Royal Bank of Scotland

Société Générale / SGBT

Standard Club Group

The SCP Group

Toronto Dominion


Warburg Pincus

Work highlights

  • Advised Agri Resources Group on the €50m issuance of sustainability bonds traded on the unregulated market of the Frankfurt Stock Exchange.
  • Advised the Makios family in connection with the sale of part of their stake in Makios Logistics, a family business operating in the integrated logistics services sector, to H.I.G. Capital.
  • Advised LFIS Capital Partners in connection with a borrowing from a reputable Luxembourg bank through the group’s Luxembourg holding structure.


Headed by Fabien Debroise, Ashurst’s two-partner team handles work on its own, as well as frequently in conjunction with lawyers from the firm’s London and German offices, for a lender-focused client base engaged in fund financing work.

Practice head(s):

Fabien Debroise


Key clients



Intermediate Capital Group

Investec Bank plc

BNP Paribas

NatWest Markets plc

National Australia Bank Limited

The Royal Bank of Scotland International Limited

Dexia Crédit Local S.A.

Australia and New Zealand Banking Group Limited

Well Fargo Bank, N.A.

Work highlights

  • Advised a syndicate of lenders including BNP Paribas and Skandinaviska Enskilda Banken (SEB) in backing EQT’s €2.3 (up to €5bn) ESG-linked Subscription Credit Facility (SCF).
  • Advised Société Générale, Sucursal en España as mandated lead arranger, bookrunner, coordinating bank, agent and security agent in relation to a €110m facility granted to LCN Capital Partners to fund a sale and lease back transaction with Mercadona (a Spanish chain of supermarkets).
  • Advised Société Générale S.A. Frankfurt Branch as mandated lead arranger on the financing of a sale and lease back of a real estate logistics portfolio located in Germany and France.

Brucher Thieltgen & Partners

Drawing from a ‘wide range of technical expertise’, Brucher Thieltgen & Partners provides ‘pragmatic advice’ to banks across a range of transactional and regulatory work. Nicolas Thieltgen leads the team.

Practice head(s):

Nicolas Thieltgen


Other key lawyers:

Anne-Marie Ka; Brice Hellinckx


‘The team is pragmatic, has a wide range of technical expertise and are always very precise in their answers.’

Dechert Luxembourg

At Dechert Luxembourg, Laura Rossi is the main contact and is particularly active in the real estate finance space, where she regularly works alongside colleagues from the firm’s Paris office. Jean-Louis Frognet co-heads the overarching team alongside Marc Seimetz, and has particular market visibility in relation to securitisation matters.

Other key lawyers:

Laura Rossi; David De Pasquale

Key clients

AGC Equity Partners


Cheyne Capital Management

Crédit Agricole CIB

Crédit Agricole CIB, SCOR Investment Partners, BRED, Socfim and Caisse d’Epargne Ile-de-France


SCOR Investment Partners

ING Bank N.V.

Work highlights

  • Advised a group of banks, led by Crédit Agricole CIB as co-ordinator/arranger, in connection with the financing of the acquisition and refurbishment of an emblematic real estate complex in the Opera district of Paris, by RedTreeCapital, a French real estate investment fund.
  • Advised Natixis, La Banque Postale and Le Crédit Lyonnais on the financing to facilitate the acquisition of 19 portfolio assets located in France, as part of a broader acquisition by Batipartand Covéa of a portfolio of 42 retail assets sold by Adeo and located in France, Spain, Italy and Portugal.
  • Advised ING Bank in connection with the financing of the acquisition of 11 logistics platforms, located in the Paris region and near other major French regional cities.

Linari Law Firm

Led by the ‘brilliantVincent Linari-Pierron, Linari Law Firm is best-known for its expertise advising on complex securitisation matters, where it ‘always finds solutions even in the most complex scenarios’.


‘Brilliant minds, open minded and always available  – they know the industry and help the clients to navigate through regulations.’

‘The team is extremely hands-on, responsive and always finding solutions even in the most complex scenarios for the client.’

