Matheson’s market leading Finance and Capital Markets Department acts for lenders, borrowers, issuers and arrangers on a wide range of transactions involving the raising of debt finance by Irish corporate and other borrowers.  We understand that in the ever-changing financial markets the provision of green loans and sustainability-linked finance, and issuance of ESG bonds, is becoming increasingly important for our clients on the lending side and also on the borrower side as such borrowers pivot and adapt to ensure their businesses operate on a more sustainable basis. We understand that climate change is an increasing risk for both lenders and borrowers but also provides an opportunity to change how business is conducted.

Optimal outcomes for our clients in these transactions require expertise across a range of disciplines and leverage the expertise provided by our tax, property, energy, environmental, corporate and regulatory teams in working to achieve best-in-class sustainable solutions for our clients.

Experience

Our team have recently advised:

• the Lead Managers on AIB Group’s inaugural green bond, the first green bond offer by an Irish bank.
• an international bank in relation to a green loan to refinance a large distribution centre for a large international retailer with significant operations in Ireland.  The loan involved a step down in margin once certain KPIs were satisfied.
• an international bank in relation to a term loan made available to an Irish plc in accordance with the LMA Green Loan Principles.
• domestic and international lenders (including AIB, Bank of Ireland, Ulster Bank, Hamburg Commercial Bank, Aviva Investors, Rabobank, ING, DNB Bank ASA, and Credit Agricole) and domestic and international renewable energy sponsors, and infrastructure, pension and private equity funds (including Brookfield Renewables, Bord na Mona plc, Allianz, GE, EDF Renewables, Statkraft and Partners Group) in respect of the project financing, acquisition and disposals of wind farm projects, solar parks as well as waste to energy plants in Ireland.
• an international property developer in relation to a green loan from an international bank which was used to part finance the construction of a number of high profile office blocks in the Dublin Docklands.
• a syndicate of banks in relation to a sustainability linked loan to a leading international agri-food and nutrition company.
• some of the world’s largest technology companies, international and domestic and international renewable energy developers and financial institutions on the financial regulation applicable to their corporate power purchase agreements for Irish renewable energy projects.
• numerous CLO issuers incorporating ESG criteria in their investment guidelines.

ESG focussed projects, transaction and advisory mandates are now a core part of Matheson’s market leading Corporate and Commercial Department. Our specialist cross disciplinary transactional, and regulatory advisory renewable energy, real estate, M&A, planning and environmental, project finance and infrastructure lawyers advise developers, sponsors, lenders and public sector bodies on developments in the Irish energy, infrastructure, waste, manufacturing and transport sectors and we have particular experience in energy and infrastructure M&A and renewable energy advisory mandates. Over the past number of years in particular, our ESG advisory team is advising our domestic and international clients on corporate governance matters and disclosure requirements relevant to their ESG policies and strategies, which has increased extensively in the context of legislative initiatives under the EU’s Sustainable Finance Action Plan as well as our clients’ sustainability and ESG strategies and policies.

Our specialised Energy, Natural Resources and Utilities lawyers also provide legal advice covering the entire lifespan of an energy, natural resource, energy efficiency, infrastructure, transport and waste projects, from planning approval to decommissioning.  Our dedicated energy lawyers (some of which, including our leadership team, have been recruited from industry) fully understand the technical and commercial issues in these regulated and complex sectors. In addition to transaction focused work, we have an excellent track record advising on regulatory reform and market design, including advising the Irish Government on the new RESS renewable energy subsidy schemes (RESS 1, RESS Offshore and RESS 2), EirGrid and SONI in relation to all aspects of the I-SEM electricity market re-design and the world’s largest technology, life science, pharma and manufacturing companies, domestic and international lenders as well as some of the largest renewable energy developers active in the Irish market on all but one of the corporate power purchase agreements that have been executed in Ireland to date as well as on their renewable energy procurement and sustainability projects.

