Department profile
NautaDutilh

Capital Markets: Securitisation

Europe Guide 2026 : Netherlands

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NautaDutilh

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About

Provided by NautaDutilh

The financing capacity of banks has reduced with the new capital requirements. Demand for alternative sources of financing is increasing. NautaDutilh's Capital Markets team assists companies in using both conventional and a growing choice of alternative forms of finance.

The team has extensive experience in advising issuers and lead managers/underwriters. We offer advice on various forms of equity capital markets transactions (IPOs and rights issues), debt capital markets transactions (advising on the issuance of stand-alone bonds, high-yield debt and investment grade debt), the drafting of debt issuance programmes for retail investors and professional market parties, and so-called direct loans.

NautaDutilh places the needs of the client as foremost, and where necessary will develop innovative structures to respond to those needs. An illustrative example of this was the recent financing of the largest single-asset real estate deal in Dutch history: the acquisition of the High Tech Campus from Philips Electronics Nederland by a consortium of investors led by Marcel Boekhoorn. A Credit Tenant Lease financing structure comprised of an innovative mix of derivatives, insurances, collateral, a U.S. note, indemnities and guarantees under various applicable laws.

Chambers Review

Provided by Chambers

Capital Markets: Securitisation - Netherlands

Band 1

What the Team is Known For
NautaDutilh boasts a market-leading securitisation practice, advising sponsors, originators, issuers and investors on RMBS transactions, portfolio sales, covered bond programmes and mortgage investment platforms. The law firm is also highly regarded for its work on ECM and DCM mandates, with particular experience in transatlantic transactions. It offers notable expertise in both corporate and regulatory bond issuances, including acting for the purchasers, as well as in assisting with the establishment of EMTN programmes. The team is also a popular choice with underwriters, SPACs and sponsors for advice on IPOs, capital raises and business combinations.
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Work Highlights

Provided by Chambers

  • NautaDutilh assisted Achmea Bank as issuer counsel with the set-up of its retained soft-bullet covered bonds programme, as well as subsequent covered bond issuances.

Strengths

Provided by Chambers

  • NautaDutilh provides exceptional advice that is always correct. The team meets extremely tight deadlines and has the ability to translate complex legal concepts into actionable commercial executions.

    Capital Markets: Securitisation respondentEurope

  • NautaDutilh is distinguished by its deep market expertise, hands-on partner involvement and pleasant, client-centric approach. The team has an excellent track record in complex transactions.

    Capital Markets: Securitisation respondentEurope

  • NautaDutilh offers extensive knowledge and experience in the Dutch securitisation and covered bonds market. It is one of the go-to teams for advice on such transactions.

    Capital Markets: Securitisation respondentEurope

  • NautaDutilh has top-notch lawyers with in-depth knowledge who understand both the legal and business perspectives. What I really like is that they come up with pragmatic and workable solutions.

    Capital Markets: Securitisation respondentEurope

  • NautaDutilh's decade-long track record, best-in-class expertise and personal connection with the team are unparalleled in the Dutch structured finance market.

    Capital Markets: Securitisation respondentEurope

Notable Practitioners

Provided by Chambers

  • Arjan Scheltema
    Arjan Scheltema

    Arjan Scheltema

    Arjan Scheltema is known for his expertise and high levels of activity in the setting up and updating of covered bond programmes. He has additional experience in multi-tranche mortgage securitisations and STS-compliant transactions.

    • Arjan Scheltema is an extremely knowledgeable and thorough lawyer. He is able to flag relevant legal issues and developments while maintaining awareness of the bigger picture and risks for the client.

      Capital Markets: Securitisation respondentEurope

    • Arjan Scheltema is the most knowledgeable and experienced covered bonds lawyer in the Netherlands.

      Capital Markets: Securitisation respondentEurope

    • Arjan Scheltema continues to be the go-to counsel in the Dutch market for covered bonds and securitisation transactions. He is a very thorough legal adviser with a very strong track record.

      Capital Markets: Securitisation respondentEurope

    • Arjan Scheltema is very pleasant to work with and very knowledgeable.

      Capital Markets: Securitisation respondentEurope

    • He has a sharp eye for legal detail, ensuring clients are in capable hands.