Work highlights

  • Advising a Luxembourg unregulated securitisation company on the establishment of a €1bn limited recourse note programme to be listed on the Euro MTF market operated by the Luxembourg Stock Exchange.
  • Advising an unregulated Luxembourg securitisation on design and implementation of a €1bn bonds issuance programme. The proceeds from the issue of the bonds by the client will be used to provide loan facilities to technological and innovative companies active in the business of extraction of raw materials from industrial and household waste in Germany.
  • Assisted a Greek credit institution, in relation to an amendment of an English law governed loan facility agreement entered into with a Luxembourg parent company of one of the largest Greek health care groups.

Maples and Calder (Luxembourg) SARL

Picking up work directly from clients as well as in the context of law firm referrals, offshore law firm big-hitter Maples and Calder (Luxembourg) SARL  has a particularly strong reputation advising borrowers on fund financing mandates. Arnaud Arrecgros is ’responsive and knowledgeable in the sector’. 

Practice head(s):

Arnaud Arrecgros



‘Team with excellent capabilities, swift response, command of the Luxembourgish law and courts, as well as all connected jurisdictions.’

‘Arnaud Arrecgros should be singled out for his stamina, in depth knowledge and coordination abilities.’

‘Arnaud Arrecgros and Johan Terblanche are always available to answer any of my questions. They always pick up the phone when I need to talk with them.’

‘Very responsive.’

‘Arnaud Arrecgros is responsive and knowledgeable in the sector.’

‘The team are responsive and helpful, and do not seem to have the same delayed response and availability problems that we find in some other Lux firms. The whole team is friendly, and all seem to know what needs doing without being told – we (as the main transitional firm on matters) do not need to micromanage them’

‘Arnaud Arrecgros is really user friendly, absolutely knows his stuff inside out, he is good at brainstorming bespoke solutions and is seemingly always available and willing to go the extra mile.’

‘The team is very responsive and always willing to give pragmatic commercial advice, which both we and our clients really appreciate.’

‘Arnaud Arrecgros is excellent – really responsive, both in terms of his advice and responding on potential new work. He is now my ‘go-to’ Luxembourg counsel.’

Key clients

BCP Securities, LLC

Credit Suisse (Securities) LLC

Jefferies Group LLC

Work highlights

  • Advised BCP Securities, LLC, Credit Suisse (Securities) LLC and Jefferies Group LLC on the setting up of a securitisation fund under the form of a fiduciary estate in Luxembourg, for the purpose of the issuance of senior secured fixed rate notes to finance the acquisition from NuevaElektra del Milenio de C.V
  • Advised an ad-hoc group of lenders in connection with a refinancing of Celsa “Huta Ostrowiec” Sp. Z o.o, a steel company based in Poland, which involved the amendment and restatement of an English law facility agreement and the setting up of a security package over assets of the group located in Luxembourg and in Poland.

MOLITOR Avocats à la Cour SARL

MOLITOR Avocats à la Cour SARL provides ‘high-quality advice’ to financial services clients engaged in litigation, as well as transactional work. The ‘very talented’ Chan Park ‘knows what international clients need and delivers accordingly – he has an excellent knowledge of the Benelux market’.

Practice head(s):

Michel Molitor; Armel Waisse



‘Molitor delivers high-quality advice.’

‘Chan Park is a talented lawyer who has been trained in international firms. He knows what international clients need and delivers accordingly: high quality; on time; with excellent communication. Chan is also easy to deal with and has an excellent knowledge of the Benelux market having worked in Belgium and Luxembourg for a Benelux firm before.’


The ‘small but motivated and dedicated’ team at VANDENBULKE has established a strong reputation among lenders and borrowers for its ability to provide ‘very commercial and cost-effective’ advice across the spectrum of secured and unsecured commercial lending mandates. Benefiting from vast experience, both in-house and in private practice, team head Denis Vandenbulke is regularly at the forefront of the most significant deals handled, including in the context of cross-border real estate finance transactions involving Luxembourg entities.

Practice head(s):

Denis Van Den Bulke

Other key lawyers:

Edouard Musch


The team is extremely responsive, very commercial and cost-effective.’

It is a small but motivated and dedicated team.’

I find this team is always a pleasure to work with, they are very responsive, always available, very commercial and have invested time and effort in getting to know us.