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Dr Stefan Henkelmann

Partner

Stefan advises on a wide range of capital markets transactions with a focus on structured finance and debt capital markets. 

He specialises in advising on securitisations – covering true sale, secured loan and synthetic structures across a broad range of asset classes – and other structured finance and derivatives transactions including repackagings, secured notes, strategic equity and non-performing loan transactions. Another focus of his practice are bond transactions including Pfandbriefe, covered bonds, structured notes, hybrid and corporate bonds and bond restructurings. Stefan has also broad experience in advising on all related regulatory and insolvency law matters. He is widely recognised as one of Germany’s leading capital markets lawyers.

Stefan works with major international clients, including banks, financial institutions, asset managers, corporates, originators and investors, across jurisdictions and in multiple sectors, including in particular financial services, real estate, infrastructure, energy and alternative investments.

He is a lecturer for capital markets law at the Institute for Law and Finance of the Goethe-Universität Frankfurt am Main and a frequent author of publications on capital markets law topics and new and emerging developments in this field. Stefan frequently speaks at industry conferences and gives training sessions for clients and market participants.

Experience

Representative matters

Corestate Capital Holding S.A., an investment manager and co investor with assets under management of around EUR 13.2 billion in its core business, on its successful restructuring. Under this highly complex multi-jurisdictional bond restructuring, financial liabilities under outstanding notes were reduced from EUR 535 million to EUR 143 million and the equity base received a substantial boost through recapitalisation (2023).

An international investment bank as arranger and noteholder on an innovative asset-backed securities transaction involving a EUR 125 million multi-jurisdictional dealer floorplan financing for Europe’s leading digital automotive platform for buying and selling used cars (2023).

An international private equity firm as investor in a EUR 3 billion regulatory capital relief (SRT) synthetic securitisation involving a credit linked note (CLN) transaction with a major German credit institution as originator (2023). This landmark transaction was one of the largest CLN synthetic securitisation transactions in the German market recently.

A Romanian financial institution forming part of a German financial institutions group as originator on its EUR 370 million inaugural synthetic securitisation (SRT) transaction with a multilateral development bank (2021) and on a recent EUR 335 million repeat SRT transaction (2023). The original transaction was the first synthetic securitisation of this kind in Romania.

Pro bono

Lecturing capital markets law at the INSTITUTE FOR LAW AND FINANCE of the Goethe-Universität Frankfurt am Main on a pro bono basis.

Published Work

  • Henkelmann/Scharnke (2023) “International Comparative Legal Guide – Securitisation 2023”, Germany chapter. 
  • Henkelmann (2023) “The International Capital Markets Review”, Germany chapter. 
  • Behrens/Henkelmann/Schadtle (2020) “Global Legal Insights – Fintech”, Germany chapter. 
  • Kunschke/Henkelmann (2019) “Global Legal Insights – Blockchain & Cryptocurrency Regulation”, Germany chapter. 

Speaking Engagements

  • Guest Speaker, TSI Training Legal & Documentation in Securitisation, Synthetic Balance Sheet Securitisation, February 2024 
  • Guest speaker / Moderator of panel discussion, Infrastructure and project finance for mobility and energy transition – the bulk of financing sustainable transformation, TSI Congress, September 2023. 
  • Guest speaker / Moderator of panel discussion, TSI Workshop, Transparency & Disclosure in EU Securitisations – Requirements, Experiences and Current Developments, Importance of Transparency & Disclosure for Securitisations, May 2023. 
  • Guest Speaker, TSI Training Legal & Documentation in Securitisation, Synthetic Balance Sheet Securitisation, May 2023. 

Leadership Positions And Professional Affiliations

  • Faculty Member (Lecturer) and Member of the Donors’ Committee of the INSTITUTE FOR LAW AND FINANCE of the Goethe-Universität Frankfurt am Main.
Recognition
Very active and present in the industry, high-quality and very good to deal with.
CHAMBERS GLOBAL 2022
Frequently recommended for Bonds and Structured Finance
JUVE HANDBOOK 2023/2024

Awards

  • “Germany’s Most Recommended Lawyers for Capital Markets Law – Top Lawyer Capital Marktes Law 2024”, WirtschaftsWoche/HRI 2024. 
  • “Leading Individual in Structured Finance”, Legal 500 Germany, 2024. 
  • “One of Germany’s Top 10 Influential Leaders in Capital Markets: Structured Finance in 2023”, Business Today Lawyers Awards, 2023. 
  • “Best Lawyers in Germany 2023” for Capital Markets, BEST LAWYERS / HANDELSBLATT 2023. 
  • “Lecturer of the Year” 2018, 2020, 2022, INSTITUTE FOR LAW AND FINANCE of the Goethe-Universität Frankfurt am Main.

Qualifications

Admissions

Germany, Frankfurt Bar, 2003.

Academic

Dr iur (Doctor iuris / Doctor of Law), Julius-Maximilians University of Würzburg, Germany, 2008.

Second German Law Degree, Higher Regional Court (OLG) of Bamberg, Germany, 2002.

First German Law Degree, University Würzburg, Germany, 2000

Languages

English, German
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.