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Rowina Ullner

Dr Rowina  Ullner

Counsel, Capital Markets, Frankfurt

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Testimonial
I advise investment banks and corporates across the debt capital markets. My work includes debt issuance programmes, standalone bond issuances, hybrid bonds, and regulatory capital instruments for banks and insurance companies. Sustainable finance and liability management are also key areas of focus. I enjoy breaking down complex structures into clear, practical advice – and making sure my clients feel confident at every stage of a transaction.

Overview 

Rowina Ullner is a lawyer in Linklaters' Frankfurt office, specialising in debt capital markets. She has been adivising investment banks and corporates on a wide range of transactions since joining the team as an Associate in 2017. Prior to that, Rowina worked at Linklaters alongside her doctoral studies and completed both her legal traineeship (Anwaltsstation) at Linklaters in Frankfurt and her elective station (Wahlstation) with the EDM team in Linklaters' London office.

Rowina's core practice covers debt issuance programmes, standalone bond issuances, hybrid bonds, and regulatory capital instruments for banks and insurance companies. She also advises clients on sustainable finance and liability management transactions.

Experience

  • Allianz: advised the bank syndicate in connection with the issuance of US$1.25 billion in Restricted Tier 1 (RT1) bonds by Allianz SE and on a parallel tender offer in relation to an outstanding US dollar RT1 bond of the company.
  • Vonovia: advised on €2.25 billion Eurobond issuance and on its first Kangaroo bond issuance in the amount of A$ 850 million.
  • TenneT Germany: advised on the establishment of a EUR 35 billion Debt Issuance Programme.

Recognition

Handelsblatt has ranked Rowina as "One to Watch" in Germany since 2022. In 2026, WirtschaftsWoche recognised her as a "Top Lawyer 2026" in capital markets law.

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Thought Leadership

  • Legal developments in banking and capital markets law 2023, together with Marc Trinkaus, Dr. Nicole Rölike and Julia Bhatti, DB Sonderbeilage 2023, pages 45–52.

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