A&L Goodbody LLP has a fine record in handling equity and debt capital markets transactions. Key areas of instruction include high-value debt transactions and structured finance matters, and the department has seen an increase in matters involving private equity and hedge fund-linked structuring. The firm is also at the forefront of residential mortgage-backed securities (RMBS) transactions. Peter Walker heads up the debt capital markets (DCM) and structured finance group, in which Ciarán Rogers, Adrian Burke and Jack Sheehy stand out as key practitioners, and is home to emerging talents Sinead O’Connor and Michelle Daly. The equity capital markets (ECM) group is led by Paul White, and is often instructed in work involving initial public offerings (IPOs) and Irish businesses listing and raising capital on the New York Stock Exchange (NYSE). Charles Carroll is a key name for equity matters, and Jennie Quirke is ‘very diligent and responsive‘. Eoin Shiel has joined the equity capital markets group.
Capital markets in Ireland
A&L Goodbody LLP
Practice head(s):
Peter Walker; Paul White
Other key lawyers:
Ciarán Rogers; Sinéad O’Connor; Adrian Burke; Peter Murray; Jack Sheehy; Charlie Carroll; Alan Casey; Ronan Lyons; Michelle Daly; Eugenée Mulhern; Deirdre Geraghty; Jennie Quirke; Eoin Shiel
Testimonials
‘Best in class on loan sales and securitisations.’
‘The team always deliver. We like their approach of talking us through their advice directly to allow us to ask questions and truly understand the advice before following up with detailed notes that we can then refer back to. The team is stable and we have had the same contacts for some years now which enhances our experience and comfort levels with the team who know us really well at this stage.’
‘Jennie Quirke is very diligent and responsive. If we miss each other, she always follows up and makes sure we have what we need. Paul White and Charlie Carroll are also extremely knowledgeable and able to provide efficient advices.’
‘Very knowledgeable around securitisation processes and therefore a good fit with what we required.’
‘Friendly, time for a laugh, pragmatic when required.’
‘They work as a real team, providing the customer a solution for all Irish regulatory, mercantile and tax issues.’
‘Peter Walker: very significant experience in Irish issues and in particular in transactions related to English Law. He guides customers in a pragmatic way while maintaining very solid legal excellence.’
Key clients
Prothena Corporation plc
RVL Pharmaceuticals plc
Cairn Homes plc
Glenveagh Properties Plc
Corre Energy BV
Malin Corporation plc
Oneview Healthcare plc
Perrigo Company plc
Jefferies LLC
Glantus Holdings plc
Work highlights
- Advised Permanent TSB and Fastnet Securities on a securitisation structure matter.
- Acted as Irish counsel to the issuer and joint investment managers on the establishment of a multi-currency gold-backed ETC programme governed by Irish law and approved by the Central Bank of Ireland.
- Acted as lead counsel to the Bank of Ireland on its disposal of an Irish non-performing loan portfolio with an approximate value of €800m.
Arthur Cox
Arthur Cox's broad practice takes in debt capital markets, structured finance and securitisation work; CLOs are another established area of expertise for the firm. Cormac Kissane, Aiden Small and Glenn Butt are leading figures in debt matters, while Phil Cody focuses on derivatives work and Peter Murphy is 'a real star' in the space. On the equity side, the firm is well known for its strength in advising on IPOs and listed company restructurings, and has been handling an increased number of de-SPAC transactions. Maura McLaughlin, Cian McCourt, Stephen Ranalow and David Vos are key partners in the equity space, and of counsel Sinéad Crowley 'inspires confidence and manages transactions with impressive skill'.
Practice head(s):
Aiden Small; Cian McCourt
Other key lawyers:
Cormac Kissane; Glenn Butt; Phil Cody; Maura McLaughlin; Stephen Ranalow; Chris McLaughlin; David Vos; Aisling Kelly; Conor McCarthy; Sinéad Crowley; Peter Murphy; Brendan Kennedy
Testimonials
‘I deal mainly with Phil Cody. He is an excellent lawyer, highly responsive and very creative in his solutions to complex legal and regulatory matters. We recently completed a large intercompany transaction and without his input and expertise it would have taken a lot longer to execute which would have presented a huge opportunity cost to my firm. A superb performance.’
‘Best in class equity capital markets and securitisation expertise with deep teams of knowledge and experience.’
