Dennis Heuer | White & Case LLP International Law Firm, Global Law Practice
Dennis Heuer
Dennis Heuer

Dennis Heuer

Partner, Frankfurt

“Dennis Heuer is known for his broad knowledge and innovative work in structured finance including secured and asset-based lending and regulatory capital transactions.” (Chambers Europe 2016) Dennis Heuer is mentioned as Leading Lawyer for Structured finance and securitization. (IFLR1000, 2015).

Overview

Dennis Heuer has a national and international practice based in Frankfurt, working within the Firm's Capital Markets Practice. He has built a reputation as a leading lawyer, and often heads teams in cross-border deals, the complexity of which often calls for innovative and ground-breaking solutions.

Dennis represents a wide range of clients that include credit institutions, multinational corporates, investment banks, finance companies, financial technology (fintech) companies, institutional investors and public institutions in a wide range of banking and capital markets matters. He has particularly extensive knowledge of structured finance, securitisation, secured (asset-based) lending and capital markets transactions with banks as with solutions for banks. Dennis is a frequent speaker, author and commentator on lending, risk transfer and fintech issues.

Clients benefit from Dennis' structuring skills and his ability to find solutions even within difficult market conditions and times of regulatory uncertainty. Notable examples of this experience include helping DZ Bank to secure the largest capital increase (€1.5 billion) in its history, and supporting Nord/ LB with its first infrastructure loan capital relief deal, where a portfolio of infrastructure loans was offloaded by way of a second loss guarantee – a transaction that successfully utilized innovative financial instruments rarely used in the German market.

Dennis' achievements on behalf of clients have won him recommendations in a number of leading legal directories, including IFLR1000, JUVE, The Legal 500 EMEA and Chambers Europe and Chambers Global.

He has also represented the Firm's German offices on White & Case's Diversity Committee since 2012, and has played a key role in the development of the Firm's LGBT program in Germany.

Bars and Courts

  • Rechtsanwalt

Education

  • Dr jur, University of Bielefeld
  • LLM, University of San Diego
  • Second State Exam, Higher Regional Court of Munich
  • First State Exam, University of Passau
  • Licence en Droit, Université Panthéon-Assas, Paris II

Languages

  • German
  • English
  • French

Experience

Degussa - Regulatory Capital Transaction

Represented Degussa Bank AG as issuer on the issue of EUR 60 million in AT1-contingent convertible bonds with an annual coupon of 4.74 per cent (one of the first regulatory capital transactions in the form of AT1 instruments in Germany).EUR 60,000,000

Nord/LB - Structured Finance

Represented NORD/LB on the synthetic securitisation of a GBP 307.2 million private finance initiative and public–private partnership loan portfolio held by NordLB’s London branch. By transferring credit risk to external investors, NordLB has been able to release additional regulatory capital. GBP 307,200,000

Nord/LB - Regulatory Capital Transaction

Represented Norddeutsche Landesbank – Girozentrale on the issue of USD 500 million in subordinated bonds with a tenyear term and 6.25 per cent coupon, which satisfies the criteria for eligible capital in the form of supplementary capital (Tier 2). USD 500,000,000

Deutsche Trustee - Structured Finance

Represented Deutsche Trustee Co. Ltd. as security agent and trustee on the early repayment and refinancing of Deutsche Annington’s CMBS securitisation German Residential Asset Note Distributor P.L.C. (GRAND). The transaction was the largest of its kind, with the refinancing of the residential real estate portfolio accounting for around EUR 2.3 billion. EUR 2,300,000,000

Deutsche Trustee - Structured Finance

Represented Deutsche Trustee Company Ltd. - involving our Frankfurt, London and Singapore offices - in its capacity as security agent in a CMBS issuance by GAGFAH. The purpose of the transaction, completed via German Residential Funding 2013-1 Ltd., was to refinance a large credit facility in the amount of approximately EUR 2.1 billion. EUR 2,100,000,000

