NTMA raises €3.5bn in green bond sales

The National Treasury Management Agency (NTMA) has raised €3.5 billion through the syndicated sale of a new 20-year Irish Sovereign Green Bond (ISGB) maturing in October 2043.

Arthur Cox advised the managers on the issue of the green bond, which is Ireland’s second sovereign green bond following and inaugural issue in 2018.

The funds were raised from a broad range of international investors at a yield of 3.106 per cent.

The Arthur Cox team was led by Cormac Kissane and included Sinead Williams and Blánaid Corrigan.

John Laing acquires portfolio of assets from Irish Infrastructure Fund

John Laing Group, a leading international investor and active manager of core infrastructure assets, has acquired a portfolio of three assets from AMP Capital, the infrastructure manager of the Irish Infrastructure Fund (IIF).

Arthur Cox advised John Laing Group on the acquisition, while Dentons advised AMP Capital.

The portfolio consists of Convention Centre Dublin, Ireland’s only purpose-built convention centre; Towercom, Ireland’s largest independent telecommunications tower company; and Valley Healthcare, Ireland’s largest primary care centre operator and developer.

The transaction — the largest single investment in John Laing’s history — is expected to complete during 2023, subject to customary conditions. Terms of the transaction were not disclosed.

The Arthur Cox team was led by corporate and M&A partner Cian McCourt and infrastructure partner Aaron Boyle.

The team included Sarah McDermott, Andrea Bowdren, Niamh Gunning and James Cotter in the corporate and M&A team; Fiona Egan, Kate Fagan and Maeve Crockett in infrastructure; David Kilty and Carl Grenville in tax; Deirdre Sheehan, Sarah O’Mahony, Ramona Morrisroe and Gillian Beechinor in real estate; Patrick Horan, Simon Breen, Ronan Scanlan and James Dowling in competition; Hazel Doyle and Ruby McEntegart in asset management and investment funds; Imelda Shiels and Andrew McMaster in finance; and Michael Shovlin in pensions and employee benefits.

The Dentons team included partners Eavan Saunders, David McGuinness and Michael McDonald and associate Tom Dalton.

Centric Health forms joint venture with Irish Life

Healthcare providers Centric Health and Irish Life have formed a new joint venture called Carepath Connect.

LK Shields Solicitors LLP acted for Centric Health in the formation of the joint venture.

Carepath Connect will provide access to a new healthcare service in the community comprising a mix of digital and in-person care for its customers.

The transaction completed on 22 December 2022 following approval by the European Commission.

The LK Shields transaction team was led by Seanna Mulrean with assistance from Cian O’Lionaird and Jane O’Grady. Marco Hickey advised on the competition law aspects.

Marco Beverage Systems acquired by US-based Middleby Corporation

Marco Beverage Systems, a Dublin-based designer and manufacturer of beverage dispense solutions, has been acquired by US-based and Nasdaq-listed The Middleby Corporation.

ByrneWallace acted for shareholders Drewry Pearson, Sean Moran and Paul Stack on the sale.

The 40-year-old business designs and manufactures innovative and energy-efficient beverage dispense solutions that can be found in coffee shops, offices, hotels, convenience stores and restaurants all over the world.

The ByrneWallace team was led by corporate senior associate Jonathan Lynch, managing partner and head of corporate Feargal Brenann, and corporate partner Ross Little.

Tax advice was led by tax partner Colin Bolger, partner and head of tax Anthony Smyth, and head of corporate advisory services Julie Herlihy.