Leading Associates

Firms To Watch: Banking, finance and capital markets

Banking, finance and capital markets in Belgium

Dentons

Dentons‘ banking and finance practice was bolstered in February 2025 by the addition of asset-based and project finance expert Tom Geudens, who joined from Lydian.

Highlight-Mandate


Willkie Farr & Gallagher LLP

Willkie Farr & Gallagher LLP built out its Brussels finance practice with the arrival of Willem Van de Wiele from White & Case LLP. Van de Wiele brings a deep track record in finance and debt capital markets transactions.

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A&O Shearman

A&O Shearman offers notable borrower- and lender-side expertise in corporate lending, debt restructuring, real estate finance and leveraged finance matters. Practice head Yves Van Pul is relied upon by a host of financial institutions, private credit funds and corporations for his significant expertise in syndicated loans, debt restructuring and project finance, particularly within the renewable energy sector. On the capital markets front, Axel de Backer is well-regarded for depth of experience in sustainability-linked finance, equity-linked bonds, corporate bonds and regulatory capital management. Filip Tanghe possesses particular proficiency in financial services regulation, multi-jurisdictional trade financing and securitisation. Julie Vander Donckt supports on real estate and regulated sector finance.

Praxisleiter:

Yves Van Pul


Weitere Kernanwälte:

Filip Tanghe; Axel de Backer; Julie Vander Donckt


Referenzen

‘Proactive, trustworthy and able to propose practical solutions.’

‘Yves van Pul – reachable, down to earth with excellent expertise.’

‘A&O Shearman is the standard for banking and finance work in the Belgian market. Whether they act for the lender or for the borrower, they are the standard in terms of quality of service provided.‘

Kernmandanten

D’Ieteren Group


Cofinimmo


Shurgard


Goldman Sachs


J.P. Morgan


Celyad


KBC


Argenta Spaarbank


BNP Paribas Fortis


Belfius Bank


Elia


Titan Cement International SA


GIMV NV


Azelis Group


Alychlo


Smartphoto


Exmar


Roularta Media Group NV


Koinon


SVK


Home Invest Belgium NV


Immobel NV


Telenet


Liberty Global


ING


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Linklaters

Linklaters stands out for its project finance, credit restructuring and syndicated lending capabilities, with a particular focus on the energy sector. Practice head Arnaud Coibion is sought-after for his knowledge of M&A transactions, equity issuances and debt offerings by both public and private entities. David Ballegeer demonstrates a focus on sustainability-linked financing, particularly within the energy sector. Filip Lecoutre is a notable figure in IPOs and equity raises, while Anne-Sophie Vankemmelbeke is well-regarded for her strength in structured finance, securitisations and real estate financing. Tom Cobbaert, Thierry L’Homme and Evita Bassot are further key contacts.

Praxisleiter:

Arnaud Coibion


Weitere Kernanwälte:

David Ballegeer; Filip Lecoutre; Tom Cobbaert; Anne-Sophie Vankemmelbeke; Thierry L’Homme; Evita Bassot


Referenzen

‘David Ballegeer is an outstanding lawyer with a very vast experience in banking and finance matters. He really is a reference in his field and a very enjoyable person to work with.‘

‚Filip Lecoutre is a good lawyer who provides value to his clients.‘

‚Tom Cobbaert has very strong technical skills and manages his files in an excellent way. He is someone who can really be relied on.‘

Kernmandanten

Elia Group SA / Elia Transmission Belgium


Ethias SA


Solvay SA


UCB SA


Groupe Bruxelles Lambert SA/NV


Umicore NV


KBC Groep NV


KBC Securities NV


Sibelco NV/SA


Belfius Bank


Kartesia


Highlight-Mandate


  • Advised Elia Group on its €2.2bn equity raise.
  • Advised Solvay SA on €1.5bn dual tranche bond issuance listed on the Euro MTF market of the Luxembourg Stock Exchange.
  • Advised a syndicate of underwriters on TINC NV’s €113m rights issue.

Baker McKenzie BV/SRL

Baker McKenzie BV/SRL pairs banking and corporate finance expertise, demonstrating particular strength in acquisition finance, syndicated lending and real estate finance, as well as in IPOs, equity-linked transactions and private fund structuring. Michael Van Acker, who leads the banking and finance team, is experienced in leveraged finance, real estate finance and financial restructurings. Joren Jansseune is an expert in structured finance and securitisation. The corporate finance offering, headed up by Roel Meers, has a notable emphasis on the biotech and life sciences sectors. Koen Vanhaerents is experienced in both public takeovers and IPOs.

Praxisleiter:

Michael Van Acker; Roel Meers


Weitere Kernanwälte:

Joren Jansseune; Koen Vanhaerents


Referenzen

‘Very hands-on, professional, reactive and top-quality advice.‘

‚Out of the box thinking and solutions whenever required, a team you want to have at your side in any negotiation to be at ease and have your back.’

‘The team combines all the qualities one expects from a law firm: strong legal expertise, availability, creativity, pragmatism, discretion and innovation.‘

Kernmandanten

Adient


Alcentra


Agristo


Alexander Peter Wealth Management


American Express


Apheon


Arab Banking Corporation S.C.A.


Assuralia


Atos


Baloise Belgium NV


Bank Degroof Petercam


Bank Hapoalim


Belfius Bank NV


Berenberg


BNP Paribas Fortis NV


Caisse d’Epargne Hauts de France


Capricorn Partners NV


Clearstream


Cobelfret


Creafin NV


Credendo


Equilis Europe


Ergon Capital


Febelfin


Fidelity


Fortino Capital Partners


Galapagos


GIMV


HSBC Continental Europe


ING België NV


Ingram Micro


JP Morgan


KBC Bank NV


KBC Securities


Keppel Fund Management Limited


Lombard International Assurance


Mastercard


MDxHealth


Mollie B.V.


