IFLR 1000
The Guide to the World's Leading Financial Law Firms

	Allen & Overy Clifford Chance De Brauw Blackstone Westbroek
	Freshfields Bruckhaus Deringer Linklaters NautaDutilh Stibbe
	Loyens & Loeff
	Baker & McKenzie CMS Derks Star Busmann Houthoff Buruma Simmons & Simmons
	AKD Boekel De Nerée Van Doorne

The Dutch capital markets are in quite a shaky position even though some partners contend that the "economy in the Netherlands has picked up quickly, following the trend in Germany rather than the UK or elsewhere".

Market volatility has taken a heavy toll on the equity markets. "In a normal year we expect about six domestic IPOs," says a local partner, but over the past 12 months there have been no large IPOs, with the NYSE Euronext Amsterdam seeing more delistings than listings. According to one partner it is a "market collapse, many deals have been pulled or postponed".

"We were working on a number of IPOs but they were all aborted or postponed due to pricing and volatility... in one week we saw five Dutch listings being pulled in London," says a partner. Another adds that "2010 and 2011 both started well, but in 2011 two IPOs have been already pulled, everybody is awaiting events, deals are waiting to be done when market improves; the volatility is too high and IPOs have a long deal time".

Equity activity has been largely transaction-driven although there were a number of Dutch listings on foreign exchanges, for example Nielsen (which first had to delist in Amsterdam), NHV, Delta Lloyd, InterXion, Aperam, Nord Gold (postponed) and NXP Semiconductors. "It is not a given that Dutch firms will list in Amsterdam," says a partner, who adds: "there is now a project underway with the goal of promoting Amsterdam as a platform for listings on the Euronext with a number of the leading firms and banks involved, but it is not going very well."

Things have been a bit better in the debt markets. "Volatility is affecting this as well, but the debt capital markets deals are quicker and easier than equity deals so there are windows," says one partner.

Firms have handled a number of Rule 144A/Reg S compliant bonds, which are "popular with investors" say lawyers, high-yield bonds and a good number of securitisation programmes. The market has also seen new state guaranteed issuances.

Though there have been some convertible bonds, one partner says they "lost appeal due to volatility, and what this says is that people are still nervous and a bit conservative about the market". Corporates and FIGs have instead been opting for the more conservative corporate bonds or alternative high-yield bonds. In order to avoid taking on risk, one partner says banks have been "loaning through securitisation techniques", so that "corporates go to the debt markets and investors have the exposure rather than banks".

The Netherlands is the second biggest securitisation market in Europe and this sector (90% mortgage related) has been "surprisingly strong" with "Dutch and UK securitisations leading the rebound" says a partner. SNS Bank, Rabobank, Westland Utrecht and Delta Lloyd have all been active in the area. The reason is that they are seen favourably in light of the Basel III capital requirements: "You don't get a good investor base, but they are good because of regulations and deleveraging in Basel III," says a partner.

A&O has a strong team across the debt and equity markets and in securitisations. "The best UK firm in Amsterdam," says a client, while one peer concedes that the firm has "taken the covered bonds market".... [more]

A&O has a strong team across the debt and equity markets and in securitisations. "The best UK firm in Amsterdam," says a client, while one peer concedes that the firm has "taken the covered bonds market". All four leading lawyers are "very visible" according peers. Aside from very subjective criticisms, for example one former client finding the approach "too pushy", the A&O team has a stellar reputation.

Niels van de Vijver completed a series of transactions in April 2011, advising ABN AMRO on an exchange offer on €1.2 billion of subordinated floating rate notes and floating rate callable notes and a $600 million notes issue under the bank's MTN programme.

Tim Stevens led a team to assist TNT on a €4.8 billion demerger to form TNT Post and TNT Express and subsequently list TNT Express, marking the first spin off of a Euronext Amsterdam listed company in years. Stevens was also retained by TNT to advise on derivatives matters.

One of the highlight transactions in the market saw Gerard Kastelein advise Delta Lloyd on a €700 million RMBS securitisation while, using a 'Chinese wall', a separate team led by De Vijver acted for the deal's lead managers, which included Rabobank and RBS. Kastelein handled further securitisation transactions for Westland Utrecht Bank on two RMBS securitisations (Green Lion I and Green Lion II) for just under €400 million.

In July 2010, Jennifer de Lange represented RBS on its €5.2 billion Achmea covered Eurobond standby total return swap facility. The facility is rare in the market and sets precedence for other such facilities.

