Structured Finance and Derivatives
About the Group
The Structured Finance and Derivatives Group advises international financial institutions and corporations involved in arranging and executing structured finance transactions both in and through Ireland.
The nature of such transactions usually involves advising on each of the taxation, banking and financial services and capital markets elements of cross-border structures and results in our working closely with arrangers, originators and law firms in jurisdictions throughout the world.
Our Structured Finance and Derivatives Group has enjoyed a pre-eminent reputation in arranging structured finance transactions ever since our involvement in drafting the original securitisation legislation enacted in Ireland and subsequently advising in relation to the first securitisation of international assets through Ireland.
We are recognised as first in Europe for advising issuers in debt capital market transactions for four years running (Thomson Financial, 2005 - 2008), and we are ranked as one of the leading securitisation law firms in Ireland (European Legal 500, 2006 - 2010).
We are the only Irish law firm to have a dedicated Structured Finance and Derivatives Group. The Group draws on the specialist skills and technical expertise of lawyers from the Tax Department, the Banking and Financial Services Department and the Capital Markets Group. It is the pooling of these diverse skills in a practical and innovative manner that enables us to maintain and develop our leading position in the international structured finance market. We have advised on a wide range of structured finance arrangements, including:
- traditional receivables securitisations of various asset classes
- synthetic credit derivative based structures
- collateralised debt obligation structures
- securitisation programmes funded by issuing commercial paper
- repackaging programmes funded by innovative debt issues
- legal, regulatory and tax arbitrage structures
- total return swap structures
- off-balance sheet warehousing arrangements
Please click here to access our Structured Finance brochure
Representative Transactions
- acted on the structuring and implementation of an innovative risk sheltering transaction involving the transfer of a portfolio of securities valued at approximately €23 billion from German Landesbank, WestLB to an Irish incorporated special purpose vehicle (SPV)
- advised Dresdner Kleinwort as the joint arranger and lead manager on the issuance of the first ever sterling denominated commercial real estate CDO transaction called Glastonbury Finance 2007-1 plc valued at approximately Stg£354 million
- advised BNP Paribas and Omega Capital Investments plc on the issuance of their first multi-maturity synthetic CDO valued at approximately €260 million
- advising Deutsche Bank in relation to the establishment of a €10 billion repackaging programme
- advising Merrill Lynch in relation to the structuring of the largest static CDO in Europe
- advising Westdeutsche Landesbank in relation to a unique securitisation of commercial intellectual property
- advising Deutsche Bank in relation to the structuring of the first real CDO backed by private equity
- advising HypoVereinsbank and IKB Deutsche Industriebank in relation to the first Promise (Programme for Mittelstand) synthetic securitisation transactions
- advising BNP Paribas in relation to the €3.25 billion Euroliberté synthetic CDO
- advising Deutsche Bank in relation to repackaging Turkish debt instruments for sale to the Danish retail market
- advising KBC Bank of Belgium in relation to a synthetic CLO transaction which transferred the risk on a €4.3 billion pool of corporate loans