‘Peter Murphy is a real star. Super smart. Great to work with. Really understands the deals and provides timely and commercial input. I would recommend him to anyone. ’
‘Maura McLaughlin is an incredibly impressive operator. She is technically excellent, but I most value her ability to quickly get to the core of any issue and suggest practical solutions. She provides tactical advice which considers matters from all angles, not just the legal ones. Stephen Ranalow is a consummate advisor. He brings a wealth of experience and often suggests novel and inventive approaches to deal with problems. Sinéad Crowley is an excellent advisor who always knows the exact detail even when there is a huge volume of work going on. She inspires confidence and manages transactions with impressive skill.’
‘Very strongly client focused with a clear objective to deliver effective solutions in the most efficient manner. Excellent cooperation and coordination of advice and solutions across specialist teams. Committed to excellent service and to resolving issues when they arise. All staff are pleasant to deal with and even fun to interact with. They are always available in crisis. The firm places a strong emphasis on individual career development and growing its own future partners from trainees onwards so staff are immersed in the firm’s culture which has endured for the almost 40 years I have been dealing with the firm.’
‘Aiden Small (partner) and Brendan Kennedy (associate) are a fantastic duo in the CLO space – responsive, commercial and excellent market knowledge.’
‘Personable and responsive, practical and super easy to deal with. Great internal bench strength on regulatory matters as well.’
‘Excellent responsiveness and ability to explain matters very clearly. Top notch service. ’
Key clients
Goldman Sachs
Morgan Stanley
Citigroup
Bank of America
Credit Suisse
Bank of Ireland
Lone Star
CarVal
M&G
KKR
Blackstone
Partners Group
DWS International
Carlyle
Oaktree Capital Management (Credit)
Alcentra
ADS-TEC Energy plc
Alkermes plc
Allegion plc
Angel Pond
Applegreen plc
Avadel Pharmaceuticals plc
Bank of Ireland plc
Brookfield Asset Management
Beyond Air, Inc.
Concord Acquisition Corp.
Cowen Inc.
CRH plc
Dole plc
Eaton Corporation
European Sustainable Growth Acquisition Corp.
Flutter Entertainment plc
Fusion Fuel Green plc
Glanbia plc
Grafton Group plc
Greencore Group plc
Kerry Group plc
Jeffries, LLC
Johnson Controls International plc
Linde plc
Live Oak Acquisition Corp. II
Mallinckrodt plc
Medtronic plc
nVent Electric plc
Pentair plc
Seagate Technology plc
Strongbridge Biopharma plc
Trane Technologies plc
Matheson LLP
Matheson LLP is a leading firm in the DCM, structured finance and securitisation arena, with an excellent track record in advising on several headline matters in the debt capital markets space. Turlough Galvin is a key figure in DCM work; other key names include Richard Kelly, William Foot and CLO expert Christian Donagh, who also handles structured finance, securitisation and repackaging programmes. Micheál Buckley is also singled out for his expertise in the DCM arena. On the ECM side, the department continues to handle a steady workflow of transactions, and is particularly well known for its expertise in de-SPAC transactions. George Brady, David Jones, Fergus Bolster, and David Fitzgibbon are key partners in equity matters. Eoin Shiel and Niamh Sheerin have left the firm.
Practice head(s):
David Fitzgibbon; Turlough Galvin
Other key lawyers:
Patrick Molloy; Christian Donagh; Fergus Bolster; George Brady; Richard Kelly; Madeline McDonnell; Susanne McMenamin; David Jones; William Foot; Micheál Buckley; Alan Keating; Caroline Kearns; Alan Bunbury
Testimonials
‘ The practice is unique in how it aligns with the in-house team here. They are always looking ahead, not just at issues raised specifically with them. ’
‘Caroline Kearns is a stand out lawyer. Caroline looks beyond the issues raised to identify and address risks other than those raised specifically. Very safe hands. ’
‘Hugely knowledgeable and responsive team for Irish law securitisation vehicles and capital markets. Go to firm and team in Ireland.’
‘Alan Keating and Micheál Buckley are outstanding to work with. They have excellent knowledge of Irish legal matters and are always very responsive and generate high quality work product. ’
‘The team members at Matheson that we have worked with have always shown themselves to be very approachable and responsive to any queries we may have and come back with clear direct advice within a very short timeframe. ’
‘Christian Donagh and Alan Bunbury are stand-out partners in their field. They are always available, commercial, and excellent managers of their clients.
