Practices

Debt Capital Markets

Our expertise:

Our debt capital markets practice is extensive and encompasses the full range of transactions found on the international debt markets, both public and private. Our clients include Irish and international financial institutions, corporate issuers, private equity firms, investment managers, investors and rating agencies. We advise on debt issuances by Irish corporates and financial institutions, as well as on international debt raisings through Irish special purpose issuing entities.

Key areas:

With respect to debt capital markets, we have many years of experience advising all categories of market participants in connection with:

• Public bond issues - listed and unlisted, investment grade and high yield
• Establishment of medium term note and commercial paper programmes for financial institutions and corporates
• Bank capital raising
• Covered bonds (asset covered securities)
• Private note placement transactions
• Securitisation transactions
• Repackaging transactions
• Structured products

Key highlights include advising:

• SMBC Aviation Capital in relation to the debut bond issue by its wholly owned subsidiary, SMBC Aviation Capital Finance DAC, of $500,000,000 Senior Notes due 2021 which were guaranteed by SMBC
• Horizon Pharma plc in relation to its offering of $400 million aggregate principal amount of 2.50% exchangeable senior notes due 2022 in a private placement to qualified institutional buyers pursuant to Rule 144A under the US Securities Act of 1933
• Rabobank as arranger on the structuring and drafting of documentation for the innovative “Milkflex” transaction, designed by Rabobank, in partnership with Glanbia plc, to make business loans available to members of the Glanbia co-op
• AerCap, a global leader in aircraft leasing and aviation finance, in relation to its US$7.6 billion acquisition of ILFC from AIG, its US$2.6 billion bond issuance and the reorganisation and transfer of the majority of the ILFC fleet (approximately 900 aircraft) into Ireland
• Deutsche Bank AG, London Branch, JP Morgan Securities, Citigroup and Credit Suisse, the initial purchasers of secured notes worth €500 million equivalent issued by Smurfit Kappa Acquisitions, a wholly owned subsidiary of Smurfit Kappa Group plc
• Gas Networks Ireland in connection with the establishment of the EMTN programme and the issue of its debut Eurobonds (€625million)