Walkers are pleased to have advised on the Irish legal, regulatory and tax aspects of the first ever European middle market private credit Collateralised Loan Obligation ("CLO") transaction.
Walkers also provided listing and corporate administration services to the CLO Issuer through its listing and professional services businesses.
The Walkers team was led by Dublin-based Partner Paddy Rath. Walkers Professional Services was led by Managing Director Fiona de Lacy.
Commenting on the transaction, Partner Paddy Rath said: "We are thrilled to have assisted Barings with this groundbreaking CLO transaction. The European CLO Market has been waiting for a breakthrough on middle market CLOs for some time and we were delighted to see Barings, a deeply experienced and market leading CLO manager, lead the way. At Walkers we regularly partner with our clients to solve complex legal, tax and structuring issues on groundbreaking and novel transactions. We thank Barings for continuing to place their trust and confidence in our expert CLO Team."
The Barings Euro Middle Market CLO transaction is a EUR 380 Million middle market private credit CLO transaction. The transaction is a static deal with a one-year non-call period. BNP Paribas acted as arranger of the transaction and the deal was rated by S&P and Fitch.
The Walkers Team included: Paddy Rath, Partner Finance & Capital Markets, Noeleen Ruddy, Partner Finance & Capital Markets, Clare Mannion, Senior Associate Finance & Capital Markets, Fiona de Lacy, Managing Director Walkers Professional Services, Padhraic Mulpeter, Consultant Tax, Eimear Burbridge, Of Counsel, Tax and Therese Redmond, Head of Listing Services - Ireland.