‘Richard Kelly stood out to me for the approach that he championed. Richard was also extremely personable and responsive, always responding quickly even out of hours. Richard consistently provided pragmatic solutions that helped us navigate from where we were (a problem with no solution) to an excellent outcome of an instrument that we could softly test with investors and deliver swiftly and cost effectively.’
‘The Matheson Capital Markets team has a huge amount of experience in all types of capital markets transactions, delivering advice in a timely manner and always available to discuss matters at short notice. Their responsiveness is excellent. Matheson ranks top for Capital Markets in Ireland.’
Key clients
Aegon Asset Management
Albacore Capital LLP
Alantra Corporate Portfolio Advisors, S.L.
Ally Financial
Anchorage
Andbank
Ares Management
Arini Capital
Audax Group
Banco Santander
Barclays Bank
BlackRock
Blackstone Credit
Cerberus
Chenavari
Citibank
Credit Suisse
Dell Bank
Deutsche Bank
Fidelity
Funding Circle
Goldman Sachs
Hayfin Capital Management
JPMorgan
Macquarie
Natixis
Oaktree
Onate
Sculptor Capital Management
Société Générale
Sound Point Capital Management
Stenn International
UBS
UniCredit
WisdomTree
Work highlights
- Acted for MariaDB in relation to a SPAC matter.
- Advised ProKidney on an Up-C de-SPAC transaction.
McCann FitzGerald LLP
McCann FitzGerald LLP has a highly developed DCM practice, which is widely respected for its strength in handling covered bonds, green bonds, social bonds, securitisations, and OTC and exchange traded derivatives; the ‘highly impressive‘ Judith Lawless has established expertise in derivatives matters. Fergus Gillen, Adrian Farrell and Hugh Beattie have excellent reputations in DCM, securitisation and structured products, and Éamon Ó Cuív, who has returned to Dublin from the London office, garners praise for his ‘meticulous attention to detail‘. Sarah Pickering is a rising star in the debt capital markets space. ECM mandates remain prominent in the group’s workload, and David Byers and Stephen FitzSimons are key figures in equity deals. Gill Lohan is singled out for her expertise in IPOs. Aidan Lawlor and Conor O’Dwyer left the firm in 2024.
Practice head(s):
Fergus Gillen; Stephen FitzSimons
Other key lawyers:
Fergus Gillen; Adrian Farrell; Judith Lawless; Hugh Beattie; Éamon Ó Cuiv; David Byers; Gill Lohan; Sarah Pickering
Testimonials
‘The team assisted us with a large, strategically important project and were a fantastic support throughout. The team were responsive, well-organised and competitive on pricing.’
‘Fergus Gillen was a brilliant support to us. He was proactive and pragmatic. His advice was always clear, concise and commercially focussed.’
‘The team is very client focussed and knows our business really well – they really know what is and is not important commercially for us. We really value the continuity of of people over many years.’
‘Adrian Farrell in particular stands out, he is extremely responsive, always provides top quality advice and it really helps us that is is well known and respected in the market.’
‘Judith Lawless is a highly impressive lawyer. Her knowledge of the subject matter is boundless and her response times are excellent.’
‘We consistently instruct Éamon Ó Cuiv of McCann Fitzgerald to advise on our debt finance transactions on account of his expertise, meticulous attention to detail, and his unwavering commitment to having a granular understanding not only of the transaction, but of the wider needs that we have as a client.’
‘Hugh Beattie – nothing fazes him and he has a complete appreciation of what is being asked of him. Fast turn-around on documentation too.’
Key clients
Debt Capital Markets
Allied Irish Banks p.l.c. /AIB Mortgage Bank
Andorra Bank Agricol Reig, SA (Andbank)
Barclays Bank PLC
Eaton Corporation and related companies
BNP Paribas
Morgan Stanley
Intesa Sanpaolo Bank Ireland p.l.c.
Prodigy Finance
Electricity Supply Board
Avenue Capital Management
Nomura International plc
International Swaps and Derivatives Association Inc.
