Arthur Cox advises M&G on issuance by Mulcair Securities No.3 DAC of notes backed by a portfolio of re-performing loans
Arthur Cox is pleased to have acted for M&G managed funds as Seller, Retention Holder and Option Holder on the issuance of notes by Mulcair Securities No.3 DAC, backed by a portfolio of predominantly re-performing loans originated by Bank of Ireland.
The transaction involved the refinancing of Bank of Ireland’s Mulcair 1 transaction following the exercise of the call option held by M&G managed funds, and the acquisition of a further portfolio from Bank of Ireland for the purposes of the new issuance.
The Arthur Cox team was led by Cormac Kissane (Partner, Finance) and Aisling Kelly (Partner, Finance), and included Neil Murphy (Associate, Finance) and Olivia O’Neill Brown (Associate, Finance), Fintan Clancy (Partner, Tax) and Elaine Mooney (Senior Associate, Tax).
