Freshfields Bruckhaus Deringer has bagged a lead role on Siemens’ recent placing of Europe’s largest corporate hybrid bond.

Freshfields is advising Deutsche Bank and UBS as joint book runners and structuring advisers to Siemens on its EUR900m and £750m hybrid bonds.

Freshfields’ corporate and finance partner Rick van Aerssen told The Lawyer: “We won this mandate because of our strong relationship with Deutsche Bank and UBS. This deal underlines that Freshfields is leading the pack in hybrid finance in Germany.”

The deal is the firm’s seventh benchmark hybrid fundraising this year and has an aggregate value of approximately EUR2bn, eclipsing the market’s previous largest corporate hybrid bond, a EUR1.7bn deal by Danish Oil and Gas.

Clifford Chance advised long-term client Siemens, which it recently advised on the €16bn (£10.97bn) merger of Nokia and Siemens’ network businesses