Experience

Our team has recently advised:

• domestic and international lenders (including Hamburg Commercial Bank, Aviva Investors, Rabobank, ING, DNB Bank ASA, and Credit Agricole) and domestic and international renewable energy sponsors, and infrastructure, pension and private equity funds (including Brookfield Renewables, Allianz, EDF Renewables, Statkraft, Bord na Mona plc and Partners Group) in respect of their development, due diligence, project financing, acquisition and disposals of wind farm projects, solar parks as well as waste to energy plants in Ireland.
• Brookfield Renewables in relation to the first virtual corporate power purchase agreement entered into with Facebook for an Irish wind farm project.
• a number of clients on the contracts to install electric charging infrastructure for electric vehicles.
• GE in relation to the first corporate power purchase agreement entered into in Ireland with Microsoft Corporation in relation to a large wind farm in Ireland.
• Hanwha Energy Corporation on the development and project financing of a 200MW battery storage facility in Ireland (one of the largest facilities of its kind in Europe) and the first utility scale battery storage project in Ireland.
• some of the leading international technology, manufacturing, life sciences and agri-food companies in Ireland on their ‘green’ or renewable energy procurement and sustainability strategies and projects for their Irish businesses.
• an international listed renewable energy fund on their acquisition and financing of the largest solar park in Ireland.
• a number of global technology companies and leading domestic agri-food and manufacturing companies in relation to energy performance contracts for their Irish campuses and manufacturing plants.

ESG focussed projects, transaction and advisory mandates are now a core part of Matheson’s market leading Corporate and Commercial Department. Our specialist cross disciplinary transactional, and regulatory advisory renewable energy, real estate, M&A, planning and environmental, project finance and infrastructure lawyers advise developers, sponsors, lenders and public sector bodies on developments in the Irish energy, infrastructure, waste, manufacturing and transport sectors and we have particular experience in energy and infrastructure M&A and renewable energy advisory mandates. Over the past number of years in particular, our ESG advisory team is advising our domestic and international clients on corporate governance matters and disclosure requirements relevant to their ESG policies and strategies, which has increased extensively in the context of legislative initiatives under the EU’s Sustainable Finance Action Plan as well as our clients’ sustainability and ESG strategies and policies.

Our specialised Energy, Natural Resources and Utilities lawyers also provide legal advice covering the entire lifespan of an energy, natural resource, energy efficiency, infrastructure, transport and waste projects, from planning approval to decommissioning.  Our dedicated energy lawyers (some of which, including our leadership team, have been recruited from industry) fully understand the technical and commercial issues in these regulated and complex sectors. In addition to transaction focused work, we have an excellent track record advising on regulatory reform and market design, including advising the Irish Government on the new RESS renewable energy subsidy schemes (RESS 1, RESS Offshore and RESS 2), EirGrid and SONI in relation to all aspects of the I-SEM electricity market re-design and the world’s largest technology, life science, pharma and manufacturing companies, domestic and international lenders as well as some of the largest renewable energy developers active in the Irish market on all but one of the corporate power purchase agreements that have been executed in Ireland to date as well as on their renewable energy procurement and sustainability projects.

Experience

Our team has recently advised:

• domestic and international lenders (including Hamburg Commercial Bank, Aviva Investors, Rabobank, ING, DNB Bank ASA, and Credit Agricole) and domestic and international renewable energy sponsors, and infrastructure, pension and private equity funds (including Brookfield Renewables, Allianz, EDF Renewables, Statkraft, Bord na Mona plc and Partners Group) in respect of their development, due diligence, project financing, acquisition and disposals of wind farm projects, solar parks as well as waste to energy plants in Ireland.
• Brookfield Renewables in relation to the first virtual corporate power purchase agreement entered into with Facebook for an Irish wind farm project.
• a number of clients on the contracts to install electric charging infrastructure for electric vehicles.
• GE in relation to the first corporate power purchase agreement entered into in Ireland with Microsoft Corporation in relation to a large wind farm in Ireland.
• Hanwha Energy Corporation on the development and project financing of a 200MW battery storage facility in Ireland (one of the largest facilities of its kind in Europe) and the first utility scale battery storage project in Ireland.
• some of the leading international technology, manufacturing, life sciences and agri-food companies in Ireland on their ‘green’ or renewable energy procurement and sustainability strategies and projects for their Irish businesses.
• an international listed renewable energy fund on their acquisition and financing of the largest solar park in Ireland.
• a number of global technology companies and leading domestic agri-food and manufacturing companies in relation to energy performance contracts for their Irish campuses and manufacturing plants.

Environmental Sustainability and Social Value are now a major themes in commercial real estate and construction as investors, lenders, landlords, developers and occupiers are incorporating sustainability into their business models, often leading to better commercial results. Often our clients have dedicated teams to ensure that their sustainability goals are achieved using best practices in real estate management, asset management, risk management, talent management and construction procurement and management.