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Clifford Chance has a good reputation for its debt and securitisations practice primarily, although it also has a strong equity team. Comparing it to rivals, one client says the firm has "better knowledge.... [more]

Clifford Chance has a good reputation for its debt and securitisations practice primarily, although it also has a strong equity team. Comparing it to rivals, one client says the firm has "better knowledge... understands the very important disclosure rules and sensibilities in companies" and is "more pragmatic in using its external network to retrieve knowledge".

Aside from the leading lawyers, counsels Robert Masman and Jurgen van de Meer are recommended by clients. "Van de Meer is a very dedicated lawyer with great knowledge and pragmatism, a good negotiator and reliable," says a client. Another client was "very pleased by their performance" when the pair showed "magnificent knowledge". The firm "don't just give you the advice, they helped us in implementing it as well," says the client.

Through 2010-2011, the firm advised on Rule 144A/Reg S issues and compliant programmes, won numerous mandates as underwriter's counsel in the equity markets, and closed various RMBS and asset-backed and on covered bonds deals.

Tineke Kothe led a team to advise Morgan Stanley, Citigroup and Rabobank as joint lead managers for an issue by Dutch electricity grid operator Alliander on €500 million fixed to floating rate perpetual capital securities (2010), while Frank Graaf helped Toyota Motor Finance get regulatory clearance for the collaterisation of their OTC derivatives trade.

Gregory Crookes advised domestic issuer Nielsen Holdings on its fully underwritten IPO on the NYSE, involving a $1.64 billion share offering with a mandatory $250 million 6.25% convertible bond issuance, which was oversubscribed. In the third largest capital raisin in 2010, M&A and equity partner Hans Beerlage advised RBS and MeesPierson as joint bookrunners on €185 million issuance of new shares by Imtech.

In securitisations, Pieter van Welzen advised Rabobank as arranger on its €50 billion RMBS transaction, the largest RMBS done in the Netherlands in 2010, and ING Bank on its €9 billion Orange Lion RMBS.

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De Brauw acts for the majority of Dutch blue-chip companies; it has a leading M&A practice and, say partners, easily one of the best equity teams. The profile of its debt and securitisations practice is lower than in equity, however the firm has a strong record on bond issuances and MTN programmes.... [more]

De Brauw acts for the majority of Dutch blue-chip companies; it has a leading M&A practice and, say partners, easily one of the best equity teams. The profile of its debt and securitisations practice is lower than in equity, however the firm has a strong record on bond issuances and MTN programmes. "They are missing the international link so they have to hook up with US firms, but it does Jumbo issuances for KLM and others and is great at it," says a peer.

One client says the firm was "very effective for time keeping" and "knows what has to be done". "We very much appreciate them," says another, adding that "they can be quite conservative, but in a way this is a good thing." Clients also find the firm's London office useful.

Jan Willem Hoevers advised one of De Brauw's big clients, Royal BAM Group, on its €249 million rights issue underwritten by ING Bank, Rabobank and RBS and also acted on share buy-back programmes of €1 billion each for ASML Holding and Royal KPM. Partner Joos Schutte has a good market reputation and was recently retained by NXP Semiconductors on its IPO on the Nasdaq, raising $476 million. It was one of the very few Dutch IPOs.

Jan Marten van Dijk advised Imtech on a €185 million equity offering through an accelerated book building process to finance an acquisition.

On the debt side, Schutte assisted a Dutch housing corporation establish a €5 billion debt programme for government-backed bonds and Niek Biegman helped TenneT on its €500 million issue of subordinated hybrid notes, establishing a €5 billion EMTN programme and issuing €2 billion of senior notes.

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NautaDutilh handles the largest volume of securitisations in the market and is an undoubted leader in this field. "In structured finance they're very strong: SPVs, SPACS, fund listings, high-yield as local counsel," says a peer.... [more]

NautaDutilh handles the largest volume of securitisations in the market and is an undoubted leader in this field. "In structured finance they're very strong: SPVs, SPACS, fund listings, high-yield as local counsel," says a peer. The firm also wins mandates for considerable debt and equity transactions.

According to one cross-border debt client "they have a high level of legal knowledge and are always easy to reach and available to discuss questions". The client recommends Petra Zijp and London-based Arjan Pors for their "great knowledge and always finding a constructive way of getting along". Another client warns that there is "some mixed ability so it depends on who you work with," but highly recommends Michaëla Ulrici and Arjan Scheltema, who is "practical and understands the requirements".