Investcorp
Citibank
No Limit Capital LLP
Equity Capital Markets
Kingspan Group Plc
Kerry Group Plc
Kenmare Resources Plc
Greencoat Renewables Plc
C&C Group Plc
AIB Group Plc
Irish Residential Properties REIT Plc (I•RES REIT)
Datalex Plc
Hostelworld Group plc
Origin Enterprises Plc
Hammerson plc
Goldman Sachs
J&E Davy
Goodbody Stockbrokers
Trinseo PLC
Alkermes plc
Work highlights
- Acted as lead counsel to Deutsche Bank on the MBS of a portfolio.
Walkers
Walkers has a highly rated practice in CMBS and CLOs, and is also at the forefront of insurance linked securities (ILS) and catastrophe bonds. The department is also highly regarded for handling securitisations and significant risk transfer (SRT) issues. Andrew Traynor brings over 20 years of experience in structured finance and securitisation work, notably in risk transfer transactions and bank capital management matters. Ian McNamee is another key figure in securitisation work, and Noeleen Ruddy and Paddy Rath are singled out for their expertise in CLOs.
Practice head(s):
Andrew Traynor; Noeleen Ruddy
Other key lawyers:
Ian McNamee; Paddy Rath
Testimonials
‘Very knowledgeable, reliable, solid expertise, proactive in running independently with counter law firms.’
‘We regularly work with Walkers to advise on issues related to Irish counterparties, as well as for issues affecting an Irish affiliate of ours. Their ability to provide comprehensive, holistic, thoughtful and prompt advice is a distinguishing feature of their practice area.’
‘Andrew Traynor has regularly been the primary advisor we’ve turned to. He has been responsive, thoughtful, clear and commercial and it has led to a very helpful advisory relationship.’
‘The individuals are easy to work with and committed to delivering.’
‘Very broad client base, which enables them to provide good industry standard advice.’
‘All outstanding individuals.’
‘Very responsive, commercial and helpful with great knowledge of the market. They know the product area very well and our business and are great to deal with.’
‘We have a consistently good experience with Paddy Rath. He provides commercial advice and is extremely responsive.’
Key clients
Acer Tree Investment Management
Accunia
Aeon CRE UK 1 Designated Activity Company
Albacore Capital LLP
Apex Corporate Trustees (UK) Limited
Apollo Management
Ares Capital Management
Avia Solutions Group
Banco Santander
Banco Santander Totta
Bank of America Merrill Lynch
Bank of America Europe DAC
Bank of America N.A.
Barclays Bank
Barings
Bench Walk Advisors
Bridgepoint Management
Cairn Loan Management
Citibank
Creditshelf AG
Deutsche Bank
Five Arrows (Rothschild)
Hertz Global Holdings Inc.
HSBC Bank plc
Work highlights
- Advised Standard Chartered Bank on a €1.5bn portfolio securitisation.
- Assisted with over 20 CLO transactions, collectively valued at over €8bn.
- Advised Volkswagen Financial Services on its first securitisation in the Polish market.
Maples Group
Maples Group's practice is 'market-leading in the structured finance and securitisation space in Ireland', and is equally strong in handling cross-border work in the capital markets space. The firm is widely recognised for its expertise in advising on CLOs, and the Dublin-based group is often instructed by US, UK, Irish and other EU managers on matters relating to CLO platforms. The department is also prolific in non-performing loan (NPL)-related issues, warehouse lending and repackaging programmes, and is well placed to advise global asset and specialist investment managers on creating specialist Irish SPV issuer platforms. Practice head Stephen McLoughlin brings extensive experience in handling CLOs, RMBS transactions, NPLs and repackaging programmes. Callaghan Kennedy has an excellent track record in assisting with asset-backed securitisations and CLOs.
Practice head(s):
Stephen McLoughlin
Other key lawyers:
Callaghan Kennedy
Testimonials
‘I’ve worked with Maples for a number of years. Compared to other counsel, they have a fantastic overview of the market and therefore are very helpful advising as to new local law matters and how the market is dealing with them, and they do this in an incredibly pragmatic fashion.’
‘Cal Kennedy is stand out – he is key in providing the above mentioned service, and always takes time to personally update on new matters.’
‘I think that Maples Group, considering both the legal and corporate services side, are the #1 choice in the industry and recommend/try to engage them on any transaction where such a party is needed. They know the landscape, regulations, are very competitive from a commercial perspective, and most importantly for these transactions are very timely.’
