Capital markets

When state-owned companies, public-sector enterprises or municipalities are looking to borrow funds, the amounts involved are substantial and the capital is often procured via the international capital markets or, if through Danish banks, then on terms and conditions which typically reflect international standards.

The loan documentation is usually complex and extensive and drawn up based on standards which only industry experts are familiar with. Loans are often accompanied by swap transactions for interest or currency hedging purposes.

In some cases, lenders will expect a legal opinion from a Danish lawyer to ensure that the borrower has the necessary authority and that everything is in perfect order from a Danish law perspective.

Whether or not a legal opinion is required, it is always advisable to seek independent legal advice.

We are very experienced in such transactions, including traditional loan agreements, loan programmes, bond loans and loans secured by a guarantee or pledge. Some transactions require a prospectus to be prepared, and we have robust experience in this regard as well.

We assist clients in the preparation and negotiation of documentation, ensure that the necessary preparations have been made by the client, and will issue a legal opinion, if necessary. We are also happy to take on a coordinating role in this process.

After around three decades of working with ISDA documentation, including preparation and negotiation of ISDA framework agreements, CSAs, etc., we are familiar with this – highly – special area of documentation of financial instruments.