Pim Horsten

Pim heads the Debt Capital Markets practice in the firm’s Amsterdam office. He is qualified as an advocaat in the Netherlands and a solicitor in England and Wales. With a Finance MBA and first-hand experience of investment banking, Pim acts for underwriters and issuers, focusing on debt capital markets transactions across the products’ range, from straight debt programmes and issuances via equity-linked and corporate hybrid issues to bank and insurance regulatory capital products.

Pim joined Linklaters in 2004 as its first Dutch partner to establish the Dutch law practice in the Amsterdam office. Before becoming a lawyer, Pim worked for five years in investment banking, at Dutch merchant bank MeesPierson in its Amsterdam and London offices, focusing on corporate finance and capital markets.

Work highlights

Pim has been advising on a variety of capital markets deals. Examples include:

• NN Group: advising on the IPO
• ING: advising on its debt capital markets funding (programmes) and regulatory capital issues
• Achmea, Aegon, ASR, Athora, NN, Rabobank, Triodos Bank: advising on bank or insurance regulatory capital issues
• KPN, Eneco, TenneT, FrieslandCampina: advising on corporate hybrid issuances
• the Dutch State, NN, Rabobank, de Volksbank, Heineken, JDE Peet’s, KPN, TenneT, FrieslandCampina, Universal Music Group, Wolters Kluwer: advising on commercial paper or medium term note programmes and debt issuances
• the Dutch State: advising on the debut and second U.S. dollar bond issuances

Pim is the former editor-in-chief (hoofdredacteur) of the leading Dutch financial law review (Tijdschrift voor Financieel Recht). He teaches Financial Law in the professional education programme of the Dutch bar (Law Firm School) and the Primary Markets module in the Financial Law programme of the post-academic Grotius Academy in Nijmegen.

Pim studied Dutch civil law at the University of Leiden and then for an MBA at the Rotterdam School of Management, including an exchange term at The Wharton School of the University of Pennsylvania, USA, focusing on finance. He qualified as a solicitor in England and Wales through the College of Law, London, QLTT.

He speaks Dutch, English and German.

Selected articles Pim has written (mostly in Dutch) include:

• Credit Suisse, de aandeelhouder en de obligatiehouder, Ondernemingsrecht 2023/91, afl. 15, p. 644-657 (on bank capital and bail-in)
• Afwikkeling en faillissement van banken: over voorrechten, (wettelijke) achterstellingen en verificatie van na faillietverklaring aangroeiende rente, Ondernemingsrecht 2022/84, afl. 15, p. 595-609 (on bank capital, resolution, insolvency and ranking of claims)
• Light disclosure regime for secondary issuances, in: Prospectus Regulation and Prospectus Liability, Oxford University Press, 2020, p. 243-266
• Niet-preferent concurrent, ofwel lager in rang maar niet achtergesteld, Maandblad voor Vermogensrecht, 2020, nr. 11, p. 401-407 (on eligible liabilities and non-preferred senior)
• Coco’s, Ondernemingsrecht 2015/65, afl. 9, p. 335-342 (on bank capital instruments)
• Bouwstenen van kapitaalinstrumenten, in Lustrumbundel 2012 Vereniging voor Effectenrecht, Serie vanwege het Van der Heijden Instituut deel 113, p. 379-388 (on regulatory capital instruments)
• Totstandkoming van transacties in de primaire markt, in Lustrumbundel 2002 Vereniging voor Effectenrecht, Serie vanwege het Van der Heijden Instituut deel 71, p. 159-170 (on contractual aspects of primary markets transactions)
• Obligatieleningen (delen I en II), Bank- en Effectenbedrijf, juni 1999, p. 42-45, en juli/augustus 1999, p. 44-48 (on bond issues)