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Capital markets
A&L Goodbody recently advised Westfield Group, the world’s largest shopping centre owner/operator, on the $10bn launch of an EMTN programme. On the debt side, Adrian Burke and Ciaran Rogers are ‘immersed in capital markets law’ while Eithne FitzGerald is highly respected on the equity side. Other representative clients include Iberdrola, ICS Building Society and Banco español de Crédito.
Arthur Cox remains a ‘cut above the rest’, say clients. The firm recently advised Barclays Bank as managers of a €6bn long-dated bond issue by the state of Ireland and also advised EBS Building Society on a €2.5bn bond issue by Emerald Mortgages No. 5. Cormac Kissane, Glenn Butt and Richard Ambery are all highly sought-after partners.
On the equity side, Matheson Ormsby Prentice acted for IAWS on its €2.5bn merger with Hiestand and on the listing of ARYZTA (the new parent company of the combined group) on the Irish and Swiss Stock Exchanges. Tim Scanlon is ‘impressively knowledgeable’ and ‘quick to react.’
Clients award McCann FitzGerald the ultimate accolade when they say, ‘there are other good capital markets firms in Dublin but I would select McCanns above them’. Roy Parker and Barry Devereux lead a ‘seamless’ and ‘responsive’ group that recently advised the arranger, Davy and Lazard, on the €153m open offer and placing by Waterford Wedgwood.
Although the equity markets have been quiet this year, William Fry has had its hands full: it advised Waterford Wedgwood on its open offer and placing; Kentz on its €200m IPO; and GPS-Buddy Holdings on its public offer of shares in Sweden, Norway, Iceland and Latvia. Elaine Hanly and Myra Garrett are recommended.
BCM Hanby Wallace receives praise year on the back of success on the pharma side. The firm advised Merrion pharmaceuticals on its admission to trading on IEX and its €8m placing. Hemcon Medical Technologies, CNG Travel Group and Avoca Capital are also recent clients.
In 2008 Dillon Eustace advised AIG on the secondary listing of its common stock on the Irish Stock Exchange. This ‘commercial’ team also fields a solid securitisation practice and the firm’s debt listings group acts for clients such as JPMorgan.
David Hackett’s team at Eugene F. Collins has been particularly active for Anglo Irish Bank recently, advising it on a series of notable transactions including on the establishment of its €10bn MTN programme.
LK Shields Solicitors was recently involved in setting-up of a second MTN programme worth €7bn for Banquo Credit Management. Nomura International, Deutsche Bank and Commerzbank are also representative clients.
Over the past year Maples and Calder has kept busy advising nominated advisors such as Arbuthnot Securities on AIM and IEX admissions and was also involved in the reverse take over of Boundary Capital by Panther Group Acquisitions.
The capital markets team at Mason Hayes+Curran sits within the firm’s strong corporate practice. The firm recently advised on the placing and AIM/IEX Admission of Origin Enterprises.