Banking and finance: Borrower side in Netherlands

De Brauw Blackstone Westbroek distinguishes itself in complex and strategically significant borrower-side finance transactions, with its team’s expertise being seen in matters involving project finance, leveraged and acquisition finance, as well as big-ticket refinancings, among other matters. Clients of the firm include highly leveraged corporates, state-owned enterprises and private equity sponsors. In a recent highlight, Menno Stoffer and Bas Boutellier advised Boels Topholding on the €1bn financing associated with its public offer on the shares in Cramo Plc. Debt restructuring expert Ferdinand Hengst is another name to note, as is Niek Biegman.

Clifford Chance‘s team comprises of Dutch and English-qualified lawyers, making it a strong draw among domestic and international corporates, as well as private equity firms. Led by managing partner Titus de Vries, the group handles a full range of transactions for clients, such as those involving leveraged finance, corporate lending, syndicated finance, project finance, real estate finance, bond/loan financing and infrastructure finance. Its transactional capabilities are complemented by the firm’s strengths in financial regulatory matters. In 2020, Folko de Vries assisted IK Investment Partners with financing its acquisition of GeoDynamics. The team also includes England-qualified partner Angela McEwan and Jelle Hofland.

Houthoff‘s team covers a broad cross-section of transactions for borrower clients, including those relating to real estate developments and investments,  as well as financings and refinancings of large infrastructure investments. In 2020, André de Neve acted for Urban Industrial on a sale and leaseback transaction with PostNL, which included the financing of the acquisition of the mail sorting centres. Elsewhere, illustrative of the firm’s broad work portfolio, Jessica Terpstra (who divides time between London and Amsterdam) recently advised L. Catterton on the Dutch financing aspects of its acquisition of Birkenstock. Loet Venrooy heads up the practice.

In addition to acting for clients on a standalone basis, NautaDutilh‘s group in the Netherlands works with the Dutch finance team in the New York office, which is led by Elizabeth van Schilfgaarde . The firm also regularly works with international law firms on cross-border finance transactions. Arjan Pors leads the team in the Netherlands, which acts for listed companies and private entities, as well as Dutch and foreign sponsors. It has notable strengths in real estate finance and project finance transactions, and is also seen as a first port of call in acquisition finance and corporate lending matters. Elsewhere, Erik Geerling is a ship finance expert. Another name to note is David Viëtor, who was one of the advisers to Advent and Cinven on the financing of the acquisition of Thyssenkrupp’s elevator business in 2020.

Stibbe has a highly active borrower-side practice, with it advising clients on transactions involving acquisition finance, syndicated lending, real estate finance, project finance and debt refinancing, among other areas. In a key development, the firm made a significant investment in its banking and finance offering by hiring Marieke Driessen and senior associate Niek Groenendijk from Simmons & Simmons in January 2021. Driessen, who is dual-qualified to practise English and Dutch law, co-heads the team with Maarten de Bruin and Rein van Helden. Reflective of the firm’s strength in cross-border mandates, recent highlights included van Helden and senior associate Barbra Bulsing assisting Adevinta with the finance aspects of its $9.2bn acquisition of eBay Classifieds Group.

Equally strong in domestic and multijurisdictional financing deals, CMS is well-known as a major player in the real estate finance arena. In one recent highlight, Eduard Scheenstra and Jenny Noordermeer were among the advisers to Supermarkt Fonds Nederland (managed by Annexum) on the acquisition and financing of a retail/commercial building in Sneek, the Netherlands. Elsewhere, the team has a wealth of expertise in other types of finance transactions, such as those involving leveraged finance, acquisition finance and project finance. Financial restructurings are also a driver of work. Marc van Zanten heads up the Dutch banking and finance practice, which is noted for its focus on the financial institutions, renewable energy, and hotels and leisure industries, in addition to being active in the real estate space.

Led by Marcel Janssen, Dentons‘ team has had a notable uptick in real estate finance work and it has also been active in matters connected with sustainable/ESG investing.  Elsewhere, the firm has a stand out reputation in the project finance arena and it generates a strong flow of export, trade and commodity finance transactions. Recent highlights included Janssen advising Nestr Smart Finance on a €3bn platform created by Citi and Dutch Mortgage Services that will enable wealthy customers to invest in Dutch residential property. In addition, Janssen, Jacqueline Bell and counsel Jack Schrijver assisted Savills Investments with closing the financing of its Geminus real estate portfolio.