In debt, Walter Schellekens advised the Dutch financial subsidiary of Kazakh oil and gas company Zhaikmunai on its $450 million secured notes offering, marking the first senior bond issue from Kazakhstan, and Zijp acted for NDG (Bank Nederlandse Gemeenten) on an update to and series of issues under its €80 billion debt programme. Notably, the deal included on of the first Rule 144A/Reg S compliant issuance for a Dutch party.

The firm also advised on two structured covered bond programmes while in securitisations assisted ABN AMRO on a UK master trust structured €100 billion Dolphin programme for prime mortgage loans and a €25 billion Goldfish programme for NHG followed with a €500 million issuance. It also acted for NIBC on a Pearl Mortgage Backed Securities 4 for SNS Bank.

In equity, Schellekens led a team in May 2010 advising Eureko and Polish insurance company PZU on the Polish government's listing of €2 billion of PZU shares on the Warsaw Stock Exchange; the largest IPO at the time in Europe since 2007.

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The Dutch office of Freshfields is most often seen as "up and coming". It had a very strong year acting for financial institutions, especially on securitisations and derivatives transactions, and is currently involved in potential IPOs.... [more]

The Dutch office of Freshfields is most often seen as "up and coming". It had a very strong year acting for financial institutions, especially on securitisations and derivatives transactions, and is currently involved in potential IPOs. Thijs Flokstra, Robert ten Have, Robert Norbrius and up-and-coming London trained senior associate Mandeep Lotay (for securitisations and derivatives) lead the firm.

According to one client the firm was "very good in different capacities; Lotay especially has [...] a great combination of UK knowledge and legal approach: the local expertise plus the thoroughness of a UK firm". Clients argue that in international transactions international firms have the edge on "investor procedure and investor disclosure". Another says "they were extremely professional, they know the documentation and are very quick at reacting but also [have] ideas on the way things can go commercially".

In equity, Ten Have advised on one pulled IPO, acting for Nord Gold (part of Severstal) on its announced listing in London, and represented RBS as global coordinator in a $100 million rights issue by Dockwise. On the debt side, Wouter Jongen worked with the London office to advise ABN AMRO on a $25 billion MTN programme directed at the 144A market in the US, while Annemarie den Tex worked with the Madrid office to help Gas Natural SDG establish a €10 billion EMTN programme.

The firm's outright strength is in the securitisation and derivatives market, where it handled about 16 Dutch RMBS transactions in 2010. Among them, Flokstra and Lotay acted for Rabobank and others as arrangers on ABN AMRO's €500 million RMBS under its Dolphin Master programme. For Deutsche Bank London (often with other global finance houses), the firm advised on the launch of a €695 million RMBS by Achmea and a €2.9 billion RMBS (HERMES XV) by SNS Bank.

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Linklaters has a very strong practice especially for debt and international deals. The firm, under Pim Horsten, advises all the leading banks and handles all manner of covered bonds, corporate bonds, convertible bonds and high-yield bonds.... [more]

Linklaters has a very strong practice especially for debt and international deals. The firm, under Pim Horsten, advises all the leading banks and handles all manner of covered bonds, corporate bonds, convertible bonds and high-yield bonds.

While some competitors say the office "gets a lot from its network and does a very good job", others believe it is too reliant on the network: "The Dutch team don't run deals, it is all done from the UK." Nevertheless, the Dutch team gets strong feedback. "Good people; qualified people," says one client.

One client says: "[Kees] Westermann moved [from Clifford Chance to Linklaters] and our business shifted there, we use him a lot for MTN issues and we are very enthusiastic about him." Peter Voorhees is recommended as "swift, clear, punctual; I think he is very good and really able to step into our shoes and think with us", while Alexander Harmse is praised as "well plugged in, always available for questions and can give detailed answers or fast answers with the key points as you wish".

Pim Horsten advised Rabobank as arranger and other banks, including ABN AMRO, Barclays and BNP Paribas, as dealers on the €4 billion Delta Lloyd debt programmes with a debut issue of €575 million of notes due in 2017. It was the first Solvency II compliant programme in the market.

Horsten also worked with the London office to advise Credit Suisse Securities, Merrill Lynch and Morgan Stanley among others as joint lead managers and bookrunners on Rabobank's a $2 billion contingent capital bonds, marking the first hybrid bonds issue counted as Tier 1 capital.

