Our Nordics practice provides Nordic financial institutions and companies a premier multi-practice offering across capital markets, private placements, corporate, M&A, finance, derivatives, restructuring, tax, real estate, financial regulatory, financial services, anti-corruption, anti‑money laundering and sanctions, compliance and investigations, privacy and data security.
Our attorneys are sensitive to local culture, attuned to the latest market developments, and have strong relationships with local firms, regulators, industry associations and other strategic partners.
As a leading global tech firm, our regional industry experience includes agtech, auto tech, and healthcare. Other industry experience spans shipping, energy, real estate, infrastructure, forestry products, seafood and aquaculture.
Our team has expanded recently with joiners in the areas of business crime, private equity real estate, private equity, and tax.
Our experience includes advising:*
- Norspan LNG VIII AS, a shipping company based in Norway, in connection with a $220 million private placement of senior secured notes.
- Landsvirkjun, an Icelandic utility, in connection with the issuance of its Senior Unsecured Notes, reported to be the first ESG-linked private placement in Europe.
- E-CO Energi Holding AS, Norway's second largest producer of hydroelectricity, in connection with a $125 million private placement of senior unsecured notes.
- Íslandsbanki hf, in connection with establishing and updating their Global Medium Term Note and 144A Medium Term Note programs. We most recently advised Íslandsbanki on their $1.5 billion GMTN program update.
- Danish Crown A/S, a global meat processing company based in Denmark, in connection with a $50 million, £100 million and €100 million private placement of unsecured notes.
- Royal Greenland A/S, a fishing company in Greenland, in connection with a DKK213 million and $88 million private placement of senior unsecured notes.
- Sikuki Nuuk Harbour A/S, Sikuki Nuuk Harbour, owner of the national port of Greenland, in connection with a €59 million private placement of senior secured notes.
- Copenhagen Airports APS, Denmark’s main international airport, in connection with various private placements, including a private placement of DKK1.1 billion; $120 million; and €30 million of senior unsecured notes.
- Aker BP (Norwegian oil and gas company) in connection with Rule 144A/Reg S high yield offerings.
Our lawyers include recommended and or leading lawyers in applicable legal directories and have advised borrowers and financiers on top and mid tier acquisition and other financings in the Nordic region. Our experience includes advising:
- Initial purchasers with the inaugural US$2 billion offering of senior notes by Lundin Energy Finance B.V.
- The acquirer on its first and second lien financing for the take private LBO of Nets, a major Nordic payments processor and the largest LBO in Europe for a 5 year period.
- Nets on its €440m first and second lien financing for the acquisition of a Polish payment processing business.
- The Mandated Lead Arrangers and Initial Purchasers in connection with Nordic Capital’s initial acquisition of Lindorff and subsequent merger with Intrum Justitia AB (publ).
- The sole direct lender in respect of Oakley Capital’s investment in Seagull and Videotel.
- The mandated Lead Arrangers on the term and bridge financings for Nokia’s acquisition of the balance of its joint venture with Siemens.
- The sole direct lender providing financing in connection with the take-private of Sweden’s Opus AB by Searchlight.
- Aker BP (Norwegian oil and gas company) in connection with Rule 144A/Reg S high yield offerings
- Glitnir Bank hg. and Landsbanki Islands hf, two of the largest banks in Iceland, in chapter 15 proceedings.
- Resolution Committee of Glitnir Bank hf, in relation to the issue of compensation instruments coupling equity, debt and contingent debt in an amount aggregating approximately $500 million.
- Resolution Committee of Landsbanki Islands hf, in relation to the issue of compensation instruments coupling equity, debt and contingent debt in an amount aggregating approximately $3 billion.