Key clients
CVC Credit Partners
Palmer Square Capital Management, LLC
Goldman Sachs International
TwentyFour Asset Management LLP
Waterfall Asset Management, LLC
Midcap Financial
Cabot Financial (UK) Limited
Transmission Finance DAC
Goldentree Asset Management
Work highlights
- Advised CVC Credit Partners on the CVC Cordatus Loan Fund XXVI.
- Assisted Twenty Four Asset Management in relation to the UK RMBS Hops Hill No. 2 plc.
- Advised Small Business Loan Origination Trust 2023-1 DAC on its UK STS-compliant SME ABS loans originated on the Funding Circle platform.
Mason Hayes & Curran LLP
Mason Hayes & Curran LLP continues to handle a steady workflow of DCM, structured finance and derivatives work. The department has seen an increase in structured finance matters, as well as in asset-backed securities and secured notes programmes. Daragh O’Shea, who heads up the DCM, structured finance and derivatives practice, 'stands out for his vast experience of debt finance generally and his methodical and proactive approach to problem-solving, and he brings commercial acumen and pragmatism in managing transactions and negotiations'. In the ECM space, led by the 'stand out capital markets partner' Justin McKenna, the group has a solid track record in handling equity deals and IPOs, notably advising Fulcrum Metals on its IPO on the AIM stock exchange. David Mangan left the firm in March 2023.
Practice head(s):
Justin McKenna; Daragh O’Shea
Other key lawyers:
Donna O’Leary; Eoin Traynor; Jamie MacDonald; Andrew Gill
Testimonials
‘Mason Hayes & Curran LLP comes highly recommended because of its professionalism, experience of working in and for private businesses and international financial institutions, commitment, efficiency, proactive approach and deep knowledge of financial instruments and regulatory requirements.’
‘All the MHP team is exceptional, still I would like to stress that Daragh O’Shea and Andrew Gill are always my preferred port of call – professionalism, quality, fast and proactive response and high work ethics.’
‘The team at MH&C listens to the client’s concerns and therefore accurately addresses the issue at hand. When the issue is complex and has many nuances, this is crucial. The team is very responsive, accurate and dependable. The quality of the legal analysis goes without saying. ’
‘The team we work with (which includes Daragh O’Shea, Eoin Traynor and Jamie MacDonald) is very attentive to clients; requests, responsive, proactive and efficient. Quality of advice is superb. The team we can certainly rely on with great confidence.’
‘Justin McKenna is a stand out capital markets partner. He has good knowledge of the law and gives practical and strategic advice. I would highly recommend him.’
‘Eoin Traynor has deep knowledge of the regulations related to structured finance, as well as experienced in advising different issuers to know the best practices. Responsive, rigorous, professional and always available. Eoin is a formidable lawyer, always taking care of response times and the quality of work. Daragh O’Shea is a great expert and vast expertise in the fields of debt capital markets & structured finance. A pleasure to work with him. Vey available and creates a sense of trust. He combines a remarkable commercial sense with outstanding technical skills. Great management of his team. Donna O’Leary: amazing professional with great technical knowledge and high degree of attention to detail. Always available to resolve any issues that are raised quickly and diligently.’
‘Daragh O’Shea stands out for his vast experience of debt finance generally and his methodical and proactive approach to problem-solving. In addition, with his experience of working internationally and in-house, Daragh brings commercial acumen and pragmatism in managing transactions and negotiations. This kind of reliability and practical experience is priceless when dealing with high-stakes matters in the capital markets, and he has effectively acted as our guide to the Irish debt capital markets sector generally. Eoin Traynor: a senior associate who is impressive in his responsiveness and remarkable attention to detail. Whenever a client has questions or concerns, Eoin is quick to address them, providing timely updates and reassurances along the way, which is especially valuable when managing multiple documents in capital markets transactions.’
‘Jamie MacDonald and Andrew Gill have been on hand throughout the delivery of a number of regulatory pieces of work and have delivered exceptionally as and when needed, and at short notice.’
Key clients
MM Capital Limited and Elgin Property Limited
Davy Stockbrokers
J&E Davy
Fulcrum Mining
Normax Ltd.
