References

In addition to early transactions in Asia (container terminals) and Germany (car loan receivables), the team has worked on the vast majority of the leading securitisations in Denmark and the Nordics include the PROVIDE RMBS securitisations for Danske Bank as well as the first ever Danish covered bond transaction under the new legislation. In addition, the team acted for Santander Bank on the first securitisation of Danish car loans. In total, Ian and his team worked on transaction involving more than EUR 300 billion worth of securitisations.  This expertise within securitisation led to the team amabeing instructed to advise the Danish Business Ministry on the new Danish securitisation law and capital markets law which implemented the first legislative securitisation register and adoption of aspects of a trustee relationship into Danish law.

We have worked on all types of structured finance products such as regulatory capital instruments for Danish financial institutions including a unique structured hybrid capital instrument used by a consortium of institutional investors and a private equity fund as a means of financing the acquisition of a major regulated institution.  In addition, we assisted both originators and investors in relation to other structured products such as structured leasing arrangements, CLOs and CDOs as well as structured financing products of oil and gas receivables and cash flow receivables related to renewables energy sources. During the financial crisis, Ian acted for the Danish Government in the drafting and implementation of the financial rescue package of over DKK 47 billion based on the injection of hybrid capital into Danish banks.

We have acted on DCM transactions for some of Denmark’s largest listed companies including DSV AS on their Eurobond transactions and EMTN programmes. Included within the broad array of clients on the regulated institution side of DCM are Danske Bank, Nordea and Jyske Realkredit (formerly BRF Realkredit)

Ian has worked on a considerable number of debt and acquisition financings in relation to listed companies with transactions such as DSV AS acquisition of UTI as well as the subsequent acquisition of Penalpina.  In addition, he has worked on a number of acquisition financings for private equity led consortiums of companies such as Danmarks Skibskredit (Danish Ship Finance) which involved the acquisition of the interests of the majority of the shareholders by a consortium led by the private equity fund, Axcel as well the leading Danish pension funds, PFA and PKA.

In more recent times, we have focused on the growing importance of sustainability both in terms of the public focus on this important area but also in terms of regulatory obligations imposed by new legislation, board and senior management responsibility for corporate actions (including the failure to take appropriate due diligence) and the legal concerns created in respect of “greenwashing” claims for both companies and asset managers. Our regulatory teams have worked closely with the regulatory authorities to ensure alignment with the spirit and intention of the legislation as well as with boards and senior management. In addition, we continue to be committed to further academic on the area and have published a number of academic articles in highly regarded journals on ESG ratings, ESG data and a soon to be published on potential civil liability for greenwashing. We have also published a number of materials on Article 8 and Article 9 funds and the implications of the double materiality assessment.