Capital Markets

Our Capital Markets Group is consistently regarded as a market leader and advises on the full range of public and private debt and equity issuances in Ireland and internationally, advising Irish and international issuers, financial institutions, dealers, arrangers and rating agencies.

Our experience includes advising on:

  • Bond issues (unsecured, secured and guaranteed)
  • MTN and other debt issuance programmes
  • CP/CD
  • Hybrid bonds
  • Initial public offerings (IPOs)
  • Private equity/venture capital transactions
  • Secondary placings of shares and related instruments
  • High yield debt
  • Securitisations

As a full service legal firm we are able to draw on the expertise of lawyers from other practice areas, particularly in the corporate and tax areas and in key industry sectors, to create client-centred multi-disciplinary teams.

Our Regulatory Enforcement team works closely with us on all relevant transactions.

Equity – Public companies

Our experience includes advising:

Norkom Group plc and its two subsidiaries on capital reductions totalling €330m.

Waterford Wedgwood plc in relation to its €120m fundraising and its receivership, asset sale and unwinding.

Skillsoft plc on a landmark $685m court approved capital reduction involving the reduction of a share premium account and the application of the reserves arising to eliminate historic deficits of US$407m and the creation of US$278m distributable reserves.

Equity – Private Investments

Our experience includes advising:

Biancamed Limited on a €6m investment round led by Seventures, a French VC firm, the single biggest fundraising in this space in 2009.

ACT Venture Capital and Seroba Bioventures in respect of their follow on investment in Novate Medical Limited

Scottish Equity Partners and Delta Partners on a €2.25m investment round in Clavis Technology Limited.

Continental Farmers Group plc on two investment rounds (each led by Origin Enterprises plc) with aggregate investment proceeds of €20m.

Kernel Capital Partners on its acquisition of a 40% stake in Seroba Kernel Life Science Venture Capital Fund.

Debt

Our experience includes advising:

Ardagh Glass Finance plc, on its offering of €300m First Priority Senior Secured Notes due 2016 and its offering of €180m 8.75% Senior Notes due 2010. These transactions covered ten jurisdictions throughout Europe.

SCOR on the $200m Atlas V Capital Ltd CAT Bond.

Ballantyne Re plc, an Irish special purpose re-insurer, on a 51.5% aggregate recapture and $675m replacement facility.

Fitch, in relation to the establishment of a commercial mortgage covered securities programme by Anglo Irish Mortgage Bank under section 58 of the Asset Covered Securities Act 2001. The transaction was the first of its kind in Ireland.


We are consistently ranked as one of the leading Capital Markets law firms in Ireland.

Department – Debt Capital Markets

Sources say: "The team was critical to the successful outcome of a complex deal."
Chambers Europe, 2013 - Capital Markets

"Each lawyer has an absolute command of their speciality" and is "a pleasure to work with".
Legal 500 EMEA, 2013 - Capital Markets

William Fry provides "a first-class service", "client commitment and commercialism".
Legal 500 EMEA, 2012 - Capital Markets

Sources Say: “A dedicated team with great depth – and things are run by a solid partner at the top.”
Chambers Global, 2010 – Capital Markets

The debt capital markets work undertaken by this team of “extremely good operators” consists primarily of corporate bond issuances, insurance link bonds and broader securitisation matters. The group wins praise for its ability to integrate tax and M&A expertise into capital markets transactions, especially in distressed securitisation scenarios.
Chambers Global, 2009 – Capital Markets

On the debt side the firm is known in the market mainly for its niche practice in catastrophe (Cat) bonds.
IFLR1000, 2010 - Capital Markets

Team – Debt Capital Markets

Elaine Hanly
Elaine Hanly wins praise for her in-depth knowledge of derivatives, syndicated loans and securitisation. Observers describe her as "dedicated and thorough."
Chambers Global, 2013 - Capital Markets

Elaine Hanly is “unbelievably dedicated, and has an ability to look ahead and find the difficult points and deal with them.”
Chambers Global, 2012 - Capital Markets

On the debt side, group co-leader Elaine Hanly is highly recommended.
Chambers Global, 2010 – Capital Markets

Her extremely broad practice is complemented by her expertise in structured finance, derivatives, securitisation and debt capital markets.
Chambers Global, 2010 – Banking & Finance

Banking specialist Elaine Hanly focuses on the insurance link bonds and securitisation side of the debt capital markets practice. Commentators view her as “knowledgeable, experienced and very easy to deal with”.
Chambers Global, 2009 – Capital Markets

Department – Equity Capital Markets

"Each lawyer has an absolute command of their speciality" and is "a pleasure to work with".
Legal 500 EMEA, 2013 - Capital Markets

William Fry provides "a first-class service", "client commitment and commercialism".
Legal 500 EMEA, 2012 - Capital Markets

William Fry's Managing Partner, Myra Garrett, remains close to the deal coal face on the equity side, leading a team which clients pick out as being a "top-class offering". 
Legal 500 EMEA, 2011 - Capital Markets

Sources Say: “A dedicated team with great depth – and things are run by a solid partner at the top.” Chambers Global, 2010 – Capital Markets

William Fry's reputation in the market lies in the equity capital markets, where the firm is ranked in tier one.
IFLR1000, 2010 - Capital Markets


Team – Equity Capital Markets

Myra Garrett
The ‘always excellent’ managing partner Myra Garrett.
Legal 500 EMEA, 2013 - Capital Markets

Myra Garrett is described as "simply outstanding; she is an exceptionally talented lawyer and a highly skilled deal broker."
Chambers Global, 2013 - Capital Markets

Managing partner Myra Garrett is "highly accomplished".
Legal 500 EMEA, 2012 - Capital Markets

Myra Garrett is renowned for her expertise in representing public limited companies. According to sources, she “has a clear understanding of the requirements and complexities of the transaction".
Chambers Global 2012 - Capital Markets

Myra Garrett's legal acumen is applied to particularly complex transactions.
Chambers Global, 2011 - Capital Markets

On the equity side, Myra Garrett has a ‘keen understanding of client needs and communicates effectively’.
Legal 500 EMEA, 2010 – Capital Markets

Managing partner Myra Garrett is a “high-performing, tenacious lawyer.” She has a broad practice but is particularly noted for her expertise on tech fund-raisings and IPOs.
Chambers Global, 2010 – Capital Markets

Myra Garrett is “intellectually very impressive,” according to sources; “she just gets on with the job and is very good on technical points”.
Chambers Global, 2009 – Capital Markets

Owen O'Connell
Owen O'Connell is lauded as a "smart, succinct practitioner with outstanding technical ability."
Chambers Global, 2013 - Capital Markets

Owen O'Connell is praised for his "commercial nous".
Legal 500 EMEA, 2011 - Capital Markets

Owen O'Connell is a “formidable corporate/M&A and capital markets lawyer” who gives “good, straight advice” and “can get complex things done really easily.”
Chambers Global, 2010 – Capital Markets

Owen O'Connell is lauded as “a giant of the corporate field”.
Chambers Global, 2009 – Capital Markets

Brendan Heneghan
Brendan Heneghan is highlighted as a pre-eminent practitioner with a vast amount of experience.
Chambers Global, 2011 - Capital Markets

Leading light Brendan Heneghan is, according to clients, “one of the best there is in terms of training and mentoring his team.”
Chambers Global, 2010 – Capital Markets

Clients value corporate partner Brendan Heneghan’s expertise on IPOs and fund-raising matters.
Chambers Global, 2009 – Capital Markets

Shane O'Donnell
Shane O’Donnell is valued for his ‘commercial input’.
Legal 500 EMEA, 2010 – Capital Markets.