Natixis


N26 Bank


Orange


Pensioenfonds Metaal OFP


Pierre Marcolini


PMV Fund Management NV


Rabobank


Revive Fund Management NV


Sequana Medical


Sonian Holdings NV


Telenet


Toyota Financial Services


Traxys


Value Square NV


Van Lanschot Kempen


Highlight-Mandate


  • Advised BNP Paribas Fortis SA/NV as documentation agent and a club of lenders on the refinancing of an existing revolving facility of SD Worx by way of a new revolving and term loan facility.
  • Advised a club of lenders with ING as coordinator and sustainability coordinator on the refinancing of a sustainability linked revolving facility for bpost.
  • Advised TINC, on its €113.2m public offering with preferential subscription rights for the existing shareholders, and the admission of the new shares to trading on Euronext Brussels by way of the new Annex IX exemption process.

Clifford Chance

Clifford Chance covers the full transactional breadth of banking and capital markets mandates. Led by Lounia Czupper, the banking and finance team advise on complex cross-border acquisition finance, sovereign debt restructuring and structured finance mandates, with notable sectoral expertise in the energy, life sciences, and infrastructure sectors. Wim Aerts is recommended for his project finance expertise. The capital markets offering, headed by Niek De Pauw, regularly handles IPOs, secondary offerings and sovereign market issuances.

Praxisleiter:

Lounia Czupper; Niek De Pauw


Weitere Kernanwälte:

Wim Aerts


Referenzen

‘Lounia Czupper and her team have a very good knowledge of banking law, practices and regulators.‘

‘Lounia Czupper is very knowledgeable, calm and nice to work with. She understands the issues and can put them in perspective to deliver pragmatic advice.‘

‘Niek De Pauw is very experienced and has the most common sense in the business – good judgement – solutions oriented.‘

Kernmandanten

Publi-T


Azelis


Bank of America Securities


Syensqo


Deutsche Bank


Citibank


Royal Bank of Canada


Société Générale


JP Morgan


KBC Bank


ING Bank


Belfius


BNPPF


ABN AMRO


Proximus


HSBC Continental Europe


Elia Transmission Belgium


Tour des Finances


EQT


Ares Capital


Ekopak


Shurgard


EIB


Highlight-Mandate


  • Advised JP Morgan as Global Coordinator and the other Joint Bookrunners with Bpost’s €1bn dual-tranche senior unsecured bond.
  • Advised Azelis on its €1.7bn bond and loan refinancing.
  • Advised Citibank, Royal Bank of Canada and Société Generale in relation to Blackstone Real Estate’s acquisition of an 80% stake in a c. €1bn pan-European logistics portfolio owned by the Johannesburg-listed Burstone Group.

DLA Piper

DLA Piper handles the full spectrum of debt financing transactions, with notable expertise in complex project finance mandates in the energy and infrastructure sector. The team acts for a broad roster of domestic and international banks, investment funds and financial institutions. Practice head Caroline Hoste specialises in public-private partnerships related to road infrastructure and energy projects. Pierre Berger handles a range of regulatory, debt restructuring and fund structuring work. Orestis Omran has developed a strong practice in the Greek market, demonstrating particular strength in financial regulatory matters.

Praxisleiter:

Caroline Hoste; Pierre Berger


Weitere Kernanwälte:

Orestis Omran; Sander Buysse


Referenzen

‘Caroline Hoste manages the team towards a pragmatic, solution oriented practice.‘

‘DLA Piper’s banking and finance team combines deep technical expertise with a pragmatic, solution-oriented approach. They are very responsive, commercial in their advice, and handle complex matters with clarity and efficiency.’

‘I’ve worked most closely with Sander Buysse, and I’ve always been impressed. He is clear, reliable, and very pragmatic in his advice. He quickly gets to the heart of an issue and is a real pleasure to work with.’

Kernmandanten

ING Belgium


Belfius Bank


Willemen Groep


National Bank of Greece


Piraeus Bank


Alpha Bank


Eurobank


Jan De Nul NV


Stadsbader Invest NV


ArcelorMittal


BESIX Group NV/SA


BNP Paribas Fortis NV/SA


KBC Bank NV


Concord Music Royalties, LLC


Corum SCPI


Equans NV


Fasanara Capital Limited


GLP PF UK Management Limited


I4B


School Invest NV


SD Worx


Tifosy Capital Advisory


Tikehau Investment Management


Weerts Group


WorxInvest NV


Etablissementen Frateur-De Pourcq NV


Taveirne Algemene Ondernemingen NV


HSBC UK Bank PLC


Optima bank S.A.


Qualco Intelligent Finance


Intrum Hellas


Highlight-Mandate


  • Advising a consortium including Jan De Nul NV in connection with the €1.25bn redevelopment PPP project of DBFM “RO Noord Zone Zaventem”, procured by de Werkvennootschap.
  • Advising JPMorgan Chase’s Office for Legal Obligations on regulatory mapping and obligation drafting across EU and Belgian legislation.
  • Advised Optima bank on the establishment of a €500m Euro Medium Term Note Programme and inaugural issuance of €150m Tier 2 Reset Notes due 2035 thereunder.

Eubelius

Eubelius specialises in advising on borrower-side mandates, particularly concerning real estate and project finance. Led by the quartet of Lars Van Bever, Joris De Wolf, Thomas Donnez, and Matthias Wauters, the team acts for notable clients in the domestic real estate market and also demonstrates expertise in debt capital issuances for US-based clients. Also on the capital markets front, the team covers a range of secondary issuances, including rights issues and accelerated bookbuildings. Eva Milants supports the team on capital markets mandates.

Praxisleiter:

Lars Van Bever; Joris De Wolf; Thomas Donnez; Matthias Wauters


Weitere Kernanwälte:

Eva Milants


Referenzen

‘Very professional, always reachable and a strong knowledge of the files and documents.

