Securitisation and Structured Finance

Our Securitisation and Structured Finance team is recognised as a leading adviser in the Irish market. We work with international arrangers, originators, administrators and trustees, offering an integrated service that includes expertise from our Tax, Financial Services and Real Estate teams.

We advise on a broad range of cross-border securitisation, receivables financing and repackaging transactions involving diverse asset classes. Our team has significant experience of advising on CDOs, CLOs, MTN programmes, commercial paper programmes and covered bonds.

We offer unique expertise in international non-performing debt repackaging – through our work with major international groups we have earned a reputation as the leading Irish adviser on these issues. Our structured finance team also acts for many of the leading private equity, distressed debt and buyout funds in structuring and executing structured finance transactions through Ireland.

The extensive legal and tax expertise within our Securitisation and Structured Finance team plays a key role in Dillon Eustace’s structured finance practice. The firm has developed a very strong reputation globally in this practice area – notably in Japan and other parts of Asia – and we advise on the structuring and implementation of a variety of bespoke tax-efficient financing and investment structures.

International industry recognition for our securitisation practice includes winning the IFLR Asian Securitisation Deal of the Year several times, and the ISR Deal of the Year.

Representative transactional experience includes acting for and advising:

• A Danish credit fund on the DKK 2bn issuance of asset-backed notes under Irish law by an Irish special purpose vehicle and listed on the Irish Stock Exchange.
• A consortium of global financial institutions and private equity funds on a programme to acquire and finance USD 5bn of consumer loans from the first – and one of the largest – marketplace lending platforms in the US.
• A leading alternative investment firm on a USD 100m multi-jurisdictional consumer loan receivables financing via an Irish special purpose vehicle (SPV).
• Lone Star as the originator in the €1.34bn Bluebonnet Finance plc securitisation of German non-performing loans.
• SGAM Banque and SGAM Alternative Investments on a USD 200m securitisation of structured finance assets (CDO) and a USD 200m market value collateralised fund obligation (CFO).
• Citigroup Global Markets on the establishment of its CABS Programme, a multi-jurisdictional structure for the securitisation of trade loans and the world’s first rated securitisation of trade loans.