Veit Sahlfeld | White & Case LLP International Law Firm, Global Law Practice
 Veit Sahlfeld
 Veit Sahlfeld

Veit Sahlfeld

Local Partner, Hamburg

T +49 40 35005 0

E vsahlfeld@whitecase.com

Overview

Veit's principal area of law is bank finance. He advises banks, financial institutions, investors and corporates on national and cross-border finance transactions, as well as on matters of corporate law related therewith.

He brings commercial and legal insight to the structuring of complex, multi–sourced acquisition, asset and project finance transactions, as well as related corporate and capital market solutions. He advises on project bonds and credit enhancements from the EIB under its project bonds initiative.

Veit has extensive experience in the areas of energy, infrastructure and real estate. He advises clients also in the field of structured finance and securitization.

Veit has been a member of the Hamburg office of White & Case since 2007.

Bars and Courts

  • Rechtsanwalt

Education

  • MBA, University of Wales
  • Second State Exam, Higher Regional Court of Celle
  • First State Exam, Christian-Albrechts-University Kiel

Languages

  • German
  • English

Experience

Deutsche Bank on Financing of Seven UK Solar Parks, 2015

Advised Deutsche Bank on the interim construction financing of a portfolio of seven solar parks in South West England and Wales, which were subsequently successfully refinanced by way of a project bond. Following their completion, the solar parks were sold to SDAX-listed Capital Stage AG, with the corresponding interim construction finance being replaced by long term funding via project bonds in the form of senior secured notes. The sole subscriber of the bonds is the British asset manager Legal & General Investment Management on behalf of institutional investors.

First Project Bond Financing with EIB Credit Enhancements in Germany for Major A7 PPP Project, 2014

Advised the joint lead arrangers, lenders and institutional investors on the financing of the extension and operation of the A7 federal highway between Hamburg and Bordesholm. The largest PPP project ever launched in Germany, with construction costs of approximately €600 million, it was awarded by the federal state to the consortium of Hochtief, institutional investor Dutch Infrastructure Fund (DIF) and construction company Kemna. This was the first PPP project in the German market to be financed by project bonds with EIB project bond credit enhancements and Bank Bridge financing. It was also the first combined bank–bond financing in Europe using the EIB project bond credit enhancement. The transaction was named "2014 European Project Bond Deal of the Year" by IJGlobal; "2014 European Road Deal of the Year" by Project Finance International magazine and also won the Financial Times' FT Innovative Lawyers 2015 award in the finance category.

Hotel acquisitions by Fattal Hotels Group and international investors, 2013

Advised a consortium consisting of the Israeli hotel chain Fattal Hotels Group and other international investors on the acquisition of 20 hotels in Germany. The joint venture involved the acquisition of 15 Holiday Inn hotels, 4 Best Western hotels and 1 Queens hotel from Queens Moat Houses Ltd. This was the largest hotel property transaction in Germany in recent years. Veit advised the client on the mulit-source financing of the acquisition.

EP Energy refinancing, 2013

Advising a consortium of eleven banks led by UniCredit, in connection with a EUR 1 billion financing of EP Energy, a.s. (EPE), subsidiary of Energeticky a prumyslovy holding, a.s., and the largest Czech private energy group with activities in Czech Republic, Slovakia, Germany and Poland; this was the first part passu bank/bond deal in the Czech Republic.

Butendiek offshore wind farm, 2013

Represented wpd group as project developer and shareholder in the €937 million financing for the 288 MW Butendiek offshore wind farm in the German North Sea. The wpd group is part of an investor group consisting of Marguerite Fund, Siemens Project Ventures, Industriens Pension and PKA. Valued at approximately €1.3 billion, this project was financed with €937 million in loans from a consortium led by KfW IPEX-Bank, UniCredit and Bremer Landesbank, and which also included the European Investment Bank, the Danish export credit insurance company EKF and nine commercial banks. The transaction was selected as "2013 European Power Deal of the Year" by Project Finance International magazine and as "2013 European Offshore Wind Deal of the Year" by Project Finance magazine.

Publications

  • Can one avoid real estate transfer tax being imposed twice on the acquisition of real estate by real estate special funds? (Vermeidung der doppelten Grunderwerbsteuer beim Grunderwerb durch Immobilien-Spezial-Sondervermögen), ImmoStR, Issue 2, pp. 62–65, 2011, (co-author with Christian Pedak)