‘Thomas Donnez has strong knowledge, was always available for additional questions and was able to explain complex documents in an easy way.

‘Eubelius stands out for its exceptional technical expertise combined with a pragmatic and solution-oriented approach.‘

Kernmandanten

Warehouses De Pauw


Gilead Sciences, Inc


Ghelamco


Atenor


Puratos


Besix Unitec


Nextensa


Extensa Group


Indaver


Denys


Alheembouw


Kymera International


Retail Estates


Highlight-Mandate


  • Assisting Ghelamco with the redemption of bonds listed on Euronext Brussels and on the Regulated Market of the Luxembourg Stock Exchange.
  • Assisted Atenor in relation to its €45m capital increase through a Private Investment in Public Equity.
  • Assisted Gilead in Galapagos’ demerger into two listed entities.

Loyens & Loeff

Loyens & Loeff covers an array of transactional and regulatory work, including energy and infrastructure project finance, real estate finance and syndicated lending. Practice head Marc Vermylen possesses substantial experience in secured financing and asset-based lending. Vanessa Marquette is a key contact among major European financial institutions and offers expertise in cross-border finance transactions, Koen Panis focuses on energy project finance matters, and Sarah Libregts stands out for her securitisation expertise. Pieter Verheyen supports the team on project and real estate finance mandates.

Praxisleiter:

Marc Vermylen


Weitere Kernanwälte:

Vanessa Marquette; Koen Panis; Sarah Libregts; Pieter Verheyen


Referenzen

‘The team has a unique technical knowledge coupled with a great network. Their impressive track record gives us confidence when working with them.‘

‘Marc Vermylen is a cornerstone within the team. He is focused, dedicated and always provides excellent advice.’

‘Great competent team, readily available and constructive and pragmatic feedback. A lot of industry knowledge in-house.’

Kernmandanten

Wilmington Trust Limited


Accell Group


Aurelius


Banque de Luxembourg


Energy Solutions Group


European Investment Bank


Crédit industriel et commercial


Natixis


Société Générale


Alchemy Step Hotel Group


Belfius


Participatiemaatschappij Vlaanderen


Storm Management


Landesbank Hessen-Thüringen Girozentrale


AAC Capital


H.I.G. Capital, LLC


Standard Investment


Bridgepoint Credit


Stada Arzneimittel AG


Infopro Digital Group


International Swaps and Derivatives Association


Bundesverband Deutscher Banken


European Banking Federation


Clarity Capital Services NV


Jefferies LLC


EIG


Altria Group, Inc.


Stada Arzneimittel AG


Infopro Digital Group


International Swaps and Derivatives Association


Highlight-Mandate


  • Advised Energy Solutions Group on the €85m financing of Belgium’s first large-scale battery energy storage system.
  • Advised European Investment Bank on a €200m credit facility to SRIW to support SME and mid-cap financing in Wallonia.
  • Assisted a real estate company with the real estate financing of over 50 properties in Belgium by a syndicate of banks.

NautaDutilh

NautaDutilh is regularly entrusted to handle complex domestic and cross-border transactional mandates. The finance team, led by Thibaut Willems, regularly handles project finance, structured finance, acquisition finance and asset-based lending matters. The capital markets team is headed by Philippe Remels and assists on a range of debt and equity transactions. Remels and Ivan Peeters advise a host of public listed companies, financial institutions and real estate companies on bond issuances, securitisations, IPOs and accelerated bookbuilds.

Praxisleiter:

Thibaut Willems; Philippe Remels


Weitere Kernanwälte:

Ivan Peeters


Referenzen

‘Strength of the team is the thorough and dedicated intake of a file and the thorough and substantive results-oriented commitment.’

‘Ivan Peeters is an eloquent counselor.‘

‘Ivan Peeters is a very good lawyer: he knows his clients, has a very in-depth knowledge of the law/regulations and the business of the client.‘

Kernmandanten

ABN AMRO


Aedifica


AG Real Estate


Bayerische Landesbank


CWT


Deutsche Bank


ENGIE


INEOS


Invesis


Macquarie


Nyxoah


Highlight-Mandate


  • Assisted the lenders with the Belgian law aspects of Powerdot’s €165m green financing
  • Assisted a syndicate of initial purchasers in Embracer Group’s €900m financing
  • Assisted managers ABN AMRO, Belfius, LBBW, and Natixis with issuance of €1.5bn Belgian mortgage bonds

Stibbe

Stibbe is regularly entrusted to advise on high-value and complex leveraged finance, project finance as well as high-yield bond issuances and securitisations. Practice co-head Wouter Ghijsels has expertise in syndicated lending and leveraged buyouts, while fellow co-lead Pieter Nobels specialises in debt capital markets transactions, advising on both public and private bond issuances. The equity capital markets team is led by Jan Peeters, who has experience handling complex IPOs, public takeovers bids and public-to-private transactions. Pascal Vanden Borre is a further equity capital markets expert.

Praxisleiter:

Wouter Ghijsels


Weitere Kernanwälte:

Pieter Nobels; Jan Peeters; Pascal Vanden Borre


Referenzen

‘Availability and approachability.‘

‘Wouter Ghijsels is always available and willing to provide our internal legal team with the help we need.

Kernmandanten

Aedifica


AG Real Estate


Aim.group


Apollo Asset Management


Aquafin


Befimmo


Belgian Resilience Fund Management, managed by Tikehau


BNP Paribas Fortis


BNP Paribas


Brookfield Asset Management


Cibus Nordic Real Estate


European Investment Bank


JP Morgan Chase


KKR


Maguar Capital


Highlight-Mandate


  • Advised Palex Medical on the finance package for the acquisition of Duomed.
  • Assisted P. Van de Velde group on its financing and equity arrangement with Kartesia.
  • Assisted the Initial Purchasers, including Goldman Sachs Bank Europe SA, with the issuance of €400m Senior Notes by Ontex Group NV.

