Structured Finance and Securitisation
As the leading structured finance and securitisation practice in Ireland, our receivables and asset finance practice offers expertise in structuring and documenting structured finance and asset finance transactions of all types including sustainability-linked finance.
Arthur Cox “maintains an outstanding reputation for its advice to issuers and arrangers on note issuances securitisation transactions.” (Chambers Europe: Europe’s Leading Lawyers for Business, 2023)
We are frequently mandated by domestic and international clients to advise on structured finance and securitisation transactions including collateralised loan obligations (CLOs), synthetic securitisations, SRT transactions, derivatives, trade receivables and asset-based lending transactions.
As well as delivering outstanding technical legal advice we will offer you our market insights, judgement and advice in a commercial context, providing invaluable guidance in your decision-making, planning and management of risk.
Many of the transactions we work on involve the use of Irish SPVs. With respect to the use of SPVs, Ireland is a leading jurisdiction for the establishment of special purpose vehicles SPVs for structured finance transactions and the unrivalled strength of the firm’s Capital Markets, Tax, Financial Regulation and Listing capabilities makes Arthur Cox LLP a market leader in this area.
The predominant reasons for Ireland’s popularity as an SPV location include its developed corporate legal system, the fact that it is an ‘on-shore’ jurisdiction, the professional and administration services that are available locally and its favourable tax regime (which allows structured to be, in most cases, tax neutral (with no material annual minimum profit or ‘spread’ required at the SPV level) and by using the ‘quoted eurobond’ exemption, together with numerous double taxation treaties, allows interest on securities to be paid gross).
In addition to our work on invoice discounting transactions, we have also prepared and assisted in the implementation of the invoice discounting templates for many of the leading providers of invoice discounting in Ireland.
The Arthur Cox Structured Finance and Securitisation team is rated Tier 1 by Chambers Europe, the Legal 500 and IFLR1000.
Global ABS 2023
Arthur Cox was pleased to sponsor Global ABS 2023 in Barcelona. Representatives from our Finance, Tax, and Listings teams were in attendance. You can learn more about our team’s capabilities by browsing our brochure here.
- Advising Bank of America Merrill Lynch and Citibank N.A. on the Irish aspects of various “loan-on-loan” refinancings of the acquisitions by Irish SPVs of European loan portfolios acquired by a major asset manager
- Advising Bank of Ireland in connection with the provision of a term facility and invoice discounting arrangements with a leading Irish warehousing, distributions and freight company
- Advising PNC bank on asset finance facilities to the Tungco Group
- Advising FGI Finance in connection with a receivables financing of an international manufacturing company