Luxembourg is the largest investment fund centre in Europe and the second largest in the world after the United States, internationally recognized for its modern legal and regulatory framework designed to foster business development.
Most of the transactions we advise on in Europe include elements of Luxembourg law, due to the prevalence of Luxembourg holding company structures. We have gained a comprehensive understanding of Luxembourg’s legal, regulatory and economic environment.
We assist clients investing in Luxembourg as well as Luxembourg-based clients on their ambitions to expand internationally, enabling their investing and cross-border transactional activities. Clients look to us for guidance to solve problems, evaluate new opportunities, comply with complex regulations and implement essential business strategies. Our clients include major corporations, leading financial institutions and alternative investment players (private equity, real estate, etc.) as well as privately held companies.
Our Luxembourg practice advises on a broad range of areas of expertise, with a particular focus on private equity, mergers and acquisitions, banking and finance, capital markets, restructuring, tax, corporate litigation and EU financial service regulations.
AWARDS & RECOGNITION
Ranked #2 for Inbound M&A in Luxembourg by deal value in 2019 (Bloomberg M&A League Table)
Ranked #2 for Outbound M&A by deal value in 2019 (Thomson One)
Ranked #3 for Private Equity in Luxembourg by deal volume in 2019 (Bloomberg PE League Table)
Best Green/SRI Finance Law Firm
Globally recognized practice: International Private Clients
Chambers Global, 2018-2019
Cabot Group, 2019
We advised Cabot Credit Management Limited on the issuance of €400 million aggregate principal amount of Senior Secured Floating Rate Notes due 2024 by Cabot Financial (Luxembourg) II S.A. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, and listed on the Luxembourg Stock Exchange.
We advised E.ON SE on the issuance of Green Bonds with an aggregate principal amount of €1.5 billion. The notes were admitted to trading on the regulated market of the Luxembourg Stock Exchange. E.ON SE will use the net proceeds of the issuance exclusively for Qualified Green Projects as defined in its Green Bond Framework.
We advised the bank syndicate on the refinancing of Befesa S.A.'s credit facilities. Befesa, headquartered in Luxembourg, is a leading international provider of regulated environmental services to the steel and aluminium industries. The total financing of €636 million includes a €526 million term loan B cov-lite facility with a term of seven years, a €75 million revolving credit facility and a €35 million guarantee facility.
Consolidated Energy Finance, 2018
We advised Consolidated Energy Finance S.A., a financing subsidiary of Switzerland-based leading international methanol and fertilizer manufacturer Consolidated Energy Limited AG, on a new US$825 million credit facility. We also advised Consolidated Energy Finance S.A., on the issuance of two high yield bonds with a total volume of US$525 million, both listed on the Luxembourg Stock Exchange.
CVC Capital Partners, 2018
We advised CVC Capital Partners on the financing and M&A aspects of the acquisition of 51.8 percent of publicly listed Recordati SpA (through FIMEI SpA, the family holding company) and subsequent tender, Italy's largest-ever LBO. The debt financing included an innovative dual-tranche €1.3 billion high yield bond issuance by Luxembourg company Rossini Srl.
Goldman Sachs Private Capital Investment, 2018
We advised Goldman Sachs Private Capital Investments on its investment in OutSystems, global leader in low-code rapid application development. Goldman Sachs Private Capital Investments together with KKR, has invested US$360 million in OutSystems. The funding values the company at more than US$1 billion and the proceeds will be used to accelerate its business expansion and for R&D in new advancements in software automation.
Oaktree Capital Management, 2017
We advised Oaktree Capital Management, acting through its investment vehicles OCM Luxembourg ECS S.à r.l. as arranger and ECS Finaria S.à.r.l. as underwriter, on the English and Italian law aspects of the private placement of notes purchased by them and issued by Finaria S.p.A.
Belfius Bank, 2017
We advised Belfius Bank SA, Crédit Agricole CIB, Deutsche Bank AG, Morgan Stanley and Société Générale CIB, as joint lead managers, on the issuance by Belfius Bank of €750 million Fixed Rate Senior Non-Preferred Notes, the first issuance by a Belgian credit institution of senior non-preferred notes under the new Belgian legal framework. The bonds were admitted to trading on the Luxembourg Stock Exchange.
Minerva Luxembourg, 2016
We represented Minerva Luxembourg SA on the issuance of the company's 6.500% senior notes due 2026 in an aggregate principal amount of US$1 billion in a Rule 144A/Regulation S offering and a concurrent tender offer and consent solicitation for the company's existing 7.75% notes due 2023. This transaction was named “Deals of the Year 2016” by LatinFinance magazine.
SGG Group, 2016
We advised Cobepa and Kanelium Invest SA on Cobepa's transfer of SGG Group to Astorg Partners. Established in Luxembourg, SGG Group is a leading independent trust service provider. Astorg has taken control of SGG through its subsidiary in Luxembourg, Saphilux S.a.r.l., replacing Cobepa which had been a majority shareholder in SGG since 2010 through its Luxembourg holding Kanelium Invest SA.