ARGO Law

ARGO Law handles a range of work including IPOs, bond issuances and borrower-side finance transactions for private equity funds. In the capital markets sphere, the team is particularly experienced in public takeover mandates, while the banking and finance team is skilled at handling acquisition finance and asset-backed finance matters. Nico Goossens has both transactional and contentious experience, with particular expertise in capital market issues. Pieter Bogaerts specialises in asset-backed finance transactions. Francis Wijnakker, who joined in June 2025 from Linklaters, focuses on acquisition finance mandates. The three co-head the practice.

Praxisleiter:

Nico Goossens; Pieter Bogaerts; Francis Wijnakker


Referenzen

‘Francis Wijnakker is an excellent, well-connected finance professional. Knows his domain inside out. Very responsive and pleasant to work with.’

‘Pragmatic and top-notch expertise and advice.’

‘Very customer-oriented and solutions driven, they really listen to what we want to achieve and then find the best possible way to get there.‘

Kernmandanten

CMB.TECH


CMB


Smartphoto Group


Gimv


Waterland Private Equity Investments


Bencis Capital Partners


Strada Partners


Equine Care Group


Anchr


VGP


ING Belgium


Highlight-Mandate


  • Advised CMB.Tech NV on the share-for-share merger with Golden Ocean Group Limited merging into CMB.TECH Bermuda Ltd. Additionally, advised on its financing arrangements in connection to this transaction for an amount of  $1.4bn.
  • Advised VGP NV on its issuance of €500m green bonds with Belfius, BNP Paribas, J.P. Morgan and KBC Bank acting as joint bookrunners.
  • Advised Ardo Foods on the amendment and restatement of its €430m existing bank financing.

CMS

Acting for a broad roster of domestic and international banks and financial institutions, CMS covers a range of transactional, regulatory and debt restructuring work, with notable expertise in real estate, receivables, commodities and acquisition finance. Complementing his skill in debt capital markets mandates, practice head Benoît Vandervelde demonstrates experience advising both lenders and borrowers on high-value financing arrangements. Bruno Duquesne specialises in real estate finance, while Arnaud Van Oekel is experienced in acquisition finance work.

Praxisleiter:

Benoît Vandervelde


Weitere Kernanwälte:

Bruno Duquesne; Arnaud Van Oekel; Catherine Matton


Referenzen

‘The law firm is characterised by a pragmatic approach and excellent availability.’

‘Bruno Duquesne stands out for his very thoughtful approach and his excellent ability to present complex issues in a simple way.‘

‚Catherine Matton stands out for her calm manner and her ability to keep a clear head even in stressful situations.’

Kernmandanten

Belgian Federal Region of Wallonia


ING Bank


Pricoa Private Capital


Colas


Hokodo


AG Real Estate and Atenor


Société Générale


Helaba


Deutsche Bank


Natixis Bank


Munchenerhypotheekbank


Highlight-Mandate


  • Advised the Belgian Federal Region of Wallonia with for the increase of its €25bn EMTN programme to €30bn and several benchmark issuances of Social Notes.
  • Advised Pricoa in the issuance of Senior Unsecured Serie B Notes with a 10-year bullet maturity, under “US private placement” format.
  • Advised Société Générale as lender in the €700m revolving credit facility to Proximus, arranged by BNP Paribas and KBC and ING acting as Agent.

Fieldfisher

Fieldfisher acts for private equity funds, financial institutions, real estate companies and corporates across leveraged and acquisition finance, real estate finance and project finance matters, particularly in the renewable energy and infrastructure sectors. The team is led by Sofie Heremans, who offers ‘knowledge’ and ‘experience’ across the finance and restructuring space. A further key contact is Dennis Lievens, who brings a ‘strategic and commercially-minded approach’ to project finance, PPP, and real estate finance matters.

Praxisleiter:

Sofie Heremans


Weitere Kernanwälte:

Dennis Lievens


Referenzen

‘Good service, high quality, excellent communication. A perfect recipe.’

‘Dennis Lievens is a top notch professional who communicates well and also focuses on the goal to be achieved’

‘Hands on team with specific expertise in our niche sector. Dedicated and capable of advising on highly complex transactions while ensuring smooth and quick collaboration with other project parties.’

Kernmandanten

3D Investors


Baltisse


BeeBonds


Belfius Bank


Besix Group NV


Billtrust


BNP Paribas Fortis


Creafund


Commercial Bank of Dubai


Deutsche Hypo / Norddeutsche Landesbank


Dovesco


Elewan Energy


Emera


Energy Solutions Group


Epico²


German Pfandbriefbanken Association


Gigarant


Greenpulse


ING Belgium NV/SA


Junction for Growth Capital


KBC Bank


Mezzanine Partners


Parte Group


Participatiemaatschappij Vlaanderen


pppconnect


Rebelvalley B.V.


Sereni Group


Sibelco


Sigmaroc


SOFINDEV


Swen Capital Partners


SynPet NV


Tenax European Credit Fund


TINC


Wallonie Entreprendre


Waterland


Highlight-Mandate


  • Advised Sigmaroc plc on the €875m acquisition finance for the reverse takeover of New York-listed limestone producer CRH’s European Lime Perimeter and the subsequent take out of bridge financing.
  • Advised KBC Bank NV and Belfius Bank NV, as lead counsel, on a €33m long-term project financing for PanTera, backed in part by a guarantee of Gigarant NV, for the development of a new production facility in Mol.
  • Advised KBC Bank NV (senior lender) and Wallonie Entreprendre SA (junior lender) on the €85m project financing of the development by Energy Solutions Group of a 75 Megawatt, 300 MWh battery energy storage system in Harmignies, in the Walloon region

Hogan Lovells International LLP

Hogan Lovells International LLP is highly proficient in handling transactional and regulatory work, in both the debt capital markets and finance segments. The team handles a wide range of mandates, including syndicated lending, leveraged and acquisition finance, real estate finance and bond issuances. The team is additionally skilled in advising on fund formation and structuring. Practice head Philip Van Steenwinkel is a highly sought-after transactional expert, with noted experience in asset-based lending and debt capital markets issuances.