Elsewhere, Voorhees led a team to advise ING Bank on its $3.25 billion debt issue sold globally on a Rule 144A/Reg S basis. In equity, Harmse advised long-standing client InterXion Holding on its $265 million IPO on the NYSE in February 2011.

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Stibbe moves up a tier this year. It is “right at the top for equity capital markets” says one competitor while others says Stibbe has “an outstanding equity capital markets practice, especially on the issuer side” and “a very good team for equity”.... [more]

Stibbe moves up a tier this year. It is “right at the top for equity capital markets” says one competitor while others says Stibbe has “an outstanding equity capital markets practice, especially on the issuer side” and “a very good team for equity”. Derk Lemstra has the strongest market reputation but other practitioners are often recommended by commentators, among them equity lawyer Heleen Kersten and on the debt side Jaap Willeumier.

Although largely an M&A transaction, arguably the firm’s biggest role saw it advise NYSE Euronext Amsterdam (it has advised Euronext since its inception) on its combination with Deutsche Börse. The ongoing deal has an extensive capital markets component and due to the parties involved does much for the firm’s capital markets profile. Willeumier and team were handling the Dutch aspects working alongside Wachtell Lipton Rosen & Katz (on US law) and Milbank Tweed Hadley & McCloy (in Germany).

Lemstra almost secured the first healthcare IPO in Amsterdam since the start of crisis in 2008 advising Agendia, however was postponed in May 2010. With Rogier Raas, Lemstra had more luck, this time advising Morgan Stanley, Deutsche Bank Securities and Goldman Sachs as underwriters on the IPO of the Russian online search engine Yandex. Yandex listed on Nasdaq in May 2011 for $1.3 billion.

The deal above reflects the firm’s strong underwriter practice, which also saw Lemstra advise Morgan Stanley, Deutsche Bank and JPMorgan as underwriters on the equity issue through an accelerated book-build offering by Aegon. The deal raised €2.25 billion in February 2011 and will help Aegon refund securities provided by the Dutch state.

The firm won large equity mandates from NXP Semiconductors and Tornier but two debt deals are worth mentioning. In one, Gerhardt Vels, Hans Witteveen and Lemstra acted for Ziggo on a €1.2 billion senior unsecured notes issue due May 2018 and a placement of €750 million senior secured notes due 2017. In the second deal, Willeumier advised Enel on a Rule 144A/Reg S € 25 billion Global MTN programme listed on the Irish Stock Exchange.
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Baker & McKenzie is seemingly developing a good profile in the Dutch market and had done well amongst London bankers looking for structured finance and securitisations deals. The firm also seems to have a particular strength on cross-border deals, leveraging off its emerging markets network and clients in Central and Eastern EuropePeers like the firm: "They have a number of strong partners who do a very good job," says one peer.... [more]

Baker & McKenzie is seemingly developing a good profile in the Dutch market and had done well amongst London bankers looking for structured finance and securitisations deals. The firm also seems to have a particular strength on cross-border deals, leveraging off its emerging markets network and clients in Central and Eastern Europe

Peers like the firm: "They have a number of strong partners who do a very good job," says one peer.

According to a client, the firm is "very good technically, but not just technical, they are also very responsive, get on quickly with the business side of what you want to achieve and are very commercial". Another client recommends Philippe Steffens, who has a strong reputation in London circles.

The firm increased its capacity in September 2010 with the recruitment of RBS head of structured solutions Marco van Bladel and in March 2011, the hire of finance partner Corinne Schot (plus associates) from Houthoff Buruma, who brought with her clients including Lehman Brothers Securities.

With network support, Steffens advised global cleaning services company ISS on a €500 million trade receivables securitisation transaction and Steffens helped NIBC Bank, one of the firm's regular and most active clients, on a €75 million German lease and factoring receivables financing deal for Vantargis. He also advised Metinvest on a $1 billion MTN programme and a first issuance of $750 million.

Schot continued to assist Lehman Brothers Securities on its derivatives and certificate programme while Van Cappellen acted for Unicredit Bank in Milkiland's €53 million IPO on the Warsaw stock exchange, and Fortuna's dual IPO of €220 million on the Warsaw and Prague exchanges with concurrent listings in Slovakia and the Czech Republic.

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Houthoff Buruma is less visible in the capital markets than some of its competitors but it does have a strong capacity for equity transactions, often M&A related, and straight bond issuances. The most often mentioned capital markets lawyer of the firm is partner Matthijs van den Broek.... [more]

Houthoff Buruma is less visible in the capital markets than some of its competitors but it does have a strong capacity for equity transactions, often M&A related, and straight bond issuances. The most often mentioned capital markets lawyer of the firm is partner Matthijs van den Broek.

