Pictured (L-R): Cian McCourt, Partner, Head of Corporate and M&A; Christopher McLaughlin, Partner, Corporate and M&A; Sophie Frederix, Partner, Corporate and M&A; Connor Manning, Partner, Corporate and M&A

The awards recognise the depth of corporate finance and capital markets expertise in Ireland, as well as the demonstrating the global nature of the industry. The winning deals that we worked on with our clients included:

Mergers & Acquisitions

Public Equity: CD&R Acquisition of UDG Healthcare plc

Cian McCourt, Head of Corporate and M&A, commented “We were very pleased to act for the lending banks on the UDG take private which was one of the largest LBOs in the Irish market in recent years. The debt financing was arranged out of New York and required an adaptation of US style funding arrangements to ensure they met the “certain funds” requirements of the Irish Takeover Rules.”

Life Sciences: ICON plc’s acquisition of PRA Health Sciences

Cian McCourt also commented “ICON is one of the great Irish success stories and the PRA Health transaction brings its business to another level again in circumstances where the COVID-19 vaccine programme has demonstrated the key role that clinical research organisations play in bringing medicinal products to market. As Irish counsel to PRA Health, we are very proud to have been part of this transformative deal.”

IPO, International: GH Research

Cian also commented “GH Research is one of the few recent IPOs of an Irish company. As counsel to the underwriters, it meant working Irish law requirements and protections into a US IPO and underwriting in order to make it look and feel like a US company to the greatest extent possible. Investor appetite was strong and the IPO demonstrated the ability to deliver notwithstanding lockdowns which were in force at the time.”

SPAC: Navitas Semiconductor Merger

Christopher McLaughlin, Partner, Corporate and M&A, commented “Given the highly unusual dual incorporation of the target, we had to navigate a number of issues where the Irish and Delaware legal systems differ.  In particular, to address the complex shareholder structure, the acquisition was effected as an Irish offer – a first for a de-SPAC –requiring complex planning to ensure that the timing of the compulsory acquisition procedure did not adversely impact or delay the Delaware merger or deal certainty.”

Debt Capital Markets

Structured Finance: Project Iris Underperforming Loans Portfolio

Cormac Kissane, Partner and Head of the Finance Department and Capital Markets Group, commented “This deal was really significant as it was the first time an Irish financial institution has completed a sale of loans to ethical purchasers committed to keeping borrowers in their homes through solutions such as mortgage to rent. It was a great example of how private investment can be used to produce sustainable solutions for borrowers in significant arrears while allowing them to remain in their homes.”

RMBS Securitisation: Fastnet Securities 16 DAC and Fastnet Securities 17 DAC

Aiden Small, Partner and Head of Debt Capital Markets, commented “We are delighted to have assisted Morgan Stanley as arranger of these two important RMBS transactions and to have had the opportunity to continue the close working relationship with the PTSB team. RMBS remains a cornerstone of the Irish bank funding model and these deals help to demonstrate the strong fundamentals of the market.”

Equity Capital Markets

ECM Deal of the Year: Dole Food combination with Total Produce & IPO

Connor Manning, Partner, Corporate and M&A Group, commented “We are very pleased to have assisted Total Produce plc on its merger with Dole Food Company Inc. and the subsequent IPO of the combined Dole plc on NYSE to create the world’s largest fresh fruit and vegetable supply business.”

Irish Scheme of Arrangement: Strongbridge Biopharma plc acquisition by Xeris Pharmaceuticals plc

Maura McLaughlin, Partner, Corporate and M&A Group, commented “It has been terrific working with the Strongbridge team since their IPO on Nasdaq in 2015, and we were delighted to advise on this transformational merger with Xeris.”

ECM SPAC: ADS-TEC

Connor Manning also commented “We are very pleased to have assisted European Sustainable Growth Acquisition Corp. on its deSPAC merger with ADS-TEC Energy and the subsequent IPO of the combined ADS-TEC Energy plc on NASDAQ.”

Loans and Financing

Development Financing Package: SIRO joint venture between Vodafone and ESG

Matt Dunn, Partner, Finance, commented “We were pleased to work with Clifford Chance and the creditors on this landmark €620m multi-source financing for SIRO. Our role included advising international creditors in relation to the Irish TMT regulatory environment and structuring the debt instruments to ensure that the various members of the diverse creditor group could benefit from domestic tax exemptions applicable to them in order to receive interest payments free from withholding.”

To read more on the awards, visit https://www.financedublin.com/