DLA Piper has a strong track record advising corporate borrowers and private equity sponsors on complex transactions that often involve a combination of different types of finance. The team is led by Lex Oosterling, who has particular expertise in financings where corporate financing is combined with an asset-based financing element. In 2020, he worked with Adam Abou Habaga to advise Royal A-ware Food Group on a €330m ESG-linked asset-based and corporate financing provided by Rabobank, ING Bank, ABN AMRO Bank and KBC Bank. Also notable is that Oosterling co-heads the real estate finance practice with Stephanie Menz. Max Mayer is another key individual in the group, whose many other areas of strength include leveraged/acquisition finance, renewables finance, project finance and non-performing loans.

Charles Destrée heads up the banking and finance practice at Lexence, which combines transactional and regulatory expertise to handle a myriad of issues for borrower clients. On the transactional side, Destrée (who is experienced in both domestic and cross-border finance transactions) has a notable focus on real estate finance. Elsewhere, the team is sought after for advice on leveraged and corporate lending transactions. Bas Zandvliet is another key individual.

Loyens & Loeff's banking and finance team provides specialist advice to borrowers on a wide range of transactions, under the leadership of Willem Jarigsma, who is a partner in the London and Amsterdam offices. The team in the Netherlands includes Kim Koops, who leads the real estate finance practice, and transportation finance head Ehsan Shirzadi. In addition, Gianluca Kreuze spearheads the corporate and acquisition finance offering. Elsewhere, project finance transactions are another area of activity for the group. In 2020, Koops led the advice to Highbrook Investors on financing the acquisition of a portfolio of circa 30 light industrial assets located throughout the Netherlands.

Complementing its work for lenders, Van Doorne generates work from borrower-side clients such as private equity houses, real estate funds and Dutch/international investors, as well as public sector entities. One of the names to note at the firm is Stefan van Rossum, whose expertise includes leveraged finance, project finance and asset-based lending. He co-heads the practice with Angelique Thiele, who specialises in real estate and development finance. In a recent highlight, Thiele led the advice to prime German real estate fund Patriza on facilities obtained from ING and other lenders for the purpose of refinancing its existing residential portfolio and an office conversion. Leveraged finance expert Roel Botter is also recommended.

Led by Jason van de Pol, the team at BarentsKrans handles domestic and cross-border transactions for corporate borrowers from sectors such as construction, food and agriculture, hotels and leisure, oil and gas and chemicals. The firm also has a particularly strong profile in the financial services sector, where it generates mandates from clients ranging in size from start-up companies to large multinationals. In a recent highlight, van de Pol led the advice to Zwanenberg Food Group on the financing aspects of its acquisition of Struik Foods Europe and its subsidiaries. The group also includes Michiel Martin.

A major development at banking and finance boutique Bond Advocaten saw Jan-Joost van Rijsbergen join the firm from Simmons & Simmons in September 2020. He works with Joannes de Bont, with both practitioners having over 40 years of experience collectively as international finance lawyers. The practice has a particular focus on real estate finance and project finance, although other drivers of activity include transactions involving acquisition finance, asset finance and syndicated loans. Borrower clients include domestic and international corporates, private equity investors and investment funds.

Heussen B.V. is particularly known for handling cross-border banking and finance transactions for foreign and multinational clients. Martijn Koot leads the team, whose transactional experience spans areas such as trade finance, structured finance and commodities finance. It recently handled matters for corporate borrowers operating in areas such as digital/technology, chemicals, mining and hospitality. The group also includes Tim Schreuders and recently promoted partner Sandy van der Schaaf.

Orange Clover Law‘s strengths in finance transactions and regulatory work make it a go-to for clients such as private and publicly-listed companies, private equity houses and investment funds. The finance team, which is led by Kees Hooft, has expertise in acquisition finance, corporate lending, trade finance, project finance and financial restructuring, among other areas. Alex Gonzalez is a financial regulatory expert. The firm has gone from strength to strength since its inception in 2014, winning both direct instructions from clients and referrals from international law firms.

Osborne Clarke generates a significant volume of mid-market finance transactions, under the leadership of practice head Axel van der Staak, with a focus on real estate finance, renewable energy finance and general corporate lending. Other workstreams include financings for leveraged buyouts and restructurings. Senior associate Peter van der Horst is another key individual in the team.

Stek has a stand out reputation in healthcare/hospital financings, and it has also seen an uptick in sustainability-related project finance transactions. Elsewhere, the firm is seen by borrower clients (including large corporates and sponsor-held portfolio companies) as a go-to for advice on acquisition and leveraged finance transactions, as well as general corporate lending. The practice is jointly led by Herman Wamelink, Maarten van der Graaf, Frans Haak and Sharon Kaufmann. Guy Pegels was promoted to counsel. Another key counsel of note is Marleen Veenstra, who is a recent arrival from ABN AMRO Bank.