Practice Areas
Oliver Dreher, LL.M. (King’s College), is a partner in Dentons’ Frankfurt office and Head of the Debt Capital Markets (DCM) practice group in Germany.
His main areas of expertise include corporate, bank and sovereign bonds, MTN-, CP- and structured issuance programmes, structured finance products, Schuldschein loans and registered bonds (Namensschuldverschreibungen) and derivatives.
Oliver Dreher also extensively advises on regulatory matters related to the aforesaid products, as well as on financial restructurings involving bonds, (Schuldschein) loans and derivatives.
One particular focus area of Oliver Dreher is advising on green/sustainable financing products, such as green bonds and Schuldschein loans, and on financings in the energy/infrastructure areas, including project financing bonds.
Oliver Dreher also provides for extensive experience in advising on financial infrastructure, such as the clearing and settlement of financial instruments.
Experience
• Landesbank Baden-Württemberg (LBBW), Erste Group Bank AG and J.P. Morgan SE: Advising as Joint Lead Manager on the placement of the debut benchmark Pfandbrief of Sparkasse Pforzheim Calw with a total volume of €500 million.
• Sociéte Générale, BNP Paribas und Crédit Agricole: Advising Société Générale, BNP Paribas and Crédit Agricole Corporate and Investment Bank as joint arrangers on the debut ESG-linked Schuldschein loan (promissory note) placement for Agrial Group.
• Bayerische Landesbank: Advising Bayerische Landesbank in connection with the renewal and STEP label authorization of the €2 billion Commercial Paper Program of METRO AG.
• Finance Agency: Advising on the issuance of the US$4 bn bond of the Federal Republic of Germany in 2009.
• HSH Finanzfonds AöR: Advising the Joint Lead Managers on several bonds with a total nominal value of several billion euros.
• FMS Wertmanagement: Advising on establishment and extensionof the European Commercial Paper / Certificates of Deposit program.
• Nord / LB: Advising on establishment of the G-MTN refinancing program guaranteed by the states of Lower Saxony and Saxony-Anhalt.
• Eurex Clearing AG: Advising on several strategic projects in the field of financial infrastructure, including on the Individual Clearing Model, OTC Derivatives Clearing and Securities Lending Offer.
• Deutsche Bank AG, Société Générale and others: Advising on updates of, and issues under, EnBW’s €7 billion Debt Issuance Programme, including EnBW’s benchmark Green Bond in 2018.
• Acciona: Advising the Spanish renewable energy specialist on their “green” Schuldschein in 2019.
• Commerzbank as arranger (as well as the participating dealers): Advising on the update and increase of Continental AG’s €1.5 billion Commercial Paper Programme.
• Telefónica Deutschland: Advising on the placement of several benchmark bonds with a total nominal value of several billion euros.
• Bayerische Landesbank, Commerzbank Aktiengesellschaft and Deutsche Bank Aktiengesellschaft: Advising the Joint Lead Managers on the placement of Sixt SE’s for €250 million bond issuance in 2018.
• Bayerische Landesbank and dealer consortium: Advising on Deutsche Sparkassen Leasing’s €1 billion Commercial Paper Programme.
• Loan Markets Association (LMA): Member of Schuldschein loans working group (user guide and model contract).
• ENCAVIS (formerly Capital Stage AG): Advising on (i) its debut Schuldschein transaction (Schuldscheindarlehen) and (ii) its debut €150 million profit participation transaction with a large insurance company
• European Bank for Reconstruction and Development (EBRD): Long-standing advice on Schuldschein loan investments.
• Axpo Group: Advising on the placement of its debut EUR registered bond (Namensschuldverschreibung).
• Eurogrid GmbH (50hertz): Advice on its debut registered bond (Namensschuldverschreibung).
