The portfolio consisted of over 15,000 finance contracts originated by First Citizen Finance DAC. The transaction was fully documented under Irish law and the securities were listed on the regulated market of Euronext Dublin. There was strong investor demand, demonstrating the ongoing confidence in Irish assets by the international capital markets.
The securitisation secured the support of about 20 of the largest US and European banks, insurance companies and investment managers and the offer was oversubscribed at each of the relevant tranches. The Matheson team was led by Turlough Galvin, Vincent McConnon and Emily Ashford.