Capital Markets: Sweden

THE FIRM Vinge's capital markets team continues to lead within both debt and equity capital markets, with high-profile transactions coming from the Stockholm, Gothenburg and Malmo offices. Top-notch equity capital markets clients include Morgan Stanley, Altor Equity Partners and JPMorgan; key names on the debt capital markets side include Nordea Bank, Swedbank and Svensk Exportkredit. Recent highlights include advising Altor 2003 Fund and Byggmax on the IPO and listing on NASDAQ OMX Stockholm of Byggmax, with a deal value of SEK1.33 billion.

Sources say: "Always visible and active in the market, handling some huge transactions."

KEY INDIVIDUALS Stefan de Hevesy remains at the top of the rankings and is lauded by clients as being "commercially minded and extremely experienced in debt capital markets." The "outstanding" Göran Nyström is hailed for his extensive experience in capital markets, particularly IPOs. Sources say that he is "excellent, pragmatic and fun to work with." Clients appreciate Mikael Ståhl's debt capital markets expertise, and observe that "he has a great understanding of the environment in which banks work; he anticipates the views of stakeholders and is extremely business-oriented." Sources highlight "highly skilled" Erik Sjöman's academic prowess.

THE FIRM This firm's leading equity capital markets practice frequently covers large and complex transactions including rights issues, private placements, public takeovers and listings on NASDAQ OMX Stockholm, whilst the active debt capital markets practice forms part of the firm's busy banking and finance team. Recent successes include advising on the combined SEK2.5 billion rights issue and SEK5 billion refinancing of Eniro, and the SEK1.8 billion capital increase in PA Resources.

Sources say: "It is extremely strong – definitely a top firm."  

KEY INDIVIDUALS Remaining at the top of the rankings, Dick Lundqvist is unanimously considered excellent. "He is rock solid, highly experienced, pragmatic and commercially minded," confirm interviewees. Peers note that Manfred Löfvenhaft is a "brilliant lawyer – matters always move smoothly with him at the helm." Newly ranked up-and-comer Fredrik Palm receives warm recommendations on all sides.

THE FIRM This capital markets powerhouse advises on a range of high-profile transactions, with outstanding expertise in both the debt and equity sectors. Its prestigious client list includes Noventus, Hexagon and Electrolux. Amongst numerous noteworthy mandates, the group advised Scandinavian Airlines on a bond issue worth SEK1.3 billion plus EUR75 million, and acted for Svensk Hypotekspension on its securitisation of equity release mortgages, the first of its kind in the Nordic region.

Sources say: "Excellent at finding first-rate solutions. Every lawyer that we have met there is solid, knowledgeable and reliable."

KEY INDIVIDUALS Sources highly recommend André Andersson as "commercial, practically minded and an excellent technician." Hailed as "consistently brilliant," Eva Hägg has an outstanding reputation for capital markets work. Anders Lindblad is "an extraordinary lawyer with traditional values. He is superb at building strong client relationships," observe interviewees. Joining the rankings this year, Patrik Marcelius wins praise for being "fast – he makes things happen – as well as extremely knowledgeable, with a good sense of humour."

THE FIRM This well-regarded team is particularly admired for its debt capital markets capabilities, and has close links to the firm's leading banking and finance practice. The firm's equity capital markets team is also active and well known. Amongst many notable highlights, the debt capital markets team helped Kommuninvest i Sverige to establish its domestic bond issuance programme, whilst the equity capital markets team advised Millicom International Cellular on changing its primary listing from the USA to Sweden, on the NASDAQ OMX Stockholm. 

KEY INDIVIDUALS Remaining at the top of the rankings, Svante Hultqvist is especially recommended for his expertise in debt capital markets. Sources greatly respect Wilhelm Lüning for his depth of experience and knowledge of equity capital markets, and note his "keen interest in enhancing the framework of the regulatory world." Carl-Johan Deuschl receives stellar feedback, and Magnus Lindstedt earns enthusiastic praise from sources for being "practical and highly competent, and fast gaining experience."

THE FIRM Best known for its international capabilities, the Stockholm office of Linklaters focuses on large and complex global deals. The team's impressive multinational client list includes SEB, Handelsbanken, RBS, Danske Bank and Nordea Bank. Highlights include advising SEB Enskilda and Crédit Agricole CIB on the SEK6.5 billion rights issue by Hexagon.

KEY INDIVIDUALS Peers recommend Jörgen Axelsson as "superb, hard-working and always available." Fredrik Lindqvist is "a superior negotiator and a high-quality lawyer," say sources.

THE FIRM This well-established firm recently promoted two lawyers to partnership, Erik Fahlgren and Peder Grandinson, both of whom bring valuable experience and expertise in capital markets to the strong team. High-profile clients include GM, IKEA and Morgan Stanley.

KEY INDIVIDUALS Sources view practice head Peder Hammarskiöld as "a rainmaker for the firm," and he continues to be highly recommended.

THE FIRM This Finnish firm is continuing to make an impact with its office in Stockholm. Whilst its primary focus is on equity capital markets, the team is also increasingly active in debt capital markets. Significant recruitment includes Chistoffer Saidac from Vinge. Recent highlights for the group include advising EQT on its EUR250 million public offer for Academedia. 

KEY INDIVIDUALS Seasoned practitioner Sören Lindström continues to attract high praise for his "exceptional knowledge and ability to find solutions." Sources say that Jan Jensen is "hard-working, creative, detail-oriented and focused on closing deals," whilst Christoffer Saidac is "exceptionally intelligent and technically skilled."

THE FIRM This Finnish firm continues to expand its Stockholm office, notably recruiting new partners from Vinge including Ola Sandersson and Pontus Enquist, both of whom have considerable capital markets experience. In addition to its Finnish, Danish and Swedish offices, Roschier has links with the firm Raidla Lejins & Norcous, which covers the Baltic states.

KEY INDIVIDUALS Peers recommend the greatly accomplished Ola Åhman, who is known for his strong theoretical skills.

THE FIRM This international team is particularly strong on equity capital markets work, strengthened by its close links to the firm's London office. It has been advising some top-range global clients such as Morgan Stanley and SEB Enskilda, and continues to increase its market share in Sweden. A highlight for the group was acting for UBS, Carnegie Investment Bank and Handelsbanken Capital Markets on the SEK530 million IPO of Transmode Systems, giving the company a total market capitalisation of SEK1.5 billion.

KEY INDIVIDUALS Sources say that Jon Ericson, recruited from Nordea Corporate Finance, is "excellent, extremely capable – we expect great things of him."

THE FIRM Known for its corporate law focus, this well-reputed firm continues to build up its expertise in the capital markets area. Highly rated clients include Swedish and international companies, private equity houses, asset managers, investment banks and financial institutions such as Arise Wind Power, NGM and Hemtex. 

KEY INDIVIDUALS Equity capital markets group head Kristina Einarsson is dual-qualified in England and Sweden.

THE FIRM This international player has Swedish, US and English capital markets expertise in the Stockholm office. The capital markets practice focuses on helping Swedish corporations to access the global capital markets through IPOs, secondary stock offerings, convertible debt and straight debt offerings. The team draws on the resources of the firm's global network, and has a broad client base. Recently, it advised Nordic Capital on its successful public tender offer for all shares in Munters, with a total offer value of EUR615 million.

Sources say: "Excellent advice and good value for money."

KEY INDIVIDUALS Formerly at Vinge, Rikard Stenberg is extremely popular with interviewees, who enthuse that he "really knows his stuff – we can always be confident that the work he produces will be flawless."