Praxisleiter:

Philip Van Steenwinkel


Weitere Kernanwälte:

Alexander Tanguy; Charles-Henri Bernard


Referenzen

‘They are reliable, pragmatic, and commercially minded lawyers who focus on what truly matters to their clients. They are also a pleasant and constructive team to work with.’

‘In my experience, they approach matters with professionalism and a clear understanding of the commercial context.’

‘Great collaboration with Philip Van Steenwinkel and his team, who is at the same time knowledgeable and pragmatic.

Kernmandanten

Permira


Apollo


Ardian


Partners Group


ICG


KBC


Belfius


ING


BNP Paribas Fortis


Commerzbank


Goldman Sachs


Blackrock


Société Générale


DNB


Deutsche Bank


Euroclear


Angelini Ventures


Communauté française de Belgique


Axus


Leaseplan


Highlight-Mandate


  • Assisted ICG on their first two real estate financing operations in Belgium.
  • Represented Euroclear Investments in respect of its consent solicitation for its €600m Notes issuance due 2026 and the substitution of Euroclear Investments by Euroclear Holding as issuer of 3 issuances (2030, 2048 and 2051) in the context of a reorganisation of the Euroclear group structure.
  • Represented Permira, Ardian and Partners Group on the Hg-back investment structure in Induver and Clover.

Jones Day

Jones Day covers the full gamut of transactional, litigation and regulatory services in the banking and finance space, with experience acting for both domestic and international corporations, financial institutions and private equity funds. Co-headed by Ferdinand Brughmans and Michèle Grégoire, the team’s expertise includes complex leveraged and project finance transactions. Matthieu Duplat leads the capital markets offering and handles debt and equity-linked issuances as well as public takeovers.

Praxisleiter:

Ferdinand Brughmans; Matthieu Duplat; Michèle Grégoire


Referenzen

‘Jones Day has an excellent banking practice and the team around Michèle Grégoire is one of the best within the Brussels market. The practice characteristics are scientific, high-level and hard-working.’

‘Michèle Grégoire handles the matter herself with an excellent team and her analysis reflects the top quality of her team.’

‘Available to discuss with clear knowledge on subject matters. Never the bottleneck in a transaction and process.’

Kernmandanten

Belfius Bank


Belgian Debt Agency (representing the Kingdom of Belgium)


BNP Paribas Fortis


Buysse & Partners


CBC Banque


Confédération nationale du crédit mutue


Deutsche Bank


Deutschsprachige Gemeinschaft Belgiens


Euroclear


The Flemish Community


FN Browning Group


ING Belgium


Joh. Berenberg, Gossler & Co.


KGKBC Bank


Morgan Stanley & Co. International plc


Rabobank


Triodos Bank


UCB S.A


Highlight-Mandate


  • Advised Belfius Bank, ING Belgium and KBC Bank on the €100m sustainability-linked financing provided to Belgium-based D’Ieteren Immo.
  • Assisted financial institutions with the issuance of a 10-year benchmark €7bn 3.100%OLO by the Kingdom of Belgium.
  • Advising Confédération nationale du crédit mutuel on prudential requirements under European Banking Union and on supervisory powers of European Central Bank.

Liedekerke

Through its banking and finance and capital markets offerings, Liedekerke is a key contact among financial institutions, corporates, and private equity players. Banking practice head Freya Mareels leads on leveraged and corporate finance, real estate finance, and asset-based lending. Thomas Vanthournout demonstrates a strong track record in acquisition finance matters. The capital markets team, headed by Wim Dedecker, handles IPOs and secondary issues, as well as a range of debt transactions including bond issues, securitisations and accelerated bookbuilds.

Praxisleiter:

Freya Mareels; Wim Dedecker


Weitere Kernanwälte:

Roel Fransis; Thomas Vanthournout


Referenzen

‘Liedekerke offers comprehensive advice in the field of banking, finance and capital markets, offering clients both technical precision and commercially minded solutions.‘

‚They are well organised and particularly adept at handling a high volume of banking and financial market cases, as well as a full range of complex cross-border financial transactions and regulatory matters.’

‘Freya Mareels stands out for combining sharp technical expertise in banking and finance with a pragmatic, solution-oriented approach.‘

Kernmandanten

Siparex


IDI SCA


ING Belgium


Belfius Bank


BNP Paribas Fortis


Fronnt Group


Odontolia Group


Macquarie Bank Europe DAC


MUFG Bank


Balta Industries NV


Fortress Investment Group


Lloyds Bank PLC


Highlight-Mandate


  • Advises Siparex on unitranche financing provided by Eurazeo Private Debt for its investment in WVT Industries and Roam Technology.
  • Assisted IDI SCA with the €83m financing, by way of a syndicated senior facilities agreement with ING Belgium and Belfius Bank, of the acquisition of the Intersoft Electronics group from Waterland Private Equity.
  • Advised Fortress Investment Group, the reference shareholder of Celyad Oncology SA, in connection with a private placement of 3,333,333 newly issued shares by Celyad, fully subscribed by Fortress.

Van Bael & Bellis

Van Bael & Bellis is well-equipped to handle complex transactional work, with particular expertise in handling high-value project finance mandates in the energy and infrastructure sectors. The practice is headed by Johan Mouraux, who is relied upon by infrastructure sector clients for his project finance, leveraged finance and restructuring expertise. Cedric Hauben is also sought-after for his experience in project and leveraged finance mandates, particularly within the renewable energy sector.