Environmental and sustainability real estate goals can be achieved in many ways from the outset at the planning stage where energy ratings, green space, multi-purpose use, wellness and the addition of social value in the built environment are all considerations to operating practices and processes, construction methods, increase in the use of sustainable materials and renewable energy and the reduction of CO2 emissions. In November 2019 the EU adopted a package of measures on sustainable finance, coming into force from 10 March 2021. The reform’s key tenets are taxonomy, disclosure, investor duties, benchmarks and suitability. The environment and sustainability targets are now woven into how we work, live and play.  

The concept of environmental social governance has become an ever-growing area of interest for our real estate clients. We have significant experience advising clients (landlords, developers and occupiers) on green building certification and other green building standards , including LEED, BER, BREEAM and NZEB. The Commercial Real Estate team and our Construction and Engineering group work very closely with our Real Estate Finance teams advising clients on sustainable financing and construction of commercial and residential real estate buildings. In addition, the Commercial Real Estate Team has market leading experience in the renewable energy sphere having advised in relation to all property maters for large-scale energy and infrastructure projects, including wind farms, solar parks, and waste to energy plants.

Experience

Our team has recently advised:

• Oxley Holdings Limited on the construction and real estate aspects of the first green loan in Ireland. HSBC provided project development finance to Oxley in connection with the development of No.s 3, 4 and 5 Dublin Landings.
• No.1, No.2, No. 3, No. 4 and No. 5 Dublin Landings – LEED Platinum – Advised developer on the contractual obligation to deliver LEED Platinum to the Tenant and the Purchaser;
• No’s 3, 4 and 5 Dublin Landings – LEED Platinum – Advised developer on the contractual obligation to deliver LEED Platinum to the owners;
• CWTC Multi Family ICAV on real estate, regulatory, finance and construction related matters. CWTC Multi Family ICAV are pursuing 2/3 star GRESB, “very good” BREEAM rating and Gold standard WELL rating on their developments at Cherrywood and Player’s Square;
• the tenant of Charlemont Square on the NZEB requirements and the implications on its fit out and occupation of its new HQ building;
• the tenant at Bonham Quay, Galway on the contractual obligations and deliverables from the landlord regarding LEED, ONE PLANET LIVING, NZEB, WELL and WIRED SCORE.
• a number of global technology companies on green leases that build in sustainability features and negotiated lease provisions to ensure responsible social and ethical practices, including compliance with domestic and international laws on anti-bribery, anti-corruption and, anti-modern slavery and human trafficking.
• domestic and international lenders (including AIB, Bank of Ireland, Ulster Bank, Hamburg Commercial Bank, Aviva Investors, Rabobank, ING, DNB Bank ASA, and Credit Agricole) and domestic and international renewable energy sponsors, and infrastructure, pension and private equity funds (including Brookfield Renewables, Bord na Mona plc, Allianz, GE, EDF Renewables, Statkraft and Partners Group) in respect of property related matters in relation to their development, due diligence, project financing, acquisition and disposals of wind farm projects, solar parks as well as waste to energy plants in Ireland.

Over the past number of years, our multi-disciplinary Corporate Governance team representing members of our Corporate & Commercial, Energy, Natural Resources and Utilities, Investment Funds, Commercial Litigation & Dispute Resolution and Tax groups, have been advising our domestic and international clients on corporate governance-related risks and compliance matters, and disclosure requirements relevant to our clients’ ESG policies and strategies. This has  increased extensively in the context of legislative initiatives under the EU’s Sustainable Finance Action Plan.

Our reputation management team support our clients to support them in times of crisis. We work with our clients to develop strategies to navigate challenging circumstances, respond to criticism and engage with disputes.

Experience

Our team has recently advised:

• some of the world’s largest technology, life science, pharma, manufacturing and financial institution clients on corporate governance matters, including  reviewing and updating their ESG policies to ensure compliance with legislation and guidance.
• our listed company clients on ESG related reporting such as under the Task Force on Climate-related Financial Disclosures (TCFD), the EU Taxonomy Regulation on the establishment of a framework to facilitate sustainable investment, the Modern Slavery Act and the Non-Financial Reporting Directive.
• our clients on governance and reporting and compliance projects relating to requirements under the Sustainable Finance Disclosure Regulation.
• on the application of the Sustainable Finance Disclosure Regulation to remuneration policies.
• on the drafting of ESG policies and updating corporate governance frameworks to keep abreast of emerging ESG trends.
• clients on risk management and oversight from a ESG perspective.
• clients on how to address ESG concerns raised by investors.
• Directors as independent outside counsel on matters of governance arising within the Board of Directors.
• on board training and management training on ESG related law, governance and guidance.

