David Ballegeer

David is widely regarded as one of Belgium’s leading banking and capital markets lawyers. He advises corporates, sponsors and financial institutions on the full spectrum of finance transactions, including project financing, acquisition financing, bond issuances, private placements, convertibles, hybrid issuances, regulatory capital and equity raisings.

David advises many Belgian-headquartered groups across their entire capital structure, as well as banks and underwriters on a broad range of financing transactions.

David advises many clients in the energy and energy transition sector. His practice focuses on complex financings, including bank-bond structures, sustainability-linked and green financings. He also advises corporates and non-EU incorporated groups on the impact of EU ESG legislation, including the corporate sustainability reporting directive and taxonomy.

Work highlights

David has led on many major deals. These include advising:

• Elia Group SA/NV on a €600m inaugural bond issue, €500m hybrid bond and liability management exercise, €300m term loan and €400m bridge financing for the acquisition via WindGrid USA LLC of a stake in energyRe Giga Projects.
• 17 institutional investors and banks on Belgium’s largest PPP project, the €1 bn project financing to the BRAVO4 consortium (comprising Besix, EpiCo, I4B and RID PPP) for the "R4WO" project aimed at rejuvenating the ring road around the port of Ghent.
• Umicore SA/NV, a listed Belgian company active in the global materials technology and recycling sector, on a €499m U.S. private placement of sustainability-linked notes, €600m sustainability-linked revolving credit facility and €180m EV-related guarantee facility.
• Fluvius System Operator CV, the Flemish grid operator for electricity, gas and district heating, on its €5bn guaranteed EMTN programme, inaugural €240m retail green notes issue, various institutional notes issues and bank facilities, and €425m loan from the European Investment Bank to facilitate the energy transition in the Flemish Region.
• Elia Transmission Belgium SA/NV, the Belgian transmission system operator, on a €1.26bn sustainability-linked revolving credit facility agreement, its €6bn EMTN (European Medium Term Notes) programme and €800m green bond issue.
• DPG Media Group NV, a Belgium based media concern active in TV, radio, print and digital, on a €1,250,000,000 term and revolving facility for the acquisition of RTL Nederland, and on its facility from the European Investment Bank to support its digital transformation.
  
   

Work highlights continued:

• UCB SA, a multinational biopharmaceutical company headquartered in Brussels, on the establishment of a retail and wholesale  €5bn EMTN programme, retail issue and €500m institutional notes issue thereunder.
• bpost SA/NV, Belgium’s postal operator and a growing parcel & omni-commerce logistics partner, on the financing of its contemplated €1.3bn strategic acquisition of the Staci group, a European specialist in third-party logistics.
• Jan De Nul NV, a dredging and construction company, on various projects.
• The lenders on the take-private acquisition by TPG Real Estate Partners of Intervest Offices & Warehouses, comprising a €650m guarantee facility and a €525m backstop facility.
• Carrier, ageas, Proximus, Ravago, Shurgard, amongst others, on various ESG matters, in particular relating to the implementation and impact of the EU corporate sustainability reporting directive, and various financing and other transactions.

David leads the Belgian ESG practice. He was instrumental in setting up the firm’s Brussels office’s partnership with UNICEF Belgium.

David studied law at the University of Ghent and economic sciences at the Catholic University of Leuven, and holds a master in tax law from the Catholic University of Leuven as well as a master in law from Harvard Law School.

He speaks English, Dutch and French.