Photo, Philippe Steffens

Philippe Steffens

Partner
Baker & McKenzie Amsterdam N.V.

Biography

Philippe Steffens heads Baker McKenzie's Global Securitisation Practice and the Banking & Finance Practice in Amsterdam. He is a member of the European Banking & Finance Steering Committee. Philippe has been consistently recognized as a leading lawyer for securitisation and structured finance in Chambers Global, Chambers Europe, the Legal 500 and IFLR. Philippe joined the Amsterdam office as a partner in 2006. His clients are mainly financial institutions, asset managers, hedge funds and other alternative investment firms.

Practice Focus

Philippe focuses on securitisation, structured credit products, collateralised loan obligations (CLOs) and loan portfolio transactions involving a wide variety of asset classes, as well as debt capital markets. In addition, Philippe also advises banks and corporates on general financing transactions, often with a more structured angle, such as supplier finance and asset based lending.

Representative Legal Matters

  • Advised Argenta Spaarbank NV on two Dutch RMBS transactions: EUR 1.2 billion via Green Apple 2017-I-NHG and EUR 1.1 billion via Green Apple 2018-I-NHG.
  • Advised Arrow Global / Vesting Finance as members of the winning consortium for Project Yellow (sale by Rabobank of RNHB Hypotheekbank and EUR 1.7 billion mortgage portfolio).
  • Advised VW Financial Services on its inaugural Dutch auto lease securitsation in an amount of up to EUR 1 billion.
  • Advised multiple Dutch and foreign parties on the structuring and set-up of new Dutch residential mortgage lending platforms.
  • Acted as Dutch counsel on around 90 CLO loan transactions in the European CLO 2.0 market. Examples include the first European CLO since the financial crisis (Cairn CLO III B.V.) and the first additional issuance among the European 2.0 CLOs (upsize of the Dyrden XXVII transaction).
  • Advised Natixis on various transactions in the Dutch mortgage market, including a rated Dutch RMBS warehouse facility for Merius Hypotheken; and as arranger, underwriter and senior investor in a EUR 250 million Dutch consumer loan warehousing facility for a foreign investor.
  • Acted as lead counsel to ING Bank with respect to several covered loan financing transactions.
  • Advised multi-metals business Nyrstar on a EUR 600 million comprehensive strategic financing package, and the issuance of EUR 400 million 6.875% Senior, Guaranteed Notes due 2024, with admission to trading on the Euro MTF Market of the Luxembourg Stock Exchange.
  • Acted as transaction counsel on the first Dutch consumer loan securitization of Santander Consumer Finance Benelux B.V., with SCF Benelux B.V. as originator of consumer loans to Dutch individuals, and Santander Global Banking & Markets as co-arranger.
  • Advised Stichting Note Trustee Opera Finance (Uni-Invest) as note trustee with respect to restructuring, enforcement and representation before the Dutch court in relation to a Dutch CMBS transaction.

Professional Associations and Memberships

  • Dutch Bar Association (Nederlandse Orde van Advocaten) - Member
  • Dutch Tax Advisers Association - Member

Admissions

  • England & Wales~United Kingdom (2002)
  • Amsterdam~Netherlands (1996)

Education

  • New York University School of Law (LL.M. Taxation)
  • University of Leiden (Law Degree)

Languages

  • Dutch
  • English
  • French
  • German