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Capital Markets - Debt

William Fry has one of the largest and most experienced debt capital markets teams in the country.

Our lawyers have worked in major law firms across the globe bringing significant experience and expertise to debt capital markets transactions. Combined with our tax practice, we offer our clients a comprehensive service.

Our clients include originators, managers, dealers, arrangers and rating agencies across a variety of traditional and structured finance products. These include CDO/CLOs, stand alone and multi-issuer repackaging programmes, MTN programmes, PPNs, structured products using collateralised swaps, property and other asset backed securitisations. We also have particular expertise advising issuers and trustees on restructuring and termination of structured finance products.

David Maughan

Partner

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Experience

We have acted on some of the most notable and innovative transactions that came to the market in the last 12 months. These include advising:

Auxmoney, a digital peer-to-peer lending platform for consumer credit in Europe, on its debut securitisation of consumer loans and the issuance of social bonds listed on the ESG segment of Euronext Dublin.
Ardagh Packaging Group Plc launched a bond offering for a total financing of approx. $2,850m to finance the acquisition of a competitor in the metal beverage can manufacturing assets and support locations in Europe, Brazil and the United Sates for an enterprise value of approx. $3.42bn;
Smurfit Kappa Group plc through its subsidiary Smurfit Kappa Acquisitions Unlimited Company issued €500m worth of euro denominated senior notes due 2024;
PSC Eaglewood and Castlehaven with Irish legal and tax advice to on the establishment of a €1bn secured fixed rate note issuance programme to fund the development of Irish property;
OPEN Cleantech on the establishment of a multi-currency secured note issuance programme to provide investors with an opportunity to invest in up to €500m of cleantech and renewable energy projects;
HSBC on a $300m asset backed securitisation for Bank of Communications Financial Leasing, the Chinese aircraft leasing arm of Bank of Communications;
Munich Re on a credit default swap structure utilising a section 110 securitisation company to issue notes and hedge against certain contracts of reinsurance and credit risk on defaults in portfolios of assets;
Catalina Insurance Ireland in relation to a €23.8m bond issued by it to raise additional funds for its Tier 2 solvency ratios;
KEB Hana Bank on the Irish legal, regulatory and tax matters relating to secured notes issued by CWMAA Ireland to funds its acquisition of aircraft;
Ardagh Group on its issuance of $770m and €845m of Senior Secured Toggle Notes due 2023 to raise finance to redeem existing Payment-In-Kind Notes due 2019 and to fund a return of capital to its shareholders;
Barclays in relation to the issuance by INEOS Finance Plc, a subsidiary of INEOS Group Holdings S.A., of €770m of 4% senior secured notes due 2023;