      Capital Markets: Securitisation respondentEurope
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  • Michaëla Ulrici
    Michaëla Ulrici

    Michaëla Ulrici

    Michaëla Ulrici is a highly esteemed practitioner who regularly acts as drafting counsel on matters, including RMBS transactions and warehouse securitisations, as well as advising on investor accessions to mortgage loan platforms she advised on setting up.

    • Michaëla Ulrici brings a depth of experience which is almost unparalleled in the market.

      Capital Markets: Securitisation respondentEurope

    • Michaëla Ulrici is outstanding and you are really sure you have one of the best lawyers in the Netherlands in her field of expertise, which makes it very pleasant to have her involved in your matters.

      Capital Markets: Securitisation respondentEurope

    • Michaëla Ulrici is a strategic thinker who does an amazing job at providing her clients with all the necessary tools to navigate complex structures.

      Capital Markets: Securitisation respondentEurope

    • Michaëla Ulrici continues to be a top-tier lawyer in the Dutch market. For me, it is unimaginable to not have her on my team, particularly in complex transactions with multiple stakeholders involved.

      Capital Markets: Securitisation respondentEurope

    • She is always one step ahead in making clients feel confident and reassured.

      Capital Markets: Securitisation respondentEurope
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  • Petra Zijp
    Petra Zijp

    Petra Zijp

    Petra Zijp's extensive knowledge includes public offerings and private placements, and she is particularly focused on advising international banking syndicates on IPOs and SPAC transactions. She has additional experience assisting Dutch companies with preparing their listings in the USA, as well as advising on DIP updates and note issuances.

    • Petra Zijp is a truly trusted partner who provides excellent legal advice based on a very good understanding of our company and its strategy.

      Capital Markets: Securitisation respondentEurope

    • Petra Zijp provides solid and well-founded advice.

      Capital Markets: Securitisation respondentEurope
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  • Antonia Netiv
    Antonia Netiv

    Antonia Netiv

    Antonia Netiv is well regarded for her work in the capital markets space, advising sponsors, issuers and underwriters on a broad range of debt and equity transactions. Her recent work highlights include SPAC IPOs and business combinations, as well as debt issuances involving convertible bonds and medium-term or senior note programmes.

    • I was super impressed by her expertise, her way of moving the process forward and her people skills.

      Capital Markets: Securitisation respondentEurope

    • Antonia Netiv is a highly recommended lawyer.

      Capital Markets: Securitisation respondentEurope

    • Antonia Netiv is very analytical and cuts straight through to the key issues involved. She is articulate, presents her case well and is super helpful in navigating complex issues.

      Capital Markets: Securitisation respondentEurope
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  • Liza Gerritsen
    Liza Gerritsen

    Liza Gerritsen

    Liza Gerritsen supports her clients on securitisation mandates, including RMBS transactions, STS-compliant warehouse securitisations, establishing loan platforms and connected investor accessions.

    • Liza Gerritsen is a delight to work with as she effortlessly manages the practical, legal and personal aspects of any deal towards a solid outcome.

      Capital Markets: Securitisation respondentEurope

    • Liza Gerritsen is an expert. She is very proactive in problem-solving, and is approachable, very easy to reach and always there to help.

      Capital Markets: Securitisation respondentEurope

    • She is involved on all the right levels and is sharp on details but does not lose sight of the bigger picture while at it. Her energy and skills make her an exceptional lawyer.

      Capital Markets: Securitisation respondentEurope

    • She is a very client-focused lawyer who is very responsible in bringing things to a conclusion.

      Capital Markets: Securitisation respondentEurope
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  • Reinier Dommerholt
    Reinier Dommerholt

    Reinier Dommerholt

    Reinier Dommerholt's practice encompasses advice on covered bond programmes, RMBS transactions and loan portfolio transfers, with his expertise drawing support from significant financial institutions.

    • Reinier Dommerholt is a knowledgeable and experienced lawyer. He is a calm presence and makes sure to advise on details, but also knows how to distinguish the main issues from the minor issues.

      Capital Markets: Securitisation respondentEurope

    • Reinier Dommerholt offers a lot of experience.

      Capital Markets: Securitisation respondentEurope
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Ranked Individuals at NautaDutilh (8)

Netherlands

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