Matheson advise on Irish REIT’s move to an unsecured debt structure
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Peter O'Brien
Matheson recently advised a syndicate of lenders on a landmark transaction which saw an Irish real estate investment trust move to an unsecured debt structure for the first time.
Partner Peter O’Brien and senior associate Ross Forde in the firm’s finance and capital markets led work on the transaction.
The lenders, consisting of Bank of Ireland, Wells Fargo, Barclays Bank Ireland and AIB, were advised in relation to the refinancing of a Dublin-focused Hibernia REIT’s €400 million revolving credit facility.
The overall new arrangement consists of a €320 million unsecured revolving facility as well as €75 million of unsecured US private placement notes.
Hibernia REIT’s portfolio is valued at €1.3 billion.
Mr O’Brien said: “We are delighted to have worked with the syndicate of international lenders on this transaction and it underlines the continuing confidence in the Irish commercial real estate sector as well as the broader economy.”
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