Praxisleiter:

Johan Mouraux


Weitere Kernanwälte:

Cedric Hauben


Referenzen

‘Johan Mouraux has great business sense and therefore can quickly grasp a client’s needs or ask additional questions to understand the client’s needs.’

Kernmandanten

Altano Group


Baxter World Trade


Belgian Eco Energy


Boortmalt


Council of Europe Development Bank


ING Belgium


International Capital Market Association


I4B – The Belgian Infrastructure Fund


Jan de Nul


Luminus


SPI.R0


TriplePoint Capital


VGP


Highlight-Mandate


  • Advised SPI.R0 on all aspects related to the investment in and €360m syndicated senior financing of the DBFM-based reconstruction project relating to the Brussels Ring Road intersection near Zaventem national airport (R0 x A 201).
  • Advised I4B – The Belgian Infrastructure Fund and Luminus on senior development financing of a battery energy storage system installation to be constructed in the Walloon region.
  • Assisted Baxter as local counsel with the amendment and restatement of its ca. $2.2bn credit agreement concluded with an international banking consortium led by JP Morgan Chase.

White & Case LLP

White & Case LLP handles a range of cross-border financing arrangements, debt restructurings and financial regulatory mandates for a host of corporates, sovereigns, financial institutions and asset managers. The team has been bolstered by the arrival as practice head of Christophe Wauters, who joined from Cleary Gottlieb Steen & Hamilton. Wauters is a noted debt financing expert with experience handling sovereign debt financing, project finance and syndicated lending matters. Willem Van de Wiele left the firm in May 2025.

Praxisleiter:

Christophe Wauters


Weitere Kernanwälte:

Thierry Bosly; Carlo Meert


Kernmandanten

Apollo Global Management


BNP Paribas


BPCE Group


Cobepa


Crelan


CVI Investments


Deutsche Bank


EIB


Eurazeo


Flemish Government


Ghelamco


Goldman Sachs


IK Partners


ING


J.P. Morgan


KBC


Morgan Stanley


Société Générale


Highlight-Mandate


Ashurst LLP

Ashurst LLP is experienced in handling complex cross-border transactions, with strong expertise in acquisition finance, structured finance, debt restructuring and bankruptcy transactions. The team regularly acts for both domestic and international financial institutions. Arnaud Wtterwulghe, who leads the practice, possesses experience advising on a range of matters, including corporate lending, real estate finance, securities and derivatives. Maxime Nuyts supports the team.

Praxisleiter:

Arnaud Wtterwulghe


Weitere Kernanwälte:

Maxime Nuyts


Referenzen

‘We very much like to work with the team, and everyone, including associates and partners, are very responsive and get things done efficiently.’

‘Maxime Nuyts is a very talented associate.‘

Kernmandanten

Goldman Sachs


Citibank


Barclays


Equals Group plc


Sumitomo Mitsui Banking Corporation


HSBC


BNP Paribas


Jefferies GmbH


Natixis S.A.


NatWest


ANZ Bank


Intermediate Capital Group


Bank of America


CBOE Clear Europe N.V.


Dexia


Nomura


UBS


STIF


Highlight-Mandate


  • Advised an ad hoc group of first-lien and second-lien term lenders and third-lien note-holders to Oregon Tool, Inc. in connection with new money, maturity extension and refinancing exchange transactions.
  • Advised Bondholders‘ Steering Committee in Atos‘ financial restructuring.
  • Advised several large international banks on their secured instruments programmes and on the consistency of the terms of their issuance programmes with the Belgian Code of Economic Law and, in particular, the provisions in respect of unfair terms.

Deloitte Legal

Deloitte Legal has a broad offering covering structured, asset-based and sustainable finance, as well as bond issuances, public offerings and private placements. Laurent Godts specialises in transactional finance mandates, including syndicated lending, project finance and structured finance; Astrid Delanghe focuses on assisting listed companies, with experience advising on public offerings and private placements; and David Roelens is equally proficient in advising on capital markets issuances and real estate finance.

Praxisleiter:

David Roelens; Laurent Godts; Astrid Delanghe


Referenzen

‘Although the matter is highly technical, the team was able to provide sufficient context, allowing the client to make informed and tactical decisions.’

‘Accessible and open communication between management and partners. Proactive and empathic thinking.’

Highlight-Mandate


  • Advised ING Belgium SA/NV and Van Lanschot Kempen N.V. as Joint Global Coordinators’ counsel on the €153m capital increase of Montea NV.
  • Advised ICLH and VMAG on multiple amendments and expansions to a €392m borrowing base facility, including a €75m commitment increase and a €150m senior facilities agreement to support Belgian acquisitions and green term loans.
  • Advised Milcobel on a cooperative share offering, a €166m syndicated acquisition financing, and the carve-out and sale of its ice cream business in a multi-jurisdictional setting.

Simmons & Simmons

Simmons & Simmons acts for both lenders and borrowers, with experience handling complex cross-border finance transactions across the mining, energy, private equity and financial institutions sectors. Practice head Eric Blomme demonstrates a strong track record in acquisition, real estate and trade and export finance. Martin Carlier specialises in handling regulatory matters, with particular expertise in insurance sector regulatory issues.

Praxisleiter:

Eric Blomme


Weitere Kernanwälte:

Martin Carlier


Referenzen

‘Think outside of the box.’

‘Pro-active and constructive thinking.’

‘Very happy with the flexibility and expertise shown during the entire process.’

Kernmandanten

ABN AMRO Bank N.V.


Belfius Bank SA/NV


Caisse d’Épargne et de Prévoyance Hauts de France


Euroclear SA/NV


Goldman Sachs


HSBC Continental Europe


ING Belgium SA/NV


J.P. Morgan Chase & Co.