CIX Capital International DAC
Berenberg
Longspur
Work highlights
- Advised Fulcrum Metals on its IPO.
William Fry LLP
William Fry LLP continues to demonstrate its standing in ECM deals. The team often acts for issuers and underwriters in a range of matters, including advising on accelerated book-build placings and equity transactions. The firm is also home to a solid DCM and structured finance group, which has been kept busy advising on green bonds and social bonds. Mark Talbot and Myra Garrett are very highly regarded ECM specialists, and David Maughan is an established practitioner in the DCM arena.
Practice head(s):
Mark Talbot; Myra Garrett; David Maughan
Other key lawyers:
Brian Butterwick
Testimonials
‘The team are very well prepared, accessible and come up with innovative solutions to issues which arise. They are easy to deal with and provide clear, comprehensive advice pitched at the right level.’
‘Mark Talbot is a pleasure to deal with, with a deep knowledge of the law and its application to our very specific situation. He provides excellent advice with a clear understanding of our requirements, and has an eye to future issues which may arise. Brian Butterwick is a quick and innovative thinker, identifying and resolving unforeseen issues as they arise.’
‘Myra Garrett and Mark Talbot are very capable.’
Key clients
DCC plc
Irish Residential Properties REIT plc
FINEOS Corporation Holdings plc
Smurfit Kappa Group plc
Ardagh Group
Mincon Group plc
Uniphar plc
Yew Grove REIT plc
T Stamp Inc.
Glenveagh Properties plc
Trinity Biotech plc
Conroy Gold and Natural Resources plc
J & E Davy
Veraison Capital AG
Jefferies International
Joh. Berenberg, Gossler & Co. KG
RBC Capital Markets plc
Irish Department of Finance
Goodbody Stockbrokers
Credit Suisse
Shard Capital Partners LLP
BlackRock
Pollen Street Capital
TowerBrook
Smurfit Kappa Group
BNP Paribas
J & E Davy
Credit Suisse
Allianz Global Investors GmbH
British Airways
Deutsche Bank
Lynk Capital Markets
LocalTapiola
auxmoney
Finance Ireland
Serone Capital Management
Dillon Eustace
At Dillon Eustace, the team continues to advise on note issuance programmes, often for financial services clients, as well as tax driven structured finance matters. Practice head Mark Thorne and Conor Keaveny are well known for their expertise in handling structured finance and securitisation mandates.
Practice head(s):
Mark Thorne
Other key lawyers:
Conor Keaveny; Keith Robinson; John-Hugh Colleran; Conor Kiernan
Key clients
Goldman Sachs
FBD Holdings plc
Deutsche Bank AG
Bond Central
AlphaNotes
Eversheds Sutherland
Eversheds Sutherland's team is best known for its strength in advising on ECM transactions, and also counts compliance issues and takeover matters as key drivers of work. The client base includes Goodbody Stockbrokers, a well known company in the Irish capital markets arena. Lee Murphy heads up the practice.
Practice head(s):
Lee Murphy
Key clients
Cathay Securities Corporation
CyrusOne
Goodbody Stockbrokers UC
Investec Bank plc
FEXCO
Liberum Capital
Dublin Port Company
Cairn Homes plc
Hibernia REIT plc
Kingspan plc
Hanover Investors
AWG Holdings plc
Computershare
National Treasury Management Agency
Work highlights
- Acted for Goodbody Stockbrokers on a range of transactional and advisory matters, including capital markets advisory work.
- Assisted Cathay Securities Corporation with the Irish law aspects of the Polaris Group’s IPO on the Taiwan stock exchange.
LK Shields Solicitors LLP
LK Shields Solicitors LLP continues to handle a steady workflow of note issuance programmes. The group has an established track record in assisting fund promoters with the structuring, establishing and listing of SPVs and funds for issuing debt. Practice head David Williams fields extensive expertise in securitisations, and David Naughton is well versed in advising on debt capital markets matters.
Practice head(s):
David Naughton
Other key lawyers:
David Williams
Key clients
Audacia Capital (Ireland) plc
Work highlights
- Advised Audacia Capital (Ireland) on the addition of a number of collateral obligors to the client’s multi-series secured notes programme listed on Irish and Austrian stock exchanges.
- Assisted the client with the establishment of a section 110 special purpose vehicle for the issue of bonds.