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06 March 2017

Dillon Eustace advises consortium in connection with their agreement to purchase up to $5 bln worth of consumer loans

Dublin, 6th March 2017 - Leading Irish law firm, Dillon Eustace, acted as Irish legal and tax counsel, and as Irish listing agent, for a consortium of institutional investors on the structuring and funding of a transaction to acquire up to $5 billion worth of consumer loans over the next two years from U.S. online lender, Prosper Marketplace Inc. Based in San Francisco, Prosper was the first, and continues to be one of the largest, marketplace lending platforms in the U.S. The company’s online lending platform connects people who want to borrow money with individuals and institutions that want to invest in consumer credit.

The transaction was led by partners Conor Houlihan (Head of Banking & Capital Markets) and David Lawless (Head of Tax) supported by a multi-disciplinary team selected from Dillon Eustace’s Banking & Capital Markets, Tax, Regulatory & Compliance, Corporate and Debt Listing departments.

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