Our Employment, Pensions and Benefits Group was established more than twenty years ago in recognition of the increasing complexity and development of the law in the employment, equality and pensions areas, and the demands from clients for specialist advice. We provide legal advice on all aspects of the employment relationship, including pension schemes and employee benefits, with particular expertise in advising employers in the tech, financial services and pharma sectors, amongst others. Our work can be broken down into advisory, employment litigation and transaction planning and support. We advise on all Irish and European legislation relating to or affecting the employment relationship and pensions / benefits entitlements.   Our employment and pensions practice has developed into one of the largest and leading such groups in any law firm in Ireland.  It is best known as the first port of call for international employers in the Irish market and for consistently being the first firm to advise on complex new areas of employment law as they emerge, such as the proposed Senior Executive Accountability Regime and on Brexit relocation projects.

Over the past number of years, our employment and pensions practice working closely with our Corporate and Commercial Department, have been advising our clients on employment practices and policies to support their ESG strategies and policies.   As ESG has grown as a priority issue for our international clients in recent years, our employment specialists have been increasingly advising on the employment and labour aspects of these issues, including speaking at international conferences to US audiences on the practical application. 

Experience

Our team has recently advised:

• a number of clients on updating their employment policies to ensure best practice and compliance with their ESG strategies, by incorporating ESG issues into employers’ standards and codes of conduct.
• clients on their supply chain terms and conditions to ensure compliance by their suppliers and customers with the client’s employment practices, including labour practices, human rights and ethics policies.
• a number of clients on the employment aspects of implementing and enforcing their Anti-Bribery and Corruption and Sanctions policies to ensure compliance with domestic and international legislation and guidance as well as their ESG strategies.

Matheson’s market leading Finance and Capital Markets Department acts for lenders, borrowers, issuers and arrangers on a wide range of transactions involving the raising of debt finance by Irish corporate and other borrowers.  We understand that in the ever-changing financial markets the provision of green loans and sustainability-linked finance, and issuance of ESG bonds, is becoming increasingly important for our clients on the lending side and also on the borrower side as such borrowers pivot and adapt to ensure their businesses operate on a more sustainable basis. We understand that climate change is an increasing risk for both lenders and borrowers but also provides an opportunity to change how business is conducted.

Optimal outcomes for our clients in these transactions require expertise across a range of disciplines and leverage the expertise provided by our tax, property, energy, environmental, corporate and regulatory teams in working to achieve best-in-class sustainable solutions for our clients.

Experience

Our team has recently advised:

• the Lead Managers on AIB Group’s inaugural green bond, the first green bond offer by an Irish bank.
• an international bank in relation to a green loan to refinance a large distribution centre for a large international retailer with significant operations in Ireland.  The loan involved a step down in margin once certain KPIs were satisfied.
• an international bank in relation to a term loan made available to an Irish plc in accordance with the LMA Green Loan Principles.
• domestic and international lenders (including AIB, Bank of Ireland, Ulster Bank, Hamburg Commercial Bank, Aviva Investors, Rabobank, ING, DNB Bank ASA, and Credit Agricole) and domestic and international renewable energy sponsors, and infrastructure, pension and private equity funds (including Brookfield Renewables, Bord na Mona plc, Allianz, GE, EDF Renewables, Statkraft and Partners Group) in respect of the project financing, acquisition and disposals of wind farm projects, solar parks as well as waste to energy plants in Ireland.
• an international property developer in relation to a green loan from an international bank which was used to part finance the construction of a number of high profile office blocks in the Dublin Docklands.
• a syndicate of banks in relation to a sustainability linked loan to a leading international agri-food and nutrition company.
• some of the world’s largest technology companies, international and domestic and international renewable energy developers and financial institutions on the financial regulation applicable to their corporate power purchase agreements for Irish renewable energy projects.
• numerous CLO issuers incorporating ESG criteria in their investment guidelines.