In highlight deal examples, the firm advised Accsys Technologies on a €30 million equity offering and was retained for the company's potential listing on the London AIM and Euronext Amsterdam. It also advised Man RMF Investments on the offering of shares in sub-fund Man Dynamic Diversified to the public.

In a third notable deal it represented insurance company Bovemij Verzekeringsgroep on a €60 million equity raising. The firm has considerable exposure to equity capital markets work through M&A transactions.

The debt side is handled by the firm's banking practice and in one deal, London-based partner Jessica Terpstra advised JP Morgan on a $605 million notes issue by Bumble Bee Group in December 2010 and NYSE listed Silgro Food Group in relation to a $150 million private placement of notes. Banking partner Loet Venrooy also advised NASDAQ listed Global Crossing on a $750 million note programme in November 2010.

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The fiercely independent Loyens & Loeff is widely recommended as one of the top firms for structured finance and securitisations, most notably with Mariëtte van't Westeinde, who one peer says is "very experienced and very good". The team is led by Nelleke Krol in Amsterdam and Peter Corten in London.... [more]

The fiercely independent Loyens & Loeff is widely recommended as one of the top firms for structured finance and securitisations, most notably with Mariëtte van't Westeinde, who one peer says is "very experienced and very good".

The team is led by Nelleke Krol in Amsterdam and Peter Corten in London.

"What I liked about them was that the partner was directly involved and cooperative in terms of working with you and looking for a solution," says one satisfied client, "it has a smaller team than NautaDutilh or Allen & Overy... but you know who you are working with and there is more certainty, and they were good on timings". Another client says the firm is "a purely Dutch based firm so they can't do US deals but for Dutch RMBS they do very well and are good value for money".

With Krol, Corten and Kitty Lieverse at the helm the firm acted on a number of deals which show good versatility. It advised LBI Netherlands on a rights issue (led by Krol), IFCO Systems on a secondary offering on the Frankfurt Stock Exchange, and Russian entity Euroset Holding on an aborted IPO on the LSE. An additional interesting deal saw them act for Brack Capital on its IPO on the Tel Aviv stock exchange, which included documentation in Hebrew.

Krol, with her associate protégé Martijn Schoonewille, advised the underwriters on Nielsen Holdings' IPO on the NYSE with one of the few convertible bond issues. The team also advised Owens-Illinois Group, Phoenix PIB Finance and Coca-Cola HBC Finance on issuances of senior, senior unsecured and fixed rate notes for €500 million, €506 million and €300 million respectively.

L&L was very active in securitisations, with Westeinde advising Aegeon on Saecure 7, 8 and 9 RMBS totalling over €3 billion and Obvion as originator of STORM I, II, III and IV RMBS totalling €4 billion.

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Simmons & Simmons' finance team is reputedly strongest in structured finance, specifically securities and derivatives, but last year it also handled a wide range of equity work predominantly for underwriters but also for issuers.Looking at its deals the firm has won good clients amongst hedge funds and it counts as its clients Kempen & Co and Petercam, as well as some biotech and real estate companies.... [more]

Simmons & Simmons' finance team is reputedly strongest in structured finance, specifically securities and derivatives, but last year it also handled a wide range of equity work predominantly for underwriters but also for issuers.

Looking at its deals the firm has won good clients amongst hedge funds and it counts as its clients Kempen & Co and Petercam, as well as some biotech and real estate companies. The firm advises a number of Italian and Spanish European banks.

On the debt side, Daphne Brinkhuis recently advised Banca IMI for an update on Dunia Capital's €5 billion debt programme and on matters relating to alternative investments. Brinkhuis also acted for Banco Bilbao Vizcaya Argentaria on updates on CID Finance's €5 billion programme and on an issuance of $23 million in floating rate secured limited recourse notes due in 2011 by Boiro Finance. Other debt clients included Caja Mediterráneo and UBS.

On the equity side, led by Michiel Wurfbain, the firm advised Kempen & Co and Petercam Bank on the €12 million equity offering by Euronext Amsterdam listed biotech company Pharming Group. Wurfbain advised Amsterdam Molecular Therapeutics on its €14.3 million capital raising exercise and US traded funds operator Rafferty Asset Management on the listing of its exchange traded funds platform Direxion Shares on the Amsterdam Euronext.