- LBI ehf, an Icelandic private limited company that is the resolution entity for Landsbanki, the Icelandic bank, as special U.S. counsel in connection with the March 2016 exchange offer under Section 3(a)(10) of the Securities Act of 1933 of the remaining composition claims of LBI ehf.'s unsecured non-priority creditors for a combination of a de minimis amount of cash and equity securities and €2 billion aggregate principal amount of Convertible Bonds due 30 November 2035 of LBI ehf.
- The Resolution Committee and Winding-up Board of Landsbanki Islands hf, in relation to a number of disputes and potential disputes arising from derivative contracts and other financial contracts entered into by Landsbanki. This included advising on the litigation in the Scottish courts between Landsbanki and the administrators of Heritable Bank (Landsbanki’s subsidiary).
- The Resolution Committee and Winding-up Board of Glitnir Bank hf, in relation to a number of disputes and potential disputes arising from derivative contracts and other financial contracts entered into by Glitnir.
Corporate, technology transactions, antitrust, privacy
- We regularly counsel healthcare, forestry product, agtech, and oil and gas companies in connection with corporate, technology transactions, antitrust and privacy matters.
- This includes advising in connection with EU and UK competition law, including merger control, vertical issues, litigation, and compliance, licensing, encryption legislation and a host of other data privacy issues.
- Amongst a range of real estate deals within the Nordic region, we advised a controlled affiliate of Starwood Capital on its joint venture with Avara Oy to acquire, a Finnish residential portfolio of approximately 2,200 units from a consortium of Finnish vendors. The portfolio of 73 assets was located across 16 cities, with half the portfolio by value being in the Helsinki region.
Investigations and Compliance
- We have extensive experience in issues involving the FCPA and other anti-corruption laws around the world, such as the UK Bribery Act, Sarbanes-Oxley, the whistleblower provisions of the Dodd-Frank Act, international trade, and export controls. Our team includes former federal prosecutors and regulators – we are the only law firm in the world with two former managers of DOJ ’s FCPA Unit. As with our AML and Sanctions practices, our investigations and compliance practices in FCPA and anti-corruption matters involves collaborative work among our subject matter experts and investigation teams.
- Having been the principal authors of the first edition of DOJ and SEC’s landmark FCPA Resource Guide and having been appointed as a monitor by DOJ, our attorneys have the experience, reputation, and insights to help build a compliance program from the ground up, enhance an existing program, and benchmark against government expectations and industry standards.
- Our US team works with Nordic banks, advising on a wide range of matters related to the regulation of international banks and their affiliates under U.S. federal and state laws. Our attorneys have experience advising Nordic banks on U.S. laws relating to expanding their U.S. presence through direct offices and subsidiaries, and on how U.S. banking regulators exercise prudential regulation and supervision of foreign banking organizations in the United States, including under the U.S. Bank Holding Company Act, the Volcker Rule, the International Banking Act, the Federal Reserve Act, the New York Banking Law, the California Financial Code and other key federal and state statutes. In addition, we counsel foreign bank clients and their broker-dealer and investment advisor affiliates and affiliated funds, with respect to compliance with all aspects of federal securities laws, including investment adviser issues.
- Our London team has the capability to advise on a broad range of UK and EU regulations covering the operation of banks, investment firms, hedge funds, PE houses, fund managers, other regulated firms and non-regulated corporates. We have significant experience working with the FCA and the PRA in the UK and have successfully secured regulatory approvals and authorizations in the UK and the EU.
Anti-Money Laundering and Sanctions
- With our AML and Sanctions teams working in close collaboration, we have advised Nordic financial institutions in connection with their AML programs under the U.S. Bank Secrecy Act and state law requirements, U.S. sanctions compliance and liability issues, risk mitigation, and internal reviews. We also regularly provide compliance training to clients in connection with their AML and sanctions programs. Our experienced team, with substantial depth of experience in government and with AML and sanctions enforcement-related matters, represents our foreign bank clients in regulatory investigations, responding to administrative subpoenas and similar inquiries, bank regulatory examinations, and voluntary self-disclosures.
*Includes prior firm experience