Deutsche Bank Group - Structured Finance

Represented Deutsche Bank in its function as Intercreditor Agent and Principal Paying Agent and Registrar, Deutsche Bank Luxembourg as Schuldschein Agent, and Deutsche Trustee Company Limited as Security Agent in connection with the structured refinancing of offshore windpark Meerwind. EUR 1,000,000,000

DZ Bank - Regulatory Capital Transaction

Represented DZ Bank on its EUR 1.5 billion capital increase. All 186.9 million new shares have been placed with shareholders at a subscription price of EUR 7.90 per share and, as a result of the capital increase, DZ Bank’s Tier 1 ratio has increased significantly.EUR 1,500,000,000

Erste Group - Structured Finance

Represented Erste Group Bank AG as arranger and structuring agent on the issue of fixed-rate bonds through a Luxembourg securitisation vehicle, the proceeds of which were used to finance the purchase of several microfinance loans to international microfinance credit institutions. EUR 50,000,000

HETA

Represented HSH Nordbank, NordLB, Berlin Hyp and Deutsche Pfandbriefbank in legal action against HETA Asset Management AG in courts in Germany. EUR 218,000,000

HSH Nordbank

Represented HSH Nordbank AG on its USD 360 million refinancing. The 'CASTELLUM ABF' funding transaction was collateralised by a portfolio of commercial real estate loans secured by mortgages governed by English law. It was HSH Nordbank’s third US-dollar refinancing since it established its own assetbased funding platform in 2013. USD 360,000,000

U.S. Bank

Represented U.S. Bank Global Corporate Trust Services on a  securitisation of auto loans of Opel Bank. EUR 450,000,000

Société Générale

Represented a syndicate of global financial institutions in connection with the financing of the German A7 Autobahn (highway) project for a Hochtief consortium through project financing and project bonds under the EIB initiative for project bonds. Amount confidential

States of Hamburg and Schleswig-Holstein

Represented the states of Hamburg and Schleswig-Holstein, Germany, on the risk shield by way of a synthetic securitisation for HSH Nordbank AG in the amount of EUR 10 billion. EUR 10,000,000,000

WGZ Bank

Represented WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank, Düsseldorf, on the issue of a subordinated convertible bond. The instrument had a volume of up to EUR 160,723,500, a term of seven years and a coupon of five per cent. The issue volume is qualified as attributable own funds in the form of supplementary capital (Tier 2). EUR 128,000,000

Publications

  • Too big to fail – no more: The new European resolution framework for banks: the corporate perspective, Business Law Magazine, Issue 2, Pages 18-21, 2016, (co- author with Staurt Willey and Andreas Wieland)
  • On the way to a European Capital Markets Union, Zeitschrift für Bank- und Kapitalmarktrecht, pp. 45-50, February 2016, (Auf dem Weg zu einer europäischen Kapitalmarktunion) (co-author)
  • Debt Funds as alternative to transfer credit risk, Zeitschrift für das gesamte Kreditwesen, Issue 18, pp. 910–915, 2013, (Kreditfonds als Alternative zum Transfer von Kreditrisiken) (co-author)
  • Intervention in the rights of creditors under the German Restructuring Act and the European Framework for Bank Recovery and Resolution, Zeitschrift für das gesamte Kreditwesen, Issue 14, pp. 720–722, 2011, (Eingriffe in Rechte von Gläubigern nach deutschem und europäischem Bankenrestrukturierungsrecht) (co-author)
  • Securitization of residual value risks of leasing companies, FLF, January 2007, (Verbriefung von Restwertrisiken bei Leasing-Unternehmen) (co-author)

Awards & Recognition

Leading Lawyer, IFLR1000, 2015

Structured finance and Securitisation

Highly Recommended Lawyer, JUVE, 2015/2016

Structured Finance

Knows what clients want and gets to the heart of matters, The Legal 500, Germany, 2016

Highly recommended lawyer, Chambers Europe 2015 and Chambers Global 2016, Germany

Capital Markets: Structured Finance