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Capital markets is not the particular strength of AKD however it did clock in at least one good deal last year working as local counsel. In January 2011 the firm, led by Vincent Bettonville, acted as Dutch counsel to Jones Day for Exide Technology on an issuance of senior secured notes.... [more]

Capital markets is not the particular strength of AKD however it did clock in at least one good deal last year working as local counsel. In January 2011 the firm, led by Vincent Bettonville, acted as Dutch counsel to Jones Day for Exide Technology on an issuance of senior secured notes. The notes totalled €675 million and are due in 2018. [hide]

Although competitors comment that Boekel de Nerée is not very visible in the capital markets, client are keen on the firm in a local counsel role on international capital markets deals, debt and capital markets. It also has a strong practice advising underwriters.... [more]

Although competitors comment that Boekel de Nerée is not very visible in the capital markets, client are keen on the firm in a local counsel role on international capital markets deals, debt and capital markets. It also has a strong practice advising underwriters.

"Obviously strong competencies in all sorts of areas, do a good job of staffing properly and from a service and performance perspective all good and the people we deal with are strong players," says a client. The service perspective is key and the firm recently opened an office in London which will up its profile for international transactions. Senior partner Ferdinand Mason and associate Casper Haket are both highly recommended.

In addition the firm has made some moves to boost its presence and in October and December 2010 recruited partners Arjen Mulderije and Cars-Jan van Gool from local competitors. Ferdinand Mason is the firm's key lawyer and he led on all its biggest mandates.

Among the big deals, Mason, supported by Joel Erwteman, was engaged by Weil Gotshal & Manges to act as local counsel on Photon Energy's potential IPO on the Warsaw Stock Exchange. The pair also won a mandate from Computershare, the global securities manager, on the listing of LyondellBasell on the New York Stock Exchange. Mason, Erwteman and Hans Sachse were engaged by US firm Latham & Watkins to advise on the local aspects of Siemens Enterprise Communications' €200 million bond issue.

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CMS Derks Star Busmann has a slightly lower capital markets presence in the market according to peers but last year it showed good presence in the mid-market. One of the reasons for this stake in mi-markets deals is the firm's strong German clientele, as demonstrated by its deal list.... [more]

CMS Derks Star Busmann has a slightly lower capital markets presence in the market according to peers but last year it showed good presence in the mid-market. One of the reasons for this stake in mi-markets deals is the firm's strong German clientele, as demonstrated by its deal list.

Reinout Slot and Mark Ziekman lead on the firm's markets deals.

In on-going matters the team were advising Batenburg Beheer as it researched the possibility of a public share offer. The firm also closed a number of deals, including Sino International Logistic Company's shares listing on the open market of the Frankfurt Stock Exchange and a German bank on matters relating to the custody of shares in a Dutch listed company.

The firm also has a healthy practice acting as local counsel predominantly on equity transactions.

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Van Doorne is one of the top firms on the local counsel circuit. The team, led by Harm Uittien on the equity side, Roel Botter on the debt side, and Stefan van Rossum, who works on both sides, advised through 2010 and 2011 on some very notable deals although most often acting as local counsel.... [more]

Van Doorne is one of the top firms on the local counsel circuit. The team, led by Harm Uittien on the equity side, Roel Botter on the debt side, and Stefan van Rossum, who works on both sides, advised through 2010 and 2011 on some very notable deals although most often acting as local counsel.

On the equity side, the firm won a mandate on one of the biggest deals in the first quarter of 2011 when Uittien advised holding companies of Eric Winter and Olav Berten, shareholders of Nederlandse Interim Groep (NIG), in relation to the sale of NIG to DPA Group. The sale involved payment to the client shareholders in shares of the new company by way of a private placement of €28-40 million.

The firm also acted on one of the few listings in the market for InterXion Holding, where Van Rossum advised the underwriters, which included Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets, Barclays Capital, Jefferies & Company and Credit Suisse Securities among many others, to InterXion's $308 million listing on the NYSE. The firm acted as local counsel alongside Shearman & Sterling.

Among the most high profile debt deals the firm handled saw Botter advise regular client OAO Lukoil on its issue of $1 billion in notes and subsequent $1.5 billion in convertible notes, both completed by December 2010. Botter acted as local counsel on the deal supporting global firm Akin Gump.

A final deal saw Botter support Latham & Watkins on DTEK's on its issuance of $500 million 9.5% notes due in 2015.

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