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Structured Finance and Securitisation

The Practice

Arthur Cox has one of Ireland’s leading structured finance and securitisation practices, with an extremely impressive domestic and international client base. The Structured Finance and Securitisation Group advises originators, lead managers, rating agencies, trustees and issuers on a wide range of transactions, including securitisations, CDO/CLO transactions, RMBS/CMBS transactions, repackagings and derivatives.

Arthur Cox has been at the forefront of the development of the Irish securitisation market, acting on the first ever mortgage securitisation in Ireland and the first ever, and only, public CMBS. The Structured Finance and Securitisation Group continues to be a leading adviser on international transactions and advises on the establishment of Irish securitisation vehicles for a wide variety of internationally originated securitisation and structured finance transactions. We also advise on a large number of listings of ABS issued by non-Irish securitisation and structured finance vehicles.

Cormac Kissane (ex Clifford Chance and Sidleys) and Glenn Butt (an ex Allen & Overy Capital Markets partner) are the specialist structured finance and securitisation partners within the Structured Finance and Securitisation Group. Between them they hold a wide range of expertise and experience, having extensive experience as lead lawyers at major international law firms.

The strength of our tax practice, headed by Conor Hurley (ex Linklaters partner), and including senior tax partner, Caroline Devlin and partner, Fintan Clancy (ex Skadden), is integral to the success of our Structured Finance and Securitisation Group.  We work extremely closely with our Tax Group and they play a significant role in all of our securitisation and structured finance transactions.

We have a specialist business dedicated to advising clients on the listing of debt securities on the Irish Stock Exchange. Arthur Cox Listing Services (ACLS) has been tremendously successful and Director of Listings Helen Berrill (ex Irish Stock Exchange) heads up the listing team. Clients benefit from the one-stop shop offered by our Listing Services and Structured Finance and Securitisation Groups.  ACLS advises European, US and Russian clients on the listing of a wide range of debt products including high yield debt, MTN programmes, CDOs, CLOs, securitisation, US shelf programmes and exchange offers.  ACLS listed the first Islamic Finance programme on the Irish Stock Exchange.  ACLS, in combination with lawyers from the Structured Finance and Securitisation Group, also advises on the application of the Prospectus Directive, Market Abuse Directive and Transparency Directive from a listing perspective.

We also work closely with our Financial Regulatory Group when advising issuers, banks, financial institutions and other businesses on Irish regulatory and compliance issues. We have particular experience in advising clients on market abuse and related issues, regulatory capital treatment of securities and transactions and issues relating to the conduct of investment business in Ireland.

We believe the unrivalled strength of our structured finance and securitisation work and our tax, regulatory and listing capabilities gives us an edge over our competitors and makes Arthur Cox the market leader in this area.