Leo Borchardt
  1. Partner

Mr. Borchardt is a partner in Davis Polk’s Corporate Department, practicing in the London office. He has advised large corporations, boards of directors, special committees and investment banks on a variety of significant capital markets, cross-border M&A and other strategic corporate transactions. He also regularly advises clients on corporate governance, reporting and compliance and general corporate matters. Mr. Borchardt is bilingual in German and English.

Work Highlights

Mergers and Acquisitions
  • Reliance Industries Limited in connection with:
    • The establishment of its 51%/49% joint venture with BP relating to their petroleum retail business in India
    • An unprecedented series of capital raisings for Jio Platforms Limited totaling over $10 billion from world leading strategic and financial investors including Google, PIF, Mubadala, ADIA, TPG, Intel and Qualcomm
    • Its agreement to acquire wireless infrastructure assets from Reliance Communications
  • Mereo BioPharma on its combination with OncoMed Pharmaceuticals
  • Telia Company on the:
    • $1.03 billion sale of its holding in Nepalese telecom operator Ncell to Axiata
    • Sale of its interest in Tajik telecom operator Tcell to AKFED
    • Sale of its interest in Afghan telecom operator Roshan to AKFED
  • Technip on its $17 billion business combination with FMC Technologies
  • Bertelsmann in connection with its Penguin Random House venture with Pearson
  • XL Group on the establishment of a joint venture with Stone Point Capital
  • Pattern Energy’s committee of independent directors on the acquisitions of six wind power projects
  • A major European telecom operator on its anchor investment in a VC fund
  • Affiliates of Morgan Stanley in connection with the bankruptcy of Anthracite Capital
  • Sterling Financial on its $2 billion merger with Umpqua and related divestitures
  • Guggenheim on various transactions
  • MSCI in its acquisition of IPD Group
  • ThyssenKrupp on U.S. aspects of the sale of its stainless steel business
Capital Markets

Equity

  • Centogene on its IPO and U.S. listing and its primary and secondary follow-on transaction
  • Mereo BioPharma on its U.S. listing
  • The underwriters on Handicare’s SEK 1 billion IPO
  • The underwriters on CEVA Logistics’ CHF 1.1 billion IPO
  • Boozt on its SEK 1.85 billion IPO
  • The underwriters on Deutsche Bank’s  €8.0 billion (2017), €6.7 billion (2014) and €10.2 billion (2010) SEC-registered rights offerings
  • Scout24 on its €1.2 billion IPO
  • The underwriters on Schaeffler’s €938 million IPO
  • Tele Columbus on its €367 million IPO and €383 million follow-on offering
  • The underwriters on NXP’s $476 million SEC-registered IPO and a $1 billion SEC-registered secondary follow-on offering
  • The underwriters on Erste Group's €1.7 billion rights offering
  • Julius Baer on the spin off of its asset management business
  • HeidelbergCement on its €4.4 billion primary and secondary re-IPO

Debt

  • The underwriters on SEC-registered offerings of regulatory capital by Deutsche Bank:
    • $1.25 (2020) and $1.5 billion (2014) additional Tier 1 (AT1) notes
    • $500 million (2020) and $1.0 billion (2017) subordinated Tier 2 notes
  • SEC-registered notes offerings for AstraZeneca and BBVA (issuer side) and Diageo, Equinor, OeKB, Praxair and Rio Tinto (underwriters side), totaling more than $49 billion
  • Rule 144A notes offerings of Roche and a leading German automobile manufacturer (issuer side) and Yara International and NXP (underwriters side), totaling more than $18 billion

Of Note

  • Fellow, Royal Society of Arts
  • Member, Royal Institute of International Affairs, Chatham House
  • Erasmus Scholar, Institut d’Etudes Politiques de Paris, 2002-2003
  • Visiting Scholar, Max Planck Institute for International Law, Heidelberg, 2006-2007

Professional History

  • Davis Polk since 2008
  • Partner, 2016-present
  • London office, 2009-2012; 2014-present
  • New York office, 2012-2014
  • Frankfurt office, 2008-2009
  • Judicial Clerk, Court of Appeals of Graz, 2008

Bar Admissions

  • State of New York

Education

  • Magister Juris, University of Graz, 2003
    • Book of Honor
    • Second in Class
  • Diploma, Accounting for Lawyers, University of Graz, 2005
  • LL.M., New York University School of Law, 2006
    • Arthur T. Vanderbilt Scholar
    • Frank T. Diersen Prize
    • Vanderbilt Medal for Outstanding Contributions to the School of Law
    • Graduate Editor, NYU Journal of International Law and Politics

Languages

  • German
  • Italian
  • French