KBC Bank NV


Morgan Stanley


NatWest Markets


PGGM


Rabobank


Highlight-Mandate


  • Advised Traxys as lead counsel on the refinancing of their $1.815bn flagship multicurrency syndicated borrowing base credit facilities.
  • Advised ABN AMRO Bank N.V. on the green refinancing of the Woluwe Shopping Centre, involving listed Belgian borrower Eurocommercial Properties.
  • Advised Argenta on its €800m Residential Mortgage-Backed Securities transaction, Golden Apple 2025-I NHG.

AKD

AKD‘s growing banking and finance offering draws on Antoine De Raeve and Jan Missoul‘s longstanding experience in the space, with the pair advising on leveraged finance, project finance, and trade and export finance matters.

Praxisleiter:

Antoine De Raeve


Weitere Kernanwälte:

Jan Missoul


Referenzen

‚High end, to the point and top legal expertise.‘

‚The lawyers possess a wealth of experience accumulated over many years of dedicated practice and consistently deliver transactional advice of the highest professional standard.‘

‚As a client, what I value most about this team is the level of partner involvement. The partners here are truly hands-on and always available, which gives me confidence that key issues are being addressed quickly and with real expertise.‘

Kernmandanten

Morgan Stanley


KBC Bank


Belfius Bank


ING Belgium


BNP Paribas Bank Polska


Castleforge


Permira


Ghelamco


POWr Group


Passport Belgium


Mentha Capital


Human8


Greenyard


PMV – Participatiemaatschappij Vlaanderen


pppconnect


Varadero Capital


HSBC UK Bank


Jaga Group


Skill Dynamics


Highlight-Mandate


  • Acted for Passport Belgium and Korean real estate fund United Partners in the refinancing of the development of the high-profile Passport Building at Brussels Airport, a strategic asset in Belgium’s largest airport hub.
  • Advised pppconnect (a joint venture between EPICo² and Rebel Energy & Infra Developers) on a comprehensive cooperation and financing framework with Ethias, covering a pipeline of public-private partnership (PPP) projects across Belgium.
  • Advised KBC Bank and Belfius Bank on a Credendo-backed export credit facility to South Energyx to finance dredging works performed by the DEME group on the Eko Atlantic project in Nigeria.

ALTIUS

ALTIUS is well-equipped to handle financial restructuring, structured finance, acquisition finance as well as regulatory advisory matters. The team advises both borrowers and lenders across the retail, technology, finance and manufacturing sectors. Practice head Audrey Zegers specialises in the regulatory aspects of banking and financial services matters, with experience advising on MiFID II. Alias Nys focuses on the payments industry, with experience handling fund formation mandates.

Praxisleiter:

Audrey Zegers


Weitere Kernanwälte:

Alias Nys


Referenzen

‘They are very knowledgeable, responsive and quick in their legal advice.‘

‚Matters with time pressure were handled very well, with efficiency and with excellent outcomes.’

Kernmandanten

AED Group


Amplience


Artan Hospitality / Murs d’Artan


Barclays Bank Plc


Besix Group


Commerzbank AG


Cosway Sports Belgium NV


Crisp


Deutsche Invest Mittelstand GmbH


Dorel Belgium NV


Hilco Capital


JPMorgan Chase Bank, N.A.


LEEN BAKKER BELGIE NV


Les Nouveaux Ateliers de la Meuse


LME Clear


NUMA Group


OneSpan


ONEtoONE Finance Benelux


Palmira Capital Partners


Polyvision NV


Royal Bank of Canada


TI Automotive


Three Point Capital


Triple-M & Rock-it Cargo EU Holdings


Triple Point Advancer Leasing Plc


Velleman Group / Properties Legen Heirweg


Highlight-Mandate


  • Advised LEEN BAKKER in its negotiation of its financial restructuring with Rabobank and ING.
  • Assisted US listed group OneSpan in negotiating its new financing with MUFG.
  • Assisted Dorel in closing its receivables financing deal with FGI Worldwide LLC.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton is highly sought-after among blue-chip corporate clients, international private equity funds, financial institutions and sovereigns. A core area of focus is the capital markets space, where Laurent Legein and Marijke Spooren demonstrate experience handling high-profile IPOs and equity-linked bond issuances. Christophe Wauters left the firm in October 2025.

Weitere Kernanwälte:

Laurent Legein; Marijke Spooren; Jean‑Sébastien Rombouts


Referenzen

‘The team is among the most robust in the market, excelling in both legal expertise and strategic insight. It stands out for its deep understanding of the sector, key issues, and the unique characteristics of its clients. The team is highly attentive to client needs and offers reliable advice.’

‘Laurent Legein stands out for his exceptional legal and strategic acumen, as well as his strong interpersonal skills. His extensive expertise and experience across various domains are noteworthy.‘

‚Laurent Legein excels in communication and maintains transparency in his client relationships, prioritising long-term trust.

Kernmandanten

OVH Groupe


CMA CGM


Axéréal


Belron


Infinite Electronics


The Republic of Côte d’Ivoire


The Republic of Benin


The Republic of Togo


Qair International SA


Port Autonome de Cotonou


Institut Pasteur Dakar


The Republic of Senegal


Goodyear


Attestor


Goodyear


Louis-Delhaize


Ontex


Showpad


Solvay


Vandemoortele


Collibra


BNP Paribas Fortis


bpost


Infrabel


ArcelorMittal


Eurofima


Société des Pétroles du Sénégal


The Republic of Congo


Aéroport International Blaise Diagne


Highlight-Mandate


  • Advised OVH Groupe in  the financing of its public share buyback offer and the refinancing of its existing indebtedness, as well as in connection with its debut high-yield bond offering, as part of OVH’s diversification of its sources of funding.
  • Advised Axéréal in its €1.9bn secured refinancings, allowing the ringfencing of its malt and non-malt businesses.
  • Advised the Republic of Côte d’Ivoire on a €400m debt-for-development swap backed by the World Bank.

Lydian

Lydian offers a wealth of experience acting for major domestic and multinational lenders and sponsors on high-value finance transactions. Standing out for his ‘extensive experience’ and ‘extremely pragmatic’ approach, Pieter-Jan Leemen heads the team. Leemen brings a deep track-record concerning energy and PPP project finance, asset-based finance, and syndicated lending. Tom Geudens left the firm in March 2025.

Praxisleiter:

Pieter-Jan Leemen


Referenzen

‘Pieter-Jan Leemen’s practice has a very wide scope and is extremely available and very experienced and pragmatic.‘

‘Pieter-Jan Leemen has extensive experience. He is very approachable and extremely pragmatic.’

Under Pieter-Jan Leemen’s leadership, Lydian’s banking and finance practice has become a dynamic and trusted partner for both domestic and international financial matters.‘

Kernmandanten

AIG Europe Ltd


Allianz Global Corporate


Deutsche Bank Capital Markets


Société Générale


Crédit Agricole


HDI-Gerling Verzekeringen NV


Financial Insurance Company td. c/o AXA


Amlin Insurance SE


Zurich Insurance Plc


CNA Insurance Company Ltd


Royal & Sun Alliance Insurance (Global)


Aon Belgium BVBA / Aon Consulting Belgium NV


Ergo Insurance NV


Ethias SA


Belfius Bank NV


Baloise Belgium NV


AEGON NV


Qover NV


P&V Verzekeringen CVBA


SEB Life International Assurance Company


Dual Corporate Risks Ltd.


ARAG SE – Branch Belgium


DAS Belgische Rechtsbijstandsverzekering


FWU Life Insurance Luxembourg S.A.


Hiscox Europe Underwriting Limited


STIB-MIVB


TVM België N.V.


Liberty Mutual Group


Beluga Insurance Solutions NV


Alta Signa Group


Immoweb Financial Services SA


Arval


DKV


CME


Merian


SNS Bank


Federale Pensions


PMV


BTMU


Adams Street Partners


N26 Bank


TD Securities


White Rock Insurance


ANZ Bank


Mercedes


Royal Bank of Canada


Argenta Bank


Lufthansa Airplus


KBC Bank NV


Bank of America


Deutsche Bank


Commerzbank


Wells Fargo


National Westminster Bank


Equistone


United Rentals


Burgo Ardennes SA


Hitachi Capital


TMF Group


ABN Amro Bank N.V.


Bank of Montreal


ING Bank N.V.


Highlight-Mandate


  • Advised Luminus on the financing of its 150 MW / 600 MWh battery energy storage park in Navagne (Visé), Belgium.
  • Advised ABN Amro on a senior and mezzanine financing for the online supermarket Crisp.
  • Advised the TSG group on a €735m secured financing transaction.

Monard law

Monard law offers a broad team across the banking and finance space. Jean-Pierre Buyle focuses on banking and financial services disputes. André-Pierre André-Dumont pairs knowhow in banking sector disputes with a core focus on financial sector regulation. On real estate and project finance mandates, Stefaan Van Dyck is a key contact. Laurent Cloquet specialises in market authorisation, regulatory obligations, and sanctions issues.

Praxisleiter:

Jean-Pierre Buyle; André-Pierre André-Dumont; Stefaan Van Dyck; Laurent Cloquet


Weitere Kernanwälte:

Lara Degeest; Armelle Zaluzec


Referenzen

‘Expertise and competence.‘

‘The availability of the team.’

‘Excellent banking and finance team.’

Kernmandanten

BNP Paribas Fortis


Quanteus group


ING Bank


KBC Bank


AION


Keytrade Bank


Bank Nagelmackers


BIL


Belfius Bank


Citibank NA


Jan De Nul


Democo


ZNA


Merit Capital


Crelan


Beobank


AXA Bank


BNP Paribas Leasing Solutions


Freedelity


Lombard Odier


Stevens & De Munter


ABN Amro


Belfius Insurance


Architas


Indosuez Wealth Management


Alena


Wehave


Phoenix Capital


Aiia


Bank Pictet & Cie AG


Kairon Labs BV


Highlight-Mandate


  • Assisted KBC Bank and BNP Paribas Fortis as lenders’ legal advisor in the context of the bidding and design phase for the first lot of 27 new school buildings to be developed in the Flanders Region in Belgium as part of the Scholen van Vlaanderen PPP Programme.
  • Advised the consortium led by contractor Jan De Nul in connection with the DBFM project for the construction of a new prison in Leopoldsburg.
  • Assist BIL in drafting Lombard loan contracts in compliance with regulatory requirements.

Strelia

Strelia advises both borrowers and lenders on syndicated loans, acquisition finance, project finance and securitisation matters. Practice head Frédéric Heremans boasts experience handling both domestic and cross-border financing transactions. Sébastien Ryelandt is sought-after for his banking litigation and white-collar crime expertise. Bart De Moor stands out on restructuring mandates.

Praxisleiter:

Frédéric Heremans


Weitere Kernanwälte:

Sébastien Ryelandt; Bart De Moor


Kernmandanten

Factofrance / Crédit Mutuel Factoring


Lifestyles Group


Axalta Coating Systems


Absolute Capital Partners


Société Générale


Caisse d’Epargne Hauts de France


Bayerische Landesbank


Highlight-Mandate


  • Assisted Société Générale for the financing and the refinancing of the acquisition by, and the existing indebtedness of, Healthcare Activos Inmobiliarios 21, SLU (Healthcare Activos Yield Socimi SA) of a group of companies involved in the health care, involving the acquisition of eight property companies in Belgium.
  • Assisted Bayerische Landesbank in connection with the refinancing of the acquisition of a retail property held by LSVAF2 Cosmopolitan Investment.
  • Assisted Caisse d’Epargne Hauts de France and Banque Palatine in the framework of the debt restructuring and additional financing of